Webster Financial Corporation announced the appointment of Jason E. Schugel as Chief Risk Officer (CRO) and Executive Vice President, effective July 14. Mr. Schugel brings over 25 years of strategic financial, audit, and risk management experience, including his previous role as CRO for Ally Bank.
The company also appointed Frederick (Fred) J. Crawford as an independent member of the Board of Directors for both Webster Financial Corporation and Webster Bank, effective July 1, 2025. Mr. Crawford previously served as President and Chief Operating Officer of AFLAC and held CFO positions at CNO Financial Group and Lincoln Financial Group.
CEO John Ciulla emphasized that both appointments will enhance Webster's resiliency and strategic insights. He noted Mr. Schugel's significant knowledge of governance and risk management will be invaluable in navigating the regulatory landscape, while Mr. Crawford's deep experience leading large complex organizations will strengthen the Board's ability to create long-term value. The Board of Directors was expanded from 12 to 13 members.
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