NASHVILLE, Tenn., Nov. 23, 2015 (GLOBE NEWSWIRE) -- Effective January 1, 2016, Charles W. Cook, Jr. will retire as Chairman of the Board of Directors and as a Director of Truxton Corporation (OTCPK:TRUX) and its wholly owned subsidiary, Truxton Trust Company, the company's Board of Directors announced today. Mr. Cook will become Chairman Emeritus upon his retirement. Also effective January 1, 2016, the company's CEO, Thomas S. Stumb, will become Chairman of the Board, and the company's CFO, Andrew L. May, will become President and rejoin the company's Board of Directors.
Mr. Cook was an organizer, founding director, and Vice Chairman of the company in 2003, and he has served as its Chairman since December 2009. Mr. Stumb, also an organizer and founding director of the company, has served as its President since its inception and as Chief Executive Officer since July 2008. Mr. Stumb will remain Chief Executive Officer of the company. Mr. May served as a director of the company from 2008 until he joined the company as its Chief Financial Officer in October 2010. Mr. May will remain Chief Financial Officer in addition to his new duties as President.
"The transition announced today has been planned over the past few years," said Chairman Cook. "The Board of Directors and I have great confidence in Tom Stumb and Andy May, and these promotions reflect that confidence. The future of our company looks very bright and I'm going to continue to do all I can to help our business continue to grow and prosper in the years ahead."
A full-service bank and wealth management firm organized in 2003, Truxton Trust services include personal and business loans, depository accounts, wealth management and trust services. Personal, expert service is the bank's hallmark. Customers benefit from direct contact with senior-level, experienced bank executives who have decision-making authority and a full understanding of the local community and the client's relationship with the bank.