Camden National Appoints Marie J. McCarthy as Vice-Chair Amid Leadership Transition

Camden National Corporation Announces Strategic Leadership Transition

Camden National Corporation, a prominent player in the financial services sector, appoints Marie J. McCarthy as Vice-Chair of its Board of Directors, effective immediately. This strategic move not only reinforces the company’s governance structure but also positions McCarthy to take over as Chair upon the retirement of Lawrence "Larry" J. Sterrs in December 2025. McCarthy, who has served as an independent Board member since 2018, has notably chaired the Compensation Committee and been a key member of the Technology Committee. Her extensive experience, particularly from her time at L.L.Bean, where she excelled in real estate and operational strategies, is expected to bring fresh insights into the Board's focus on long-term value creation.

As Camden National Bank approaches its 150th anniversary, the timing of this leadership transition underscores the company's commitment to evolving its governance while ensuring continuity. Sterrs, who has led the Board since 2017, acknowledges the importance of a smooth succession process, emphasizing that McCarthy’s leadership style aligns with the company’s mission. Her disciplined approach to strategy and strong emphasis on customer experience, highlighted by President and CEO Simon Griffiths, positions her as a pivotal figure in steering Camden National through its next chapter. The transition reflects an ongoing commitment to maintaining robust leadership while adapting to the changing dynamics of the financial industry.

McCarthy’s appointment not only enhances the Board's capabilities but also signifies Camden National's dedication to fostering a culture of excellence. With her global perspective and expertise in organizational dynamics, McCarthy is poised to influence the company’s strategic direction positively. This leadership change comes at a critical juncture for Camden National, as it prepares to celebrate a century and a half of service to its community and stakeholders. The Board's forward-looking approach aims to strengthen the bank's operational framework and ensure it remains a competitive and responsible financial institution.

In addition to this leadership transition, Camden National continues to uphold its mission of serving both its business interests and the community. The company’s strategic focus on governance and customer satisfaction positions it well to navigate future challenges in the financial services industry. As McCarthy steps into her new role, the emphasis on strategic leadership and community engagement remains at the forefront of Camden National's operational ethos.