Management ChangeApr 9, 2026, 05:06 PM
BayCom Corp Announces Major Leadership Overhaul: CEO, COO, and CFO Terminated, New Executives Appointed
AI Summary
BayCom Corp's Board of Directors approved a significant leadership transition on April 7, 2026, terminating its Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer without cause. George J. Guarini, who served as President and CEO since 2017 for the Company and 2004 for the Bank, will cease his executive roles on April 10, 2026, transitioning to a non-executive role until July 6, 2026. The company has appointed an Executive Vice Chair, a new CEO, and a new CFO, alongside related changes to the Board, signaling a strategic shift aimed at long-term objectives.
Key Highlights
- On April 7, 2026, BayCom Corp's Board of Directors approved the termination without cause of its Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer.
- George J. Guarini, President and CEO since 2017 (Company) and 2004 (Bank), will cease his executive roles on April 10, 2026.
- Mr. Guarini will continue as a full-time, non-executive employee from April 10, 2026, through July 6, 2026, receiving base salary and benefits while providing transition assistance.
- The Board approved the appointment of an Executive Vice Chair, a new CEO, and a new CFO.
- Related changes to the composition of the Board of Directors for both BayCom Corp and its subsidiary, United Business Bank, were also approved.
- The leadership transition is stated to be part of the Company's ongoing commitment to its long-term strategic objectives.