German American Bancorp, Inc. and German American Bank have announced the next steps of their previously disclosed ongoing management succession plan. The company’s board of directors, at its recent annual reorganization meeting, approved the following changes effective as of Jan. 1, 2022:
Mark A. Schroeder will be assuming the position of Executive Chairman, D. Neil Dauby will be assuming the position of President and CEO and Bradley M. Rust will transition to an expanded role of Senior Executive Vice President and COO while also continuing in his current Chief Financial Officer role. Dauby has also been appointed to the boards of both organizations effective immediately.
Schroeder, who has been with German American for the entirety of his 49 years of banking industry experience, has served as the company’s chief executive officer since Jan. 1, 1999 and a member of the board since Jan. 1, 1991. He will act in a senior advisory capacity as he assumes his new role as Executive Chairman in anticipation of his expected retirement as an executive officer in the second quarter of 2022. It is expected that Schroeder will continue to serve as chairman of the board until the completion of his current board term at the 2023 annual shareholders’ meeting.
Dauby joined German American in 2001 and will assume the CEO role as of Jan. 1, 2022. Rust joined German American in 1999 in connection with the company’s merger with 1ST Bancorp of Vincennes.
