Middlefield Banc Corp. Announces CEO Retirement and Succession Plan

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Thomas G. Caldwell to Retire on March 31, 2022
Internal and External Search Underway as Part of Existing Succession Plan

MIDDLEFIELD, Ohio, June 18, 2021 (GLOBE NEWSWIRE) — Middlefield Banc Corp. (NASDAQ:MBCN) today announced that President and Chief Executive Officer Thomas G. Caldwell plans to retire from Middlefield Banc Corp. and The Middlefield Banking Company as of March 31, 2022. Mr. Caldwell intends to complete his term as a director of Middlefield Banc Corp. that will end at the Company's 2022 annual meeting of shareholders. As part of the Company's existing succession plan, an internal and external search is currently underway and a successor is expected to be appointed in the coming months, ensuring a smooth transition.

“On behalf of Middlefield's employees, management team, and Board of Directors, I want to thank Tom for his 35 years of dedication and service, including 26 years as President and CEO of The Middlefield Banking Company,” stated William J. Skidmore, Chair of the Board of Middlefield. “Under Tom's leadership, Middlefield has grown significantly, achieved strong financial performance, and built a robust platform for long-term success. In addition, since going public in 2001 Middlefield has grown to achieve a market capitalization of $153 million as of June 1, 2021.   I wish Tom well on his retirement and …

Full story available on Benzinga.com

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