Webster Financial (WBS) has released an update to notify the public and investors about its officers.
Webster Financial Corporation announced the appointment of Luis Massiani as President and COO, effective February 1, 2024, who will also maintain his roles at Webster Bank. John Ciulla will become President of the Bank while continuing as CEO of both the Bank and the Company. Concurrent with these changes, Jack L. Kopnisky will transition from Executive Chairman to a strategic consultant role. Additionally, Massiani’s salary will increase to $900,000 and he will enter into a Change in Control and Non-Competition Agreement with new compensatory arrangements. The Company will also amend the severance benefits in Christopher Motl’s existing Change in Control Agreement.
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For a comprehensive understanding of the announcement, you can read the full document here.
