The board of directors at First Niagara Financial Group Inc. in Lockport, N.Y., said late Friday it had replaced Paul J. Kolkmeyer as its president and chief executive officer, because of "differences in management style."
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John R. Koelmel, the $8 billion-asset company's chief financial officer, was named its president, chief operating officer, and acting CEO. Robert G. Weber, the board's chairman, said in a press release that the board is not searching for a CEO at this time.
Mr. Kolkmeyer had been the president and CEO since December 2003. In addition to leaving these positions, he resigned as a director of the company and its First Niagara Bank.
