Amalgamated Bank in New York has its first female chairman.

The $3.8 billion-asset company said in a press release Thursday that Lynne Fox will succeed Noel Beasley, who decided to step down after retiring from the Workers United union. Beasley had been chairman since 2011.

Fox is the international president of Workers United and manager of the Philadelphia Joint Board for Workers United, where she oversees 75,000 members in the United States and Canada.

First lady: Lynne Fox was named Amalgamated Bank's first chairman. She is the first woman to lead the bank's board.

"I have spent my entire career working with progressive organizations to promote the power of labor and organizing, and I am excited and proud to continue promoting these values as a leader of the board," Fox said in the release.

Fox also serves as a vice president on the Philadelphia AFL-CIO Council and is a representative on the Philadelphia Airport Advisory Board.

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