Lafayette-based MidSouth Bancorp Inc. today announced it has fired its top two executives: Rusty Cloutier, founder, president and CEO of the corporation; and his son Troy Cloutier, president and CEO of MidSouth Bank.
The Advertiser reports the decision was part of a transition plan already underway to improve the company’s performance.
Senior executive vice president and CFO Jim McLemore has been appointed interim president and CEO of the bank and holding company. MidSouth says McLemore will retain those duties at this time, and the changes are effective immediately.
“The board of directors is fully supportive of Mr. McLemore in his immediate endeavors as President and CEO,” Jake Delhomme, chairman of MidSouth Bancorp Inc.’s board of directors, says in a statement.
As part of the transition, former Scottrade Financial Service executive Erin DeWitt has been hired as chief risk officer and former USAmeriBank’s EVP-chief operating officer Kade Peterson as chief information officer.
MidSouth Bancorp held assets of $1.9 billion last month and trades on the New York Stock Exchange under the symbol “MSL.” The bank has 57 locations in Louisiana and Texas.
