PHOENIX -- Valley National Corp. said Monday that Robert F.B. Logan, president and chief operating officer, will retire from an active role early next year.
He will be replaced by John W. Westman, 51, senior vice president and chief financial officer of Ohio-based Banc One Corp., which announced in April that it would buy Valley.
Mr. Logan, 60, president since 1990, was credited with negotiating the acquisition. He joined Arizona's largest banking company in 1989 from Citicorp, where he worked with Richard J. Lehmann, 48, now Valley's chairman and chief executive.
Mr. Logan, who will continue as a Valley director and consultant, "accomplished the goals he originally set and has chosen to step down," said Mr. Lehmann.
Before joining Banc One in 1987, Mr. Westman was general manager of the microwave products division of General Electric Co. in Owensboro, Ky.
Robert D. Sznewajs, 44 Valley's chief retail executive, who was in line to succeed Mr. Logan, will become president of Banc One Credit Card Services Co.
