American National board chair Charles Majors retires, Jeffrey Haley to succeed

American National Bankshares announced the retirement of its Board Chair, new Board leadership and nominees, and executive promotions. After over 41 years on American National’s Board of Directors, Charles Majors will retire as a director and Chair of the Board of the Company and American National Bank and Trust Company, effective at the conclusion of the Company’s Annual Meeting of Shareholders on May 16, 2023. Jeffrey Haley will then assume the role of Chair of the Board of the Company and the Bank, while remaining as President and CEO. At the same time, Nancy Howell Agee will become Lead Independent Director, succeeding Michael Haley. The Company’s Board of Directors has nominated Rickey Barker and Adrian Smith for election as new directors at the Annual Meeting. J. Nathan Duggins III and William Farrell II, who were appointed as directors by the Board in October 2022, have been nominated for new terms, as have the following directors whose current terms are expiring: Tammy Moss Finley, Dan Pleasant, and Joel Shepherd. Current directors whose terms do not expire and who will remain in office are: Nancy Howell Agee, Jeffrey Haley, Michael Haley, F.D. Hornaday, III, John Love, and Ronda Penn. Jeffrey Farrar and Edward Martin have each been promoted to Senior Executive Vice President of the Company and the Bank, reporting directly to Jeffrey Haley. Management areas reporting to Farrar will include finance, operations, information technology, and risk. Management areas reporting to Martin will including commercial and consumer banking, wealth management, human resources, and marketing.