The challengers from Texas seeking two seats on the board of Five Star Bank’s parent company have selected their opponents.
Activist shareholder Johnny Guerry and an ally of his, Terry Philen Jr., had already declared they were running for seats on Financial Institutions’ board. But until now, Guerry and Philen had not specified which two of the four bank-backed candidates on the ballot whom they were running against.
Guerry and Philen are asking shareholders to support them instead of Samuel Gullo and Kim E. VanGelder. Gullo, a director since 2000, has owned and operated a furniture business since 1976. VanGelder, chief information officer at Eastman Kodak, was nominated by the bank to fill a vacancy that will be created at the annual meeting on June 3, when James L. Robinson’s term expires. Robinson did not seek re-election.
The other two candidates up for election are incumbents Martin K. Birmingham, who is the bank’s president and CEO, and James Wyckoff, a major shareholder. The board consists of 11 members altogether.
Guerry is managing partner of Texas-based Clover Partners. Philen is chief financial officer of Custom Extrusions Holdings in Texas.