McGraw has been with Renasant since 2004
In an SEC filing last week, Renasant Corp. said Chief Executive Officer and Chairman Robin McGraw will step down as CEO on May 1, 2018.
Renasant said the plans are “in accordance with the previously-announced long-term succession plan” filed in 2008.
Mitch Waycaster will assume the role of CEO of both the company and its wholly owned subsidiary, Renasant Bank, at that time. After the transition, McGraw will serve as executive chairman of the company and the bank.
According to Renasant, McGraw and the company on April 25 entered into an amendment to his employment agreement, which will be effective as of next May. After relinquishing his CEO role, McGraw will serve as executive chairman and will spend no more than 60 percent of the time that he previously spent as CEO.McGraw’s term as executive chairman is through May 2, 2020. After that, it can be renewed on a year-to-year basis.
Mitch Waycaster was named president and chief operating officer in 2016.
He also will be paid 60 percent of his base compensation as in effect on April 30, 2018. McGraw also remains eligible for annual and long-term cash and equity incentives.
McGraw joined what was then The People’s Bank and Trust Co. in 1974. It was renamed Renasant after a merger with the Memphis-based bank in 2004.
For a profile on McGraw written by our sister publication, the Mississippi Business Journal, click here .
Waycaster last year was named president and chief operating officer of both Renasant Corp. and Renasant Bank. He joined the bank in 1979 and has held several leadership positions with the company, including president of Renasant Bank’s Mississippi Division, executive vice president of retail banking and senior vice president and chief credit officer.