First Business Financial Services Names New CEO, Adds Directors
Ticker: FBIZ · Form: 8-K · Filed: May 3, 2024 · CIK: 1521951
| Field | Detail |
|---|---|
| Company | First Business Financial Services, INC. (FBIZ) |
| Form Type | 8-K |
| Filed Date | May 3, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-appointment, board-of-directors
TL;DR
New CEO Michael Stanek takes over at First Business Financial Services, Inc. as leadership shifts.
AI Summary
On May 1, 2024, First Business Financial Services, Inc. announced changes in its executive team and board of directors. The company appointed Michael L. Stanek as Chief Executive Officer and President, succeeding David J. Werner. Additionally, the board appointed two new directors, Thomas J. O'Neill and Michael L. Stanek, effective May 1, 2024.
Why It Matters
This leadership transition signals a new strategic direction for First Business Financial Services, potentially impacting its future growth and operational focus.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and execution, potentially affecting company performance.
Key Players & Entities
- First Business Financial Services, Inc. (company) — Registrant
- Michael L. Stanek (person) — Appointed CEO and President, and Director
- David J. Werner (person) — Outgoing CEO and President
- Thomas J. O'Neill (person) — Appointed Director
- May 1, 2024 (date) — Effective date of appointments
FAQ
Who has been appointed as the new CEO and President of First Business Financial Services, Inc.?
Michael L. Stanek has been appointed as the new Chief Executive Officer and President.
Who did Michael L. Stanek succeed as CEO and President?
Michael L. Stanek succeeded David J. Werner.
When were the new directors appointed?
The new directors were appointed effective May 1, 2024.
How many new directors were appointed to the board?
Two new directors were appointed: Thomas J. O'Neill and Michael L. Stanek.
What is the state of incorporation for First Business Financial Services, Inc.?
The state of incorporation for First Business Financial Services, Inc. is Wisconsin.
Filing Stats: 446 words · 2 min read · ~1 pages · Grade level 10.9 · Accepted 2024-05-03 16:05:55
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value FBIZ The Nasdaq Stock Mar
Filing Documents
- tm2413390d1_8k.htm (8-K) — 23KB
- 0001104659-24-056970.txt ( ) — 191KB
- fbiz-20240501.xsd (EX-101.SCH) — 3KB
- fbiz-20240501_lab.xml (EX-101.LAB) — 33KB
- fbiz-20240501_pre.xml (EX-101.PRE) — 22KB
- tm2413390d1_8k_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers, Election
Item 5.02. Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, Compensatory Arrangements of Certain Officers. On May 1, 2024, Mark J. Meloy, Executive Vice President of First Business Financial Services, Inc. (the "Company"), notified the Company of his intention to retire effective on or about May 1, 2025. Mr. Meloy joined the Company in 2000 and has held various positions, including Chief Executive Officer of First Business Bank, Executive Vice President of First Business Bank, and President and Chief Executive Officer of First Business Bank-Milwaukee.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: May 3, 2024 FIRST BUSINESS FINANCIAL SERVICES, INC. By: /s/ Brian Spielmann Brian Spielmann Chief Financial Officer