|By PR Newswire||
|December 17, 2012 03:42 PM EST||
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.
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."
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.gov. Berkshire does not undertake any obligation to update forward-looking statements made in this document.
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.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Aug. 4, 2015 06:45 PM EDT Reads: 237
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Aug. 4, 2015 06:45 PM EDT Reads: 220
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Aug. 4, 2015 05:30 PM EDT
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
Aug. 4, 2015 05:00 PM EDT Reads: 108
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Aug. 4, 2015 03:00 PM EDT Reads: 573
Scrum Alliance has announced the release of its 2015 State of Scrum Report. Almost 5,000 individuals and companies worldwide participated in this year's survey. Most organizations in the market today are still leading and managing under an Industrial Age model. Not only is the speed of change growing exponentially, Agile and Scrum frameworks are showing companies how to draw on the full talents and capabilities of those doing the work in order to continue innovating for success.
Aug. 4, 2015 02:45 PM EDT
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Aug. 4, 2015 02:00 PM EDT Reads: 390
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at @DevOpsSummit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, presented a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mocku...
Aug. 4, 2015 01:30 PM EDT
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Aug. 4, 2015 01:00 PM EDT Reads: 293
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Aug. 4, 2015 12:00 PM EDT Reads: 114
Graylog, Inc., has added the capability to collect, centralize and analyze application container logs from within Docker. The Graylog logging driver for Docker addresses the challenges of extracting intelligence from within Docker containers, where most workloads are dynamic and log data is not persisted or stored. Using Graylog, DevOps and IT Ops teams can pinpoint the root cause of problems to deliver new applications faster and minimize downtime.
Aug. 4, 2015 11:45 AM EDT
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Aug. 4, 2015 11:30 AM EDT Reads: 116
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Aug. 4, 2015 09:30 AM EDT Reads: 115
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Aug. 4, 2015 08:45 AM EDT Reads: 262
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Aug. 4, 2015 07:00 AM EDT Reads: 227