Community Bank System elects new independent director

DeWITT — Community Bank System, Inc. (NYSE: CBU) recently announced the election of Michele Sullivan to its board of directors as a new independent director, effective Feb. 1. Sullivan is a retired partner of Crowe LLP, a Chicago–based public accounting, consulting, and technology firm, serving in its consulting practice specializing in the financial-services sector. She worked with top U.S. banks and global banks, as well as mid-market insurance carriers and fintech companies, providing consulting services on risk, compliance, internal audit, technology, strategic acquisitions, merger integration, and governance matters. Sullivan is a certified public accountant (CPA) and a certified risk management professional (CRMA). Sullivan joined Crowe in 1992 and, prior to her retirement in March 2023, served on the firm’s board of directors for seven years and its audit and risk committee. During her time on Crowe’s board, she developed and led the Corporate Governance Strategic Initiative. Sullivan’s election expands Community Bank System’s board to 14 directors, 12 of whom are independent. She was also appointed to the board of directors of Community Bank, N.A., the company’s wholly-owned banking subsidiary. She will also serve on the board’s audit committee and risk committee. “Her audit, compliance, governance and risk management experience as a partner at Crowe are valuable additions to the board,” Eric E. Stickels, Community Bank System board chair, said in a news release “[Sullivan’s] appointment reflects the Board’s continued focus on enhancing the Board’s depth of experience and diversity to ensure an appropriate level of expertise and perspective to provide effective oversight of the Company and its subsidiaries.” Sullivan graduated from Indiana University with a bachelor’s degree in accounting and has completed board and corporate governance course work through Northwestern University’s Kellogg School of Management executive development program. Community Bank System is a diversified financial-services company focused on four main business lines — banking, benefits administration, insurance services, and wealth management — with total assets of $15.4 billion. Its banking subsidiary, Community Bank, N.A., is among the nation’s 100 largest banks and operates more than 200 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts.