Larry Johnson is relinquishing his posts as president and CEO of Duluth, Minn.-based North Shore Bank of Commerce, according to a news release posted on the Hermantown Area Chamber of Commerce's website.

He will be replaced by his son, Kenneth Johnson, effective Jan. 1, 2017. The younger Johnson is the company's current COO.

Meanwhile, Vice Chairman Fred Lewis will assume the post of president of the holding company North Shore Financial Corp.

Larry Johnson will serve as a special adviser to the board of directors before retiring in April 2018.