The chief executive of BOK Financial (BOKF) has decided to step down after 40 years with the Tulsa, Okla., company.

Stanley Lybarger, 62, plans to retire at the end of the year, the $27 billion-asset company announced Tuesday. Steven Bradshaw will succeed him as president and chief executive.

Bradshaw, 52, is a senior executive vice president at BOK Financial, overseeing the company's consumer banking, wealth management, mortgage and certain other business. He joined the company in 1991.

Daniel Ellinor will become chief operating officer following Lybarger's retirement, BOK also announced. It has not had a COO since the 1990s, when Lybarger held the position for several years before being named CEO.

Ellinor, 50, is BOK's senior executive vice president, overseeing the majority of the company's commercial lending, international banking and treasury services. He joined the company in 2003.

Lybarger joined BOK as a management trainee in 1974. He became president and chief operating officer of its Bank of Oklahoma subsidiary in 1989, and became chief executive officer of the bank and the parent company in 1996.

After his retirement, he will continue to sit on BOK's board.

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