ROCHESTER, N.Y., June 27,
2024 /PRNewswire/ -- Genesee Regional Bank (GRB), a
locally owned and operated bank specializing in commercial banking,
personal banking, and residential mortgage lending, announces that
after 23 years in the role, E. Philip
Saunders has decided to step down as Chairman of the Board.
Saunders will remain a Director of the GRB Board and continue to
serve as Chairman of the bank's holding company, Greater Rochester
Bancorp. Longtime GRB board member Steven
Sauer has been selected as the bank's new Chairman. The new
roles are effective immediately.
"GRB has enjoyed significant growth since its inception, and we
see tremendous opportunity for continued growth in the future. Mr.
Saunders' leadership has shaped GRB from top to bottom," said GRB
President and CEO Philip L. Pecora.
"With Saunders as Chair since 2001, assets have grown from
$48 million to $1.1 billion. Mr. Saunders, who has driven the
entrepreneurial spirit of GRB from its beginning, will remain
integral in setting the bank's overall strategic vision."
E. Philip Saunders is a business
icon in the Greater Rochester
region, founding and investing in a wide range of businesses
throughout his more than 65-year business career. When selecting
the new Chairperson to lead GRB, Saunders saw in Sauer the
qualities needed to guide the bank's growth while staying true to
its mission of serving our local communities.
"Steve has been a valued member of the GRB Board of Directors
for almost 20 years. Working with him so closely over the years
made it clear that he was the right choice to keep moving the bank
– and the Greater Rochester
community – in the right direction," said Saunders. "With Steve's
previous commercial banking experience, you have the perfect blend
of business insight and community focus. He represents the dynamic
progression that we want for GRB. I look forward to continuing
working with him to further GRB's community banking mission."
Steven Sauer, a member of
GRB's Board of Directors since 2005, brings a broad range of
experience to the position of Chairman of the Board at GRB. Sauer
began his career in banking as a commercial lender before joining a
small business. As COO and then CEO of Business Methods, Inc.,
Sauer turned the struggling company around and grew it to more than
$30 million in revenue before selling
it to Toshiba in 2004. Sauer stayed on with Toshiba Business
Systems (TBS), holding a variety of regional and sales positions
before being named president of TBS in 2020. Last year, Sauer was
promoted to the role of Chief Revenue Officer for Toshiba America
Business Solutions and is responsible for increasing the company's
revenue and profitability via its U.S. direct and indirect sales
channels.
Sauer holds a Master of Business Administration degree from
Rochester Institute of Technology and a
Bachelor of Science degree from the State
University of New York College at Geneseo. He is also a
graduate of the Harvard Business School
Executive Education Owner/President Management Program.
"Carrying on the mission of GRB is an extraordinary opportunity.
I am grateful to be in a position where I can lead GRB's Board and
continue to help support the local business community," said Sauer.
"Mr. Saunders has always set an example for the GRB Board and its
executive leadership. He is an unwavering champion for small
business owners. As Chairman of the Board, I plan to follow that
path and stay true to GRB's founding principles."
CONTACT
Stacey
Michaels, Marketing Director
Genesee Regional Bank
585-249-1540
379720@email4pr.com
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SOURCE Genesee Regional Bank