NBT Bancorp Elects Martin Dietrich As Chairman

NBT Bancorp Inc. (NASDAQ: NBTB) said that its board elected Martin Dietrich, its President and CEO, as Chairman on May 3 after the retirement of Daryl Forsythe. According to the company, Dietrich disclosed his plan to retire from active employment in December 2016.NBT Bancorp said that Dietrich started his career in financial services with NBT Bank, N.A. in 1981. Later in 1995, he joined the Bank's senior management team. In 2000, Dietrich became president of the Bank; advanced to president and CEO of the Bank and president of NBT in 2004. Finally, he became the CEO of NBT in 2006. He has been with Bank Board of Directors since 2005.Dietrich commented that "NBT has benefited from consistent leadership for several decades. We are pleased to have the resources within our organization to create this succession plan. The Board's unanimous endorsement of the plan speaks to the high level of confidence they have in John Watt and NBT's entire Executive Management Team."The company also announced several other management changes as part of its succession plan. the company also expanded the role of some of its executives. The stock traded 0.04% down on Wednesday.