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A longtime director of the troubled First Financial Northwest (FFNW) has retired from the Renton, Wash., company's board.
December 31 -
CEO Victor Karpiak will resign as chairman, and Stilwell Group will add a representative to the Washington company's board.
December 20 -
First Financial Northwest (FFNW), a company under fire from activist shareholders and regulators, will replace the chief executive of its banking unit next month and has made another important management change.
August 11 -
Activist investor Joseph Stilwell is not winning much outside support in his bid to force changes at First Financial Northwest (FFNW) in Renton, Wash.
May 16 -
A proxy battle at First Financial Northwest has gotten nasty after an activist investor labeled the company's leaders as "idiots" who are "deficient in judgment or lacking in character."
April 18
The president and chief executive of First Financial Northwest (FFNW) in Renton, Wash., will step down next week.
Victor Karpiak spent 36 years at the $902 million-asset company, First Financial said in its announcement Thursday. He will be succeeded by Joseph Kiley, who has served as president and CEO of First Financial's banking unit, First Savings Bank Northwest, since September. The management change is part of a planned succession
Karpiak's retirement comes after several years of
"On behalf of the boards of directors of the company and the bank, I want to express our sincere appreciation to Victor for the leadership and direction that he provided the company and the bank during his 36 years of dedicated service," Chairman Gary Kohlwes said in the release. "The management, staff, and directors are very grateful for his contributions to the company and we wish him well."
First Financial also announced that Richard Jacobson, its chief financial officer, will serve as chief operating officer and as a director of the company. All changes take effect Sept. 1.
