Seacoast Banking Corporation of Florida announced that Charles (Chuck) Shaffer, current executive vice president, chief operating officer (COO), and chief financial officer (CFO), has been promoted to president and COO and will become chief executive officer (CEO) and a member of the Company’s board of directors in December 2020. Tracey Dexter, the Company’s current controller, has been promoted to executive vice president and CFO. Dennis S. Hudson, III, the Company’s current chairman of the board of directors and CEO, will become executive chairman of the board of directors in December 2020. Jennings “Jay” Walker, the Company’s current treasurer, has been promoted to executive vice president, treasurer and director of corporate strategy.
As executive chairman, Hudson will ensure a seamless transition for the Company as Shaffer assumes his new role of president and CEO. Hudson took over leadership of the Company from his father and uncle in 1992. Hudson’s grandfather originally chartered Seacoast in Florida in 1926.
“We’re transitioning leadership according to a careful and methodical plan we’ve had in place for some time,” Hudson said. “During the past several years, Chuck has demonstrated through his excellent execution of our balanced growth strategy that he is the right person to lead Seacoast. He’s been instrumental in positioning Seacoast for what we believe will be a vibrant future.”
Shaffer was appointed COO and CFO in May 2019 after serving as executive vice president and CFO since January 2017. He led the Company’s community banking group from October 2013 to January 2017. As a key driver in the Company’s growth strategy, Chuck was instrumental in influencing Seacoast’s retail, commercial banking, wealth, digital, and non-branch distribution strategies, as well as designing and working across the organization at all levels to drive peer-leading earnings performance. He served as senior vice president and controller from December 2005 through September 2013.
Shaffer, a native of Florida, holds a bachelor of science degree in finance from Florida State University, a bachelor of arts degree in accounting from Florida Atlantic University, a master of business administration with a finance specialization from the University of Central Florida, and is a graduate of the advanced management program at the University of Pennsylvania Wharton School of Business. He is a certified public accountant (CPA) licensed in the state of Florida.
Hudson partnered closely with the Company’s board of directors to orchestrate the planning and preparation for the transition to a new management team.
“During the last few years, we have added significant talent to our board of directors and have strengthened our management team to develop and implement a winning strategy. The leadership team has been very successful and we believe is well prepared to continue to build value for shareholders and customers utilizing this same strategy,” said Hudson. “While my role will change in December, as executive chairman and as the Company’s largest individual shareholder, my commitment to ensuring Seacoast continues to outperform is stronger than ever. My commitment to preserve our culture and carry on my family’s legacy of customer service and support for the communities we serve will remain.”
Dexter, the Company’s new CFO, joined in January 2017 as its controller. Before joining Seacoast, Dexter was with PwC’s Banking and Capital Markets Practice for 12 years in audit and advisory roles, including senior manager in Florida, New York City, and at the firm’s national office. Her areas of focus included SEC/financial reporting, capital markets transaction activity, internal controls, and accounting policy.
Dexter is a CPA licensed to practice in the state of Florida. She has a bachelor of science degree in finance from Florida State University and a bachelor of business administration in accounting from Florida Atlantic University.
Walker, treasurer and director of corporate strategy, joined the Company in March 2010 and has been responsible for its balance sheet and investment management strategy, financial planning, and was the Company’s controller from 2013 to 2015. In his new role, Walker also will be responsible for general corporate development and strategic capital allocation.
Walker has a master of business administration from the University of Florida and a bachelor of business administration in accounting from Florida Gulf Coast University.
Hudson confirmed that the executives being promoted participated in the development of the Company’s growth strategy. “Chuck, Tracey, Jay – they are all talented leaders and share a common vision of how to continue Seacoast’s disciplined growth and success,” said Hudson. “I have the utmost confidence in them and the rest of the executive team and am excited about the Company’s future.”