Welcome!

News Feed Item

Michael P. Daly Elected Berkshire Hills Chairman; Lawrence A. Bossidy Elected Lead Independent Director

PITTSFIELD, Mass., Dec. 17, 2012 /PRNewswire/ -- Berkshire Hills Bancorp, Inc. (NYSE: BHLB) today announced that President and CEO Michael P. Daly has been elected Chairman of the Board of Directors effective on January 1, 2013.  The Board has also elected current Chairman Lawrence A. Bossidy to the new position of Lead Independent Director effective on the same day.  Identical elections of Messrs. Daly and Bossidy were made by the Board of Berkshire Bank, the banking subsidiary of Berkshire Hills Bancorp.

(Photo: http://photos.prnewswire.com/prnh/20121217/NE30911 )

(Logo: http://photos.prnewswire.com/prnh/20120131/NE44966LOGO )

CEO Daly stated, "I'm honored to assume the leadership of the Berkshire Board and I look forward to continuing the strong focus on business execution which has been a hallmark of Larry Bossidy's long and distinguished leadership of our Company.  I'm delighted that he will continue to have an active role in his new capacity as Lead Independent Director.  Our team has built a locally focused, customer-centric institution and invested in a strong infrastructure positioned across the middle of our four state region.  The Board and the Company remain committed to responsibly serving the financial needs of our markets and to providing strong returns to our investors." 

Mr. Bossidy added, "The election of Mike Daly as Chairman recognizes his success as CEO in building our strong franchise, and the confidence of our directors in his judgment, business acumen, and leadership.  I look forward to working with him in my new role as Lead Independent Director, in conjunction with our Board and management team, to achieve continuing success in serving all of our constituencies." 

Mr. Daly was appointed President and Chief Executive Officer of the Company and the Bank in October 2002.  During his tenure as chief executive, Mr. Daly has navigated Berkshire through significant growth, market share expansion, and profitability gains.  Total assets have risen to $5.5 billion, with 75 branches operating in Massachusetts, New York, Connecticut and Vermont.  Among Mr. Daly's achievements are the creation of Berkshire Bank's distinctive "America's Most Exciting Bank®" brand platform and the development of a high performance team oriented culture.   Berkshire is now one of the country's hundred largest exchange traded banks.  In recognition of its standing and achievements, Berkshire recently moved its stock listing to the New York Stock Exchange.

Mr. Daly is a Pittsfield native who began his banking career in commercial lending with Bank of Boston.  He joined the Company in 1986, rising to Executive Vice President and Senior Loan Officer prior to his appointment as CEO.  Mr. Daly holds a Master of Business Administration degree from the Columbia University School of Business and a Bachelor of Science degree from Westfield State College. He currently serves as chairman of the board of the Berkshire Business Roundtable and the Berkshire County Cystic Fibrosis Foundation, as well as serving with several other boards and volunteer associations. 

Mr. Bossidy joined the Board as Chairman in 2002 and serves on the Compensation and Corporate Governance/Nominating Committees. His notable career has included the positions of Chairman and Chief Executive Officer of Honeywell International, Chairman and Chief Executive Officer of AlliedSignal, Chief Operating Officer of General Electric Credit, President of General Electric's Services and Materials Sector and Vice Chairman of General Electric. Mr. Bossidy has also served as a member of the Board of Directors of Merck & Co., J.P. Morgan, and K&F Industries Holdings.  In his new position as Berkshire's Lead Independent Director, he is expected to have involvement in agenda-setting, communication with other independent directors, planning, and performance evaluation activities.  The duties and responsibilities of this position will be discussed in the Company's 2013 Proxy Statement.

Berkshire also announced the retirement of Catherine B. Miller as a Director of the Company and the Bank, effective immediately. Ms. Miller has served as a Berkshire Bank director for nearly 30 years and as a director of the Company since 2000.  Mr. Daly commented, "We appreciate Catherine's long service and knowledge of our local markets.  We wish her well following her retirement from our Board and look forward to her continued participation on the Board of the Berkshire Bank Foundation."

BACKGROUND

Berkshire Hills Bancorp is the parent of Berkshire Bank – America's Most Exciting Bank®. The Company has approximately $5.5 billion in assets and 75 full service branch offices in Massachusetts, New York, Connecticut, and Vermont providing personal and business banking, insurance, and wealth management services.  Berkshire Bank provides 100% deposit insurance protection for all deposit accounts, regardless of amount, based on a combination of FDIC insurance and the Depositors Insurance Fund (DIF). 

FORWARD LOOKING STATEMENTS

This document may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  There are several factors that could cause actual results to differ significantly from expectations described in the forward-looking statements. For a discussion of such factors, please see Berkshire's most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission and available on the SEC's website at www.sec.govBerkshire does not undertake any obligation to update forward-looking statements made in this document.

Contacts:

Media Contact:  Lori Gazzillo; AVP, Community Relations; 413-822-1695
Investor Relations Contact:  David Gonci: Investor Relations Officer; 413-281-1973

SOURCE Berkshire Hills Bancorp, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
SYS-CON Events announced today that 24Notion has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. 24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to con...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
The initial debate is over: Any enterprise with a serious commitment to IT is migrating to the cloud. But things are not so simple. There is a complex mix of on-premises, colocated, and public-cloud deployments. In this power panel at 18th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will look at the present state of cloud from the C-level view, and how great companies and rock star executives can use cloud computing to meet their most ambitious and disruptive business ...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT's direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...
SYS-CON Events announced today that Hanu Software will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Leveraging best-in-class people, processes, and technologies, Hanu provides high-quality, high-value software development and business process outsourcing services to independent software vendors (ISVs) and enterprises.
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, will explore the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences betwee...
SYS-CON Events announced today BZ Media LLC has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and Commercial Drone markets.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...