CCB Financial Corp. has named its president and chief executive officer, Ernest C. Roessler, to the additional post of chairman.

He succeeds William L. Burns Jr., who retired as chairman Wednesday and was elected chairman emeritus of the $7.3 billion-asset banking company.

Mr. Roessler, 57, joined CCB as executive vice president and chief financial officer in 1988 and became president and CEO in 1993.

Mr. Burns, 70, joined the company in 1960; He was named president and CEO in 1974 and has been chairman since 1993.

CCB Financial, parent of Central Carolina Bank and Trust Co., also elected director Eugene J. McDonald, 65, to the newly created post of executive vice chairman.

Mr. McDonald, president of an asset management firm affiliated with Duke University, has been a CCB director since 1985. He will act as the lead independent director and help Mr. Roessler run the board of directors.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.