Univest Financial in Souderton, Pa., plans to combine its chairman and CEO positions.
The $7.6 billion-asset company disclosed in a regulatory filing that Jeffrey Schweitzer, its president and CEO, will become its chairman on Jan. 1. He is currently vice chairman.
Schweitzer, who joined Univest in 2007, has led the company since January 2014.
The board, which said it reviews its leadership structure annually, said that Joseph Beebe would become its lead director on Jan. 1.