The board of directors of Anchor BanCorp Wisconsin (ABCW) and AnchorBank, fsb, have appointed Chris Bauer as President and CEO of Anchor BanCorp Wisconsin and as well as CEO of the AnchorBank.
Mr. Bauer replaces Douglas Timmerman as President and CEO of Anchor BanCorp and Mark Timmerman CEO of AnchorBank. The AnchorBank has reported that Mark Timmerman continues in the role of President of AnchorBank. He will relinquish his role on the ABCW board of directors while retaining his position as Executive Vice President of ABCW.
Mr. Bauer said: “It is a challenging and transformational period in the financial services sector, and I am thrilled to be joining Anchor BanCorp and AnchorBank at this time. I am looking forward to working with the Board, Mark and the rest of the Anchor management team to help navigate the organization through the current environment and emerge even stronger.”
Douglas Timmerman said: “I cannot think of a better addition to our team than Chris Bauer. His experience and proven leadership capabilities will help ensure the future success of Anchor BanCorp Wisconsin and AnchorBank. These changes bring the structure of our Board and Executive Management group in line with current best practices. This structure will enhance the independence of the Board of Directors by separating the Chairmanship and the CEO roles.
