Beginning on May 21st, 2024, NBT President and Chief Executive Officer, John H. Watt Jr. will stop down, NBT Bancorp Inc. announced on Monday. NBT says Watt will continue to serve on the Board of Directors and also be named Vice Chairman in May. Watt will offer strategic support for NBT’s Upstate New York Semiconductor Chip Corridor initiatives and serve as an advisor for the remainder of the year.
“I am deeply grateful for the opportunity to lead NBT and to work with the team I truly believe is the best in community banking,” said Watt. “I am proud of the way we serve our customers and communities and how we have continued to create long-term value for our shareholders. The Board has been very supportive of our strategy, and I am also thankful for their guidance over the last 7 years.”
The bank’s Board of Directors have announced Scott A. Kingsley will succeed Watt as President and Chief Executive Officer for NBT, after a 10-month process. Kingsley is currently Chief Financial Officer, he will be appointed to the Board of Directors when he takes on his new role in May.
Additionally, NBT’s President of Retail Community Banking and Chief Information Officer, Joseph R. Stagliano, has been promoted to President of NBT Bank, effective May 21st. NBT’s Chief Accounting Officer, Annette L. Burns, will be promoted to Chief Financial Officer, effective May 21st as well.
“On behalf of the Board of Directors, I offer our sincere thanks to John Watt for the vision and energy he has invested in the leadership of the Company and for the effective direction he has provided to the NBT team, particularly through the global pandemic. We are fortunate to have an aligned Executive Management Team with strong and experienced leaders like Scott Kingsley, Joe Stagliano, and Annette Burns who are poised to assume these top leadership roles as we move forward with this succession plan in May.” NBT Board Chairman Martin A. Dietrich said in a release.
Kingsley joined NBT back in 2021 and has over 35 years of experience, including 16 years as Chief Executive Officer for Community Bank System, Inc. Stagliano joined NBT in 1999 and has over 30 years of experience in the financial services industry. Burns joined NBT in 2013 during the company’s acquisition of Alliance Bancorp. She has over 25 years of experience in accounting and financing.