Chartwell Partners Assists Dieterich Bank with CEO Search

April 6, 2023 – Executive search firm Chartwell Partners has assisted in the placement of Jason Semple as the new CEO of Dieterich Bank, effective May 1. He succeeds Chuck Deters who is retiring after 15 years with the bank. “Chartwell’s financial services team was pleased to partner with the board of directors on this CEO succession project,” the firm said. “We are delighted to welcome Jason as our new leader,” said Bob Willenborg, chairman of the board. “The board, in accordance with our established succession planning process engaged an executive search firm to conduct a nationwide search, which included both external and internal candidates.”

“Jason’s familiarity with our community values and the strategic direction of the bank, his leadership skills and significant experience in finance, lending and mergers and acquisitions, were important attributes in his selection,” Mr. Willenborg said. “The board looks forward to working with Jason in the months and years ahead as we continue to execute on our strategies to meet the evolving needs of our stakeholders.”

Mr. Semple joined the bank in 2014 as chief financial officer after serving for five years in a variety of treasury and financial analyst and operations positions at a multi-billion asset midwestern bank. He began his career with the accounting firm of Crowe Horwath LLP as a senior associate CPA. Active in many community and industry affairs, Mr. Semple was a former board member of the Effingham Regional Growth Alliance and currently serves as a board member of the Effingham Park District.

“In early 2022, I notified the board of my desire to retire so we would have adequate time to select and establish a seamless transition plan for my successor,” said Mr. Deters. “It’s been an honor to serve as CEO during this transformational period for the banking industry. I’m looking forward to working actively with Jason through the transition period.”

Proven Recruiters

Chartwell Partners is focused on identifying and recruiting senior executives and board members for clients in four specific industries: biopharmaceuticalshealthcare servicesfinancial services, and real estate.

Related: Chartwell Partners Recruits CEO for Four Plus Corporation

William Ward,  a co-founding partner of Chartwell Partners, is based in Dallas. His search experience has spanned over 25 years and has exclusively focused on healthcare. His healthcare search experience has included helping to find corporate directors, C-suite executives, and numerous functional leaders, including operations, finance, sales and marketing, business development, and IT. He has worked with clients in most healthcare service sectors, including acute care, long-term care/post-acute, supply chain/distribution, ambulatory surgery, pharmacy services, home health, and hospice. Mr. Ward has also worked extensively with both large public companies and many notable private equity-backed businesses as well.

Stuart Bush is a co-founding partner and has spent over 30 years in the executive recruiting industry. His specialization areas include healthcare, insurance, and business services, with particular emphasis on general management, corporate directors, and corporate financial officers.

Insider or Outsider?

Recruiters focused on finding talent for the C-suite say that at least half of all job openings are filled by internal candidates before the positions are introduced to the public job market. This may suggest that companies have relatively reliable bench strength even though leadership development is seen as stagnating at many companies. The main reason given: Companies prefer to promote from within.

Chartwell Partners Recruits CEO for The Citizens Bank of Philadelphia
Chartwell Partners has placed Stacy M. Brantley as the new CEO of The Citizens Bank of Philadelphia in Philadelphia, MS. With leader Greg McKee’s retirement, the bank’s executive committee will assume the responsibilities of the CEO of the bank starting this week until Mr. Brantley takes the helm on Feb. 13. “We conducted a national search for our next CEO, and Stacy quickly rose to the top of a very competitive candidate slate,” said Hub King, board chairman at The Citizens Bank. “We are thrilled to have Stacy lead our organization through its next chapter of growth and maturity, and I look forward to working with him.”

For those searches that go to recruiters, with a clear mandate to look wide and deep both inside and outside a client organization, internal candidates still surface more often and get the job about 80 percent of the time.

Recruiters say clients generally like to be seen as making bold moves but in the end many remain risk averse when it comes to hiring elite executives, especially into their highly protected upper leadership ranks. They look at insiders as safer bets. Knowing this mindset going in, recruiters say they advise their clients that when they have an inside candidate who is 70 percent as strong as an outside choice to hire the insider. Fit and culture seem to be the deciding factor.

“There is a greater risk when you bring somebody in from the outside that it won’t work out,” said Kathleen Yazbak, founder of Boston-based Viewcrest Advisors, a boutique search firm focused on finding leadership talent for mission-driven and high-performing companies, social enterprises, and philanthropies.

Internal candidates know the business model, organization goals, and inside cultures, say recruiters, and oftentimes they have the requisite skills. They know the customers, clients, and co-workers. They have also established relationships with colleagues and their organization’s leaders. But, more importantly, they have already shown their potential. They can, therefore, assimilate faster and will likely be more satisfied in their new roles than outside hires.

Related: Chartwell Recruits COO for Triumph Business Capital

Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media

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