* CEO Paul Beideman to retire
* Co retains executive search firm to look for successor
* Beideman to remain at co till Feb. 1, 2010
Aug 26 (Reuters) - U.S. regional bank Associated Banc-Corp said its Chairman and Chief Executive Paul Beideman will retire.
The Green Bay, Wisconsin-based lender said it expects to hire a new CEO before the end of 2009 and has retained an executive search firm to find a successor for Beideman.
Beideman will remain with the company until Feb. 1, 2010 to facilitate the CEO transition, the company, that operates about 300 branches in Wisconsin, Illinois and Minnesota, said in a statement.
Associated, which has about $24 billion in total assets, posted a second-quarter loss in July, hurt by an increase in soured commercial and construction loans amid the global financial meltdown.
Shares of the company closed at $10.73 Wednesday on Nasdaq. Earlier in the day, they reached a 52-week high of $10.91.
(Reporting by Anurag Kotoky in Bangalore; Editing by Maju Samuel) Keywords: ASSOCIATEDBANCCORP/ (anurag.kotoky@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: anurag.kotoky.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Co retains executive search firm to look for successor
* Beideman to remain at co till Feb. 1, 2010
Aug 26 (Reuters) - U.S. regional bank Associated Banc-Corp said its Chairman and Chief Executive Paul Beideman will retire.
The Green Bay, Wisconsin-based lender said it expects to hire a new CEO before the end of 2009 and has retained an executive search firm to find a successor for Beideman.
Beideman will remain with the company until Feb. 1, 2010 to facilitate the CEO transition, the company, that operates about 300 branches in Wisconsin, Illinois and Minnesota, said in a statement.
Associated, which has about $24 billion in total assets, posted a second-quarter loss in July, hurt by an increase in soured commercial and construction loans amid the global financial meltdown.
Shares of the company closed at $10.73 Wednesday on Nasdaq. Earlier in the day, they reached a 52-week high of $10.91.
(Reporting by Anurag Kotoky in Bangalore; Editing by Maju Samuel) Keywords: ASSOCIATEDBANCCORP/ (anurag.kotoky@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: anurag.kotoky.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.