Management ChangeJul 23, 2026, 06:11 AM
CVB Financial Appoints Michael J. Maddox to Board
AI Summary
CVB Financial Corp. announced the appointment of Michael J. Maddox as a Board Member for both the Company and its subsidiary, Citizens Business Bank, effective July 22, 2026. Mr. Maddox will serve on multiple key committees for both entities and will receive an annual directors' fee of $77,000, along with a pro-rated restricted stock grant. His appointment led to the expansion of both Boards of Directors from 10 to 11 members, aiming to enhance skill sets, geographic representation, and diversity.
Key Highlights
- Michael J. Maddox appointed as Board Member of CVB Financial Corp. and Citizens Business Bank, effective July 22, 2026.
- Mr. Maddox will serve on the Audit, Nominating and Corporate Governance, and Compensation Committees of the Company.
- He will also serve on the Risk Management, Balance Sheet Management, and Trust Services Committees of the Bank.
- Mr. Maddox will receive a $77,000 annual directors' fee.
- He will receive a pro-rated initial grant of restricted stock, valued at approximately ten-twelfths of $85,000.
- The Boards of Directors for both the Company and the Bank were expanded from 10 to 11 members.
Price Impact
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