WSFS Financial Corp. of Wilmington, Del., said Thursday that it is setting in motion a succession plan it developed five years ago.
It calls for Marvin N. "Skip" Schoenhals, the longtime chairman, president, and chief executive of the company and its $3 billion-asset Wilmington Savings Fund Society, to scale back his duties in two months.
Mark A. Turner, who has been a co-chief operating officer since 2001, will become the president and CEO as of the April 26 annual shareholders meeting. He also will join the boards of the parent company and the savings bank at that time.
Mr. Schoenhals has been president and CEO since 1990 and chairman since 1992. He will remain the full-time chairman of the thrift and the holding company, WSFS said.
Mr. Turner joined WSFS in 1996.
