In a recent 8K filing, New York Community Bancorp (NYSE: NYSE:NYCB) announced significant changes to its Board of Directors. The company revealed the resignation of two board members, Lawrence Savarese and David Treadwell, with the latter's departure effective Monday. According to the statement, these resignations were not due to any disagreements with the company's operations, policies, or practices.
Following Treadwell's exit, Alan Frank was appointed to the Board and as Chair of the Audit Committee, effective immediately. Frank brings considerable experience to NYCB, having spent four decades at Deloitte & Touche LLP, including a tenure as an audit partner. His career highlights include leading audit service teams and overseeing the consumer business and middle market audit practices in Southern California.
Frank's expertise extends to mergers and acquisitions, financial reporting, initial public offerings, and working with high growth companies. He also currently serves as Chairman of the Audit Committee of Andalusian Credit Company, LLC, and has held director positions at CIT, CIT Bank, N.A., and OneWest Bank N.A.
The Board at New York Community Bancorp remains structured into three classes, with Frank set to serve a term that concludes at the 2024 annual meeting of stockholders. His educational background includes a Bachelor of Science Degree from the University of Southern California.
This strategic appointment comes as NYCB continues to navigate the complexities of the financial sector, with Frank's extensive background poised to contribute to the company's governance and oversight. The information for this article is based on a press release statement.
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