Heritage Financial (HFWA) has issued an announcement.
Heritage Financial Corporation has unveiled a CEO transition plan, where Jeffrey J. Deuel will step down as CEO in May 2025 but remain with the company in a non-officer role. Bryan D. McDonald, the current COO, has been named the new President and CEO, effective immediately. New employment agreements have been established to facilitate this transition and outline the financial arrangements, including salary, bonuses, benefits, and severance terms, as well as restrictive covenants for both executives.
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