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.
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