Glenville, N.Y.-based TrustCo Bank Corp NY named Dennis De Gennaro as independent lead director and Robert McCormick as board chair.
TrustCo Bank Corp. amended its corporate governance guidelines by adding the position of an independent lead director and removed the requirement of having the board chair be an independent director. The changes affect the company and subsidiary TrustCo Bank.
De Gennaro's appointment will be effective Jan. 1, 2019. Both De Gennaro and McCormick will serve a term ending Dec. 31, 2019, or the date the board elects their respective successor, whichever is earlier.
De Gennaro has been serving as board chairman since Jan. 1, 2016. McCormick is TrustCo Bank Corp.'s president and CEO since January 2004, according to S&P Global Market Intelligence data.