Clifton, N.J.-based Clifton Savings Bancorp (NASDAQ:CSBK) got a new CEO this evening.
On Wednesday after close of trading, Clinton announced that both its own chairman and chief executive officer, John A. Celentano, Jr., and the president and CEO of the Clifton Savings Bank (for which it is the holding company), Walter Celuch, have decided to retire at the end of this year. Celuch is also president of the holding company.
Upon both men's retirement on December 31, the company will bring in Kilpatrick Townsend & Stockton LLP Chairman Paul M. Aguggia to become its chairman, CEO, and president.
Described as a "Super Lawyer" in the fields of securities law and corporate finance, Aguggia has served as Clifton Savings' primary legal counsel for more than a decade and has been working for similar clients for nearly 25 years.
Clifton Savings Bancorp says it has not yet decided upon a compensation package for Aguggia, but will disclose his compensation in a Form 8-K filing with the SEC just as soon as it's determined.
Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Solar Companies Are Set Up for a Strong Earnings Season
Rising demand and prices for solar panel prices bode well for manufacturers.
Today's Workers Aren't Optimistic About Raises and Promotions, Data Shows
Surprisingly, a large number of workers across the globe think their chances of a pay or title boost are pretty low. Here's how to bust out of that cycle and propel your career forward.
Could These High-Flying Tech Stocks Start Paying a Dividend?
Alphabet, Facebook, and Adobe don't do it yet, but that could change sooner than you think.