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NBT Bancorp elects chairman, who plans to retire as president, CEO

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NBT Bancorp elects chairman, who plans to retire as president, CEO

NBT BancorpInc.'s board on May 3 elected Martin Dietrich chairman, followingthe retirement ofDaryl Forsythe.

Dietrich, who currently serves as president and of the Norwich, N.Y.-basedcompany and unit NBT BankNA, plans to retire from active employment in December 2016.

The company's board endorsed promoting John Watt Jr. to presidentof the bank, effective immediately, and having him succeed Dietrich as CEO ofthe company and the bank upon retirement.

The board's succession plan also calls for expanded rolesfor other members of NBT's executive management team. Theresponsibilities of Executive Vice President Timothy Brenner, who also servesas president of wealth management, were expanded to include oversight of allnonbank business, including wealth management and financial services, NBTBancorp's 401(K) plan recordkeeping firm, EPIC Advisors Inc. and NBT-MangInsurance Agency.

Also, Executive Vice President Matthew Durkee was promotedto president of New England, and Executive Vice President Joseph Stagliano nowhas responsibility for retail banking in addition to his duties as chiefinformation officer. Stagliano's new title is executive vice president ofoperations and retail banking.