Business & Tech
Guilford Savings Bank CEO to Retire; Guilford Resident Tim Geelan Named Successor
Margaret Y. Livingston, President & CEO of Guilford Savings Bank (GSB) has announced her retirement, effective January 31, 2014, according to a recent press release from the bank.
In a recent press release, Guilford Saving Bank announced that Margaret Y. Livingston, President & CEO of Guilford Savings Bank will be retiring effective January 31, 2014. According to the release, The Board of Corporators voted unanimously to elect Timothy P. Geelan, currently the Bank's Executive VP & COO to succeed Livingston as President & CEO at its April meetin
The release states that the timing of Livingston’s retirement is no surprise to the Bank’s Senior Management Team or the Board of Trustees. A detailed succession plan has been in the works for some time, and the transition will be seamless for both the staff and public.
“For years, we’ve been working together to ensure that we have a strong and balanced Senior Management Team,” Livingston remarked in the the release. “We’ve worked carefully to ensure GSB remains a sound, healthy institution with relevant products that meet all the financial needs of our businesses and consumers. I believe this mission will be carried forward under Tim’s direction.”
Geelan, Livinston's successor, brings with him over 25 years of experience, the pres release states, and currently lives in Guilford with his wife and children. The release stated Geelan is also an active volunteer, having served as the president for both the Guilford Foundation and the Guilford Chamber of Commerce.
“I am both humbled and honored to be presented with this opportunity,” said Geelan in the press release. “The Bank is positioned extremely well and I am very fortunate to have a fantastic group of committed folks around me. I owe a debt of gratitude to Margaret and other mentors along the way. The foundation is set; my job is to help carry it forward.”
Guilford Resident Charles Havrda, Chairman of the Board of Trustees, is confident in Tim’s ability to lead the Bank, according to the release.
“In recent years, GSB has enhanced its technology and products,” Havrda said in the release. “As our customers’ needs and wants evolve, so do we, but we never lose sight of who we are.”
For more information and the full press release, click here.
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