INDUSTRY BANCSHARES NAMES NEW EXECUTIVE CHAIRMAN, CEO
Industry Bancshares has announced a change in leadership.
According to an internal press release provided by Industry Bancshares, the Board of Directors moved last week to elect Carl Chaney as Executive Chairman and Brian Hobart as Chief Executive Officer, effective immediately.
Chaney and Hobart have worked with Industry Bancshares as consultants since February 1st.
The release described the two as “key leaders of the capital raise offering”. A capital raise is when a company asks investors to provide capital through equity or debt.
The board stated that it has been “extremely pleased with the knowledge, hard work, and skillset that Chaney and Hobart have brought to Industry.” Board President J. Doak Hartley said the board “felt very strongly that this was the right decision at the right time.”
According to the release, CEO Jim Kruse “is no longer with Industry” as a result of this transition. Industry Bancshares said it wishes Kruse well in his future endeavors.
After a 20-year career at Blue Bell, Kruse joined Industry Bancshares in 2015 as the Vice President of Financial Planning and Analysis. He was named Executive Vice President of Bank of Brenham in January 2016 before being named President of the bank in April of that same year. He served in that role for seven years before becoming the CEO of Industry Bancshares this past fall.