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Union Bankshares in Vermont begins search for next CEO

Union Bankshares in Morrisville, Vt., is looking for a new CEO.

The company disclosed in a regulatory filing that David Silverman will also retire as president next year. The board plans to conduct a comprehensive search for his successor, including the formation of a subcommittee of independent directors from the nominating and governance committee.

That subcommittee is expected to be appointed at the May 21 board meeting.

Silverman will remain president and CEO until his successor is named and a transition period is completed. He will remain on the board following his retirement.

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