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.
At the holding company, Aloysius J. Oliver, executive vice president, will succeed him Jan. 1 as president and chief executive and will become a director.
At the lead bank, David B. Ramaker will succeed Mr. Ott as chief executive on Jan. 1. Earlier, on Sept. 1, he will succeed Lawrence Burks as president and become a director; Mr. Burks will become vice chairman and remain chief lending officer.
At Chemical Bank Key State in Owosso, where Mr. Ramaker is now president and chief executive, John F. Harrison will succeed him Sept. 1 and become a director. Robert L. Hardy will succeed Mr. Harrison as senior vice president.