Ronald Paul retires as Eagle Bancorp CEO, citing health issue
Ronald Paul, longtime chairman and CEO of Eagle Bancorp in Bethesda, Md., has retired.
Paul, 62, stepped down due to “serious health developments which would substantially interfere with his ability to perform his duties,” the $8.4 billion-asset company said in a Thursday press release.
Eagle did not disclose any specifics on Paul’s health, though he was diagnosed in the 1980s with glomerulosclerosis, a kidney disease that can result in kidney failure. He received a kidney from his brother in 1990, and another in 2009 from Kathy McCallum, the chief financial officer for his real estate company.
Paul and his wife established a kidney center at George Washington University in 2015. He was chairman of the National Kidney Foundation from 2002 to 2003.
Eagle appointed Norman Pozez, the company’s vice chairman and a director since 2008, to succeed Paul as chairman. Susan Riel, chief operating officer of EagleBank, was named interim president and CEO.
The board will review alternatives for a permanent successor in coming weeks.
“I am very disappointed to have to make this decision, but I do not believe it would be fair to the company, its employees, customers and shareholders when my health prevents me from devoting my full attention to helping them develop and prosper,” Paul said in the release.
“Over the past 21 years, we at EagleBank have together built a strong, profitable enterprise, committed to providing a superior banking experience and enhancing the communities in which it operates,” Paul added. “I have every confidence that the team we have built will carry on all of these traditions.”
Paul has led Eagle since its formation in 1997. He was named one of American Banker’s Community Bankers of the Year in 2012.