Carver Bancorp Inc. has announced a comprehensive board modernization initiative aimed at advancing its transformation into a modern urban community bank. The company plans a 75% turnover among its board directors over the next three years and will implement skills-based recruitment to ensure a diverse range of expertise. All directors, except for the CEO if elected, will be independent, and the board will have an independent non-executive chair. Carver will also restructure equity-based compensation to align directors' interests with long-term value creation and increased ownership stakes, while preserving capital flexibility. The company has appointed Jason Sisack, a former Assistant Deputy Comptroller at the OCC, as Senior Enterprise Risk Management Advisor to the CEO to provide guidance on governance and risk management as these changes are implemented. The initiative is designed to align board policies with those of leading companies, enhance fiduciary commitment to shareholders, and support Carver's mission of financially empowering everyday New Yorkers.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Carver Bancorp Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: NY16110) on November 05, 2025, and is solely responsible for the information contained therein.
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