#USA #Camden #Board of Directors #Camden National #Marie McCarthy

Leadership Transition at Camden National Corporation

Camden National Corporation, one of the leading banking institutions in Northern New England, has recently made a significant announcement regarding its leadership structure. The company revealed that Marie J. McCarthy has been appointed as the new Vice-Chair of the Board of Directors and will take over as Chair upon the retirement of the long-serving Lawrence “Larry” J. Sterrs at the end of December 2025.

This decision marks a pivotal moment in the strategic direction of Camden National, as Mr. Sterrs has played a crucial role in guiding the company for over a decade, particularly as Chair since 2017. His leadership has been instrumental in navigating challenges and fostering growth within the organization. In his farewell statement, he expressed his heartfelt appreciation for the support he received during his tenure and his confidence in McCarthy's ability to lead the Board successfully.

McCarthy’s Extensive Experience

Marie McCarthy brings with her a wealth of experience, having served as an independent member of the Board since 2018. Her prominent role includes chairing the Compensation Committee and active participation in the Technology Committee, where her insights have continually influenced the company’s strategic decisions. With over 30 years of experience at L.L.Bean, where she held various leadership positions, McCarthy’s expertise in operations and human resources is well-regarded. Her recent position as Chief Operations Officer allowed her to significantly influence corporate strategy and customer satisfaction, resulting in substantial operational enhancements across the organization.

The transition has been described as a “thoughtful and well-executed succession process,” aimed at maintaining leadership continuity and ensuring that Camden National remains poised for long-term value creation. Simon Griffiths, President and CEO of Camden National, highlighted McCarthy’s disciplined approach and her unique ability to blend global perspectives with community-focused strategies, making her an invaluable asset for the company moving forward.

Looking Ahead

In her acceptance statement, McCarthy expressed her excitement about the new role and commitment to upholding the values that have become synonymous with Camden National. She emphasized building on Larry’s effective leadership and prioritizing the company’s mission as it celebrates a significant milestone in its history — the 150th anniversary of Camden National Bank.

In addition to her roles at Camden National, McCarthy also serves on the Boards of Directors for Maine Health and the Olympia Snowe Women’s Leadership Institute, underlining her dedication to community and diversity. This demonstrates her commitment not only to the company but also to broader societal goals, enhancing her role within Camden National.

Camden National Corporation, listed on the NASDAQ under the symbol CAC, stands as the largest publicly traded banking entity in Northern New England, managing assets worth $6.9 billion. With 72 banking centers strategically located throughout Maine and New Hampshire, it offers a comprehensive range of personal and digital banking services.

As the company prepares for this leadership transition in the coming months, all eyes will be on McCarthy as she steps into her new role as Chair of the Board, tasked with guiding Camden National through the next chapter of its storied history.