A big shareholder at Hawthorn Bancshares wants the Jefferson City, Mo., company to split the roles of chairman and CEO.
Ategra Community Financial Institution Fund, which owns about 6.3% of the $1.3 billion-asset company's stock, said in a regulatory filing that it believes the move would "ensure greater oversight and accountability."
"By setting agendas, priorities and procedures, the chairman is critical in shaping the work of the board," Jonathan Holtaway, a managing member of the group that runs Ategra, added in a letter attached to the filing.
David Turner has Hawthorn's chairman and CEO since January 2011. He succeeded James Smith, who held both posts from March 2002 to December 2010.
Hawthorn historically has held its annual meeting in June.