SouthState in Winter Haven, Fla., will eliminate the position of executive chairman, separating employment with former CEO Robert Hill Jr.
The $43.9 billion-asset SouthState disclosed in a regulatory filing that it eliminated the position “as part of a broader, ongoing effort to enhance the independence of the company’s board,” the filing said.
Hill’s separation will be effective after SouthState’s annual meeting on April 26. On that date, Doug Hertz, SouthState’s lead independent director, will become the company’s independent chair, serving an initial one-year term.
Hill was president and CEO from 2004 until the company’s 2020 merger with CenterState Bank.