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Umpqua Chairman Raymond Davis to retire

Raymond Davis is retiring from the boards of Umpqua Holdings Corp. and Umpqua Bank, where he is chairman.

Davis was previously president and CEO of the company for more than two decades. He steps down as director, effective Dec. 31. His retirement as an employee of the Oregon-based entities takes effect Jan. 2, 2018.

Lead director Peggy Fowler succeeds him as chair.