Codorus Valley Bancorp Inc. has announced the retirement of the long-time chairman of its board of directors and enacted a succession plan that puts the company’s leader in the post.
The York Township-based bank holding company for PeoplesBank announced Tuesday that Rodney L. Krebs has retired as the chairman of the board of both companies. Krebs had been on the boards since 1988 and has been chairman of both companies since 2000.
Effective immediately, Larry J. Miller takes over as chairman of the board of both companies. Miller has been the president and CEO of the bank since 1981 and the corporation since 1986. He has been the vice chairman on both boards since 2004.
D. Reed Anderson takes over as vice chairman of both boards and its lead director. He has been on both boards since 1994.
Miller said the moves were part of a succession plan the bank had in place. Krebs had reached the company’s mandatory retirement age. He turned 75 on Aug. 8, according to the company’s proxy statement released in April.
In the statement, the company said it anticipated the elevation of Miller to take Krebs’ place.
“We were so very fortunate to have had Chairman Krebs lead us as we navigated the Great Recession,” Miller said in an email. “His quiet but determined leadership style, always exuding a positive message and urging the leadership team to continue with the company’s business plan, positioned us for where we are today. I am honored to follow in the path that he has cleared.”