M&T Vice Chairman Michael Pinto Resigns For Health Reasons
President Mark Czarnecki Named Chief Operating Officer; CFO Rene Jones and EVP
Kevin Pearson Become Vice Chairs of M&T Bank
BUFFALO, N.Y., Jan. 7, 2014
BUFFALO, N.Y., Jan. 7, 2014 /PRNewswire/ --M&T Bank Corporation ("M&T")
(NYSE: MTB) announced today that Vice Chairman Michael P. Pinto, 57, has
resigned from M&T's board of directors due to a serious medical condition.
However, Mr. Pinto will continue as Vice Chairman of M&T Bank, M&T's primary
banking subsidiary, on a part-time basis in an advisory role.
"Mike needs to devote time and energy to his treatment, and we support him and
his family completely," said Robert G. Wilmers, M&T's Chairman and CEO.
Mr. Pinto joined M&T Bank in 1985. He was named Executive Vice President and
Chief Financial Officer in 1996. He was appointed Vice Chairman of M&T Bank
and elected to the boards of M&T and M&T Bank in 2003, and was named Chairman
and CEO of the Mid-Atlantic division of M&T Bank in 2005. Mr. Pinto was named
Vice Chairman of the Board of M&T in 2007.
"Mike has been a leader in our disciplined approach to mergers and
acquisitions, our efficient operating model and our focus on creating and
preserving shareholder value. Not coincidentally, his tenure has been
concurrent with a period of tremendous growth for the bank," Mr. Wilmers
said. "Moreover, Mike is one of the people who helped instil M&T's community
banking philosophy—our enduring and uncompromising commitment to the cultural
attributes which set us apart in both good times and bad. A company's culture
is bigger than any one person, but Mike stands as tall as any."
Following Mr. Pinto's resignation, M&T announced that President Mark J.
Czarnecki, 58, has also been named Chief Operating Officer, effective
immediately. As such, Mr. Czarnecki assumes added responsibilities for the
day-to-day management of the company, including coordination of the bank's
credit, audit and risk divisions. He will continue to report to Mr. Wilmers.
Furthermore, M&T announced that Chief Financial Officer Rene F. Jones and
Executive Vice President Kevin J. Pearson have been named Vice Chairmen of M&T
Bank, and with expanded roles, will now report to Mr. Wilmers as well.
In addition to his current duties, Mr. Jones, 49, now assumes responsibility
for Wilmington Trust, M&T Bank's wealth and institutional trust management
subsidiary, and for M&T Bank's treasury division. Mr. Jones joined M&T in
1992, and succeeded Mr. Pinto as Chief Financial Officer in 2005.
Mr. Pearson, 52, will now oversee the bank's entire commercial banking line of
business. Pearson joined M&T in 1989, and has been leading the bank's New
York metropolitan markets since 2002. He is a member of M&T's Management
Committee and Chairman of the bank's Senior Loan Committee.
"Mark, Rene and Kevin bring a combined total of 83 years of experience at M&T
to their roles, and each has contributed significantly to the organization we
have built, the culture we have created and the success we have achieved.
Working side-by-side with the rest of our experienced management team, they
will provide sound leadership and guidance as we navigate, not just through
Mike's treatment, but through a challenging and dynamic banking environment as
well," said Mr. Wilmers.
"In his absence, but in accordance with his wishes, we will focus our
attention on running the bank, while Mike focuses on his health. Today,
therefore, we announce changes that are necessary to position our company for
future growth and success—and to preserve our deep commitment to our
customers, employees and shareholders, and to our community banking values,"
MEDIA CONTACT: C. Michael Zabel
INVESTOR CONTACT: Donald J. MacLeod
SOURCE M&T Bank Corporation
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