Chemung Financial Corporation Announces Executive Vice President's Retirement and Succession Plan

Strategic Insights -

Chemung Financial Corporation's Executive Vice President, Thomas W. Wirth, has formally notified the company of his retirement, effective October 1, 2025. Wirth has been a key figure in the company's success, serving in various leadership roles since joining the company's wholly owned subsidiary, Chemung Canal Trust Company, in 1987. As part of the succession plan, Jeffrey P. Kenefick, Executive Vice President and Regional President, will assume the role of interim head of the Wealth Management Group. The company plans to enter into a post-employment consulting agreement with Wirth, providing strategic support for approximately six months.

Key Takeaways:

  • Thomas W. Wirth, Executive Vice President of Chemung Financial Corporation, is retiring effective October 1, 2025, after 38 years of service.
  • Jeffrey P. Kenefick will serve as interim head of the Wealth Management Group, starting October 1, 2025.
  • The company will enter into a post-employment consulting agreement with Wirth, providing strategic support for approximately six months.
  • Wirth's retirement was previously disclosed in a Current Report on Form 8-K dated March 14, 2025.
  • The company intends to conduct a search for a permanent successor to the Wealth Management Group.

Statistics:

  • 38 years: length of service of Thomas W. Wirth at Chemung Canal Trust Company.
  • 6 months: anticipated term of the post-employment consulting agreement with Wirth.
  • October 1, 2025: effective date of Thomas W. Wirth's retirement and Jeffrey P. Kenefick's appointment as interim head of the Wealth Management Group.

Sources:

  • Edgar Online, via COMTEX
  • Current Report on Form 8-K dated March 14, 2025, Sun, Mar 16, 2025 06:14 AM Sarah Mulholland ( [c] 2025 BLOOMBERG LP)