West Coast Community Bancorp Announces Leadership Changes and New Governance Roles

West Coast Community Bancorp Announces Board Leadership Transition

West Coast Community Bancorp (OTCQX: WCCB), the parent company of West Coast Community Bank, has announced notable changes to its Board of Directors aimed at enhancing governance and leadership. This restructuring comes after nearly two decades of service from outgoing Chairman Stephen Pahl.

Retirement of Chairman Stephen Pahl

Stephen Pahl has officially retired from his role as Chairman of the Board after 18 years with the organization. His tenure has seen significant growth and evolution within the bank, and his contributions have been instrumental in shaping its direction. Krista Snelling, who serves as the company’s Chief Executive Officer, has been appointed as the new Chairman, effectively combining the top two roles in the company.

Appointment of Krista Snelling

Krista Snelling's ascension to Chairman highlights the confidence the Board has in her leadership abilities. Her dual role as CEO and Chairman is expected to foster stronger alignment between the bank’s management team and its governing body. Snelling expressed gratitude for Pahl’s leadership and assured stakeholders of her commitment to maintaining the bank's focus on customer service and community engagement.

New Leadership Role for Wayne Doiguchi

In a strategic move to bolster its governance framework, West Coast Community Bancorp has also announced the creation of a new position, Lead Independent Director. Wayne Doiguchi has been appointed to this role. With his extensive experience, including previous leadership roles in community banking and as a director of a Nasdaq-listed bank, Doiguchi's insights will be beneficial in overseeing the Board’s activities independently.

Welcoming Judy Bornstein to the Board

Furthermore, the Board has strengthened its ranks by welcoming Judy Bornstein as a new independent director. Bornstein brings over two decades of expertise in finance and governance, holding significant leadership roles in private equity and compliance. Her background, which includes positions as CFO and CCO at various financial institutions, equips her well for her responsibilities on the Audit Committee.

Krista Snelling stated, "I am confident in the strength of our leadership team and our ability to continue delivering for our clients, communities, and shareholders." This sentiment emphasizes the continuity of the bank's strategic vision amidst leadership transitions.

Emphasizing Strong Governance

Wayne Doiguchi added, "Unifying the roles of Chairman and CEO ensures strong alignment between management and the Board in driving long-term value for all our stakeholders." This new governance structure is intended to create a focused approach to overseeing the bank’s operations and ensuring that it remains responsive to the needs of its clients and shareholders.

Looking Forward

Bornstein expressed her excitement in joining the Board, highlighting her eagerness to leverage her extensive experience in finance for the bank's growth. The reforms and appointments illustrate West Coast Community Bancorp's commitment to progressive governance practices as it navigates its future.

Founded in 2004, West Coast Community Bank, based in Santa Cruz, California, differentiates itself from larger banks through its personalized service and community-oriented approach. The bank's dedication to supporting local nonprofits and stakeholders underscores its mission of enhancing community well-being.

By implementing these changes, West Coast Community Bancorp reaffirms its commitment to robust governance and strategic leadership as it continues to fulfill its mission in the financial sector.