The retirement plans of Alan W. Ott, the senior executive of Chemical Financial Corp. in Midland, Mich., are reverberating through the $1.7 billion-asset banking company and its subsidiaries.

Mr. Ott, who will reach age 65 in December, will relinquish his executive posts then but remain with the holding company and its lead bank, Chemical Bank and Trust Co., as nonexecutive chairman.

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