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Community Bank System Promotes COO Dimitar Karaivanov To Succeed Mark Tryniski As President And CEO
(RTTNews) - Community Bank System, Inc. (CBU) announced Wednesday that Mark Tryniski will retire as the Company's President and Chief Executive Officer, effective as of December 31, 2023. He joined the Company in 2003 as Chief Financial Officer and has been at the helm of the company and its wholly owned banking subsidiary, Community Bank, N.A. since August 2006.
Tryniski has agreed, if nominated, to serve as a Director of the Company and the Bank until December 31, 2024.
The Board of Directors has selected Dimitar Karaivanov, the Company's Executive Vice President and Chief Operating Officer, to succeed Tryniski effective as of January 1, 2024. The Board will also expand to 13 Directors and appoint Karaivanov as a Director of the Company and the Bank effective as of January 1, 2024.
Karaivanov joined the Company in June 2021 as its Executive Vice President of Financial Services and Corporate Development. He was appointed COO in October 2022, adding responsibility for the Company's banking business - Community Bank, N.A.
Prior to joining the Company, Karaivanov served as Managing Director in Lazard's Financial Institutions Group and has extensive experience as an investment banker for banks, other financial institutions, and fintech companies at a number of leading financial services firms.
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