Berkshire Hills Bancorp has a new chairman.
The $12.3 billion-asset company said in a Wednesday press release that Bill Dunlaevy retired from the board over the weekend. David Brunelle succeeded Dunlaevy as chairman as “part of a preestablished succession plan,” Berkshire said.
Brunelle, co-founder and managing director or North Pointe Wealth Management, had been vice chairman and chaired the audit committee. He joined the board in 2017.
Berkshire also said that Jeffrey Kip, CEO of Angi International, had joined the board. Kip, a former chief financial officer at Panera Bread, was appointed to the audit and compensation committees.
“It has been an honor to lead the … board over the last two years, working closely with the board and management team to improve our performance and affirm our commitment to purpose-driven, community-dedicated banking,” Dunlaevy said in the release.
The board changes come a day after Berkshire announced plans to sell its insurance business. The sale is part of a broader strategy by Berkshire to improve investor returns over the next three years.