The Camden National Corp. Board of Directors elected Lawrence “Larry” J. Sterrs to succeed Karen Stanley as chair of the company and Camden National Bank effective Sept. 17. Stanley, who joined the Camden National Corp. Board of Directors in 2008 and became chair in 2010, retired from the board on Sept. 17. John Holmes, who has served on the board since 1988, retired on Sept. 15 after 29 devoted years.
For the past seven years, Camden National Corp. has flourished under Stanley’s leadership. Highlights of her tenure include Camden National Bank’s acquisition of 14 banking centers from Bank of America in 2012, acquisition of The Bank of Maine in 2015, and consolidation and rebranding of Acadia Trust to Camden National Wealth Management in 2016.
“We are grateful for the wealth of business experience and community commitment that Karen and John have brought to the board of directors,” said Greg Dufour, president and CEO. “Karen’s expertise and leadership as Chair have ensured that Camden National Corp. grows significantly as a Maine-based business with local roots and innovative products and services. We thank Karen and John for their dedication, strategic oversight, and steadfast commitment, and we wish them well in their personal and professional pursuits.”
Sterrs has served on the Camden National Corp. Board of Directors since January 2015, and he was named vice chair effective January of this year. He is a member of the Compensation Committee and the Technology Committee, and became chair of the Governance and Risk Committee when he succeeded Stanley as board chair. He brings more than 40 years of professional experience in the telecommunications industry.
Sterrs brings deep experience with strategic planning and operational management having previously worked for ConTel Corp. and BerryDunn McNeil and Parker LLC. He is an experienced board leader holding previous positions on both for-profit and nonprofit boards.