Fulton Financial (FULT) tossed out a tempting tidbit to investors on Wednesday it has found a new chief financial officer.
Charles Nugent, the $17 billion-asset company's CFO, plans to retire at the end of the year. The Lancaster, Pa., company disclosed Nugent's retirement plans in May, hiring a search firm to help find a successor. Nugent has been Fulton's CFO since 1992.
"We have identified a candidate that we are pleased with, and we will be anticipating making an announcement very soon," Philip Wenger, Fulton's chairman, president and chief executive, said during a conference call to discuss quarterly results. It is an external candidate, he said in response to an analyst's question. Wenger is also relatively new to his role, succeeded Scott Smith earlier this year.
A Fulton spokeswoman declined to offer add to what Wenger said during the conference call. "We will be sending out an announcement in the next few days," Laura Wakeley said.