Republic First Bank, Driver Management reach cooperation agreement
Republic First Bank announced Oct. 4 it entered into a multiyear cooperation agreement with the Driver Management activist investor group.
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Republic First Bank announced Oct. 4 it entered into a multiyear cooperation agreement with the Driver Management activist investor group.
As the Republic First Bank saga moves through its post-proxy-fight phase, there has been no slowdown in the back-and-forth.
After a bruising proxy fight that led to the ouster of the Philadelphia bank's former chairman and CEO Vernon Hill, remaining stakeholders find themselves in disagreement over a potential sale of the the company.
Harry Madonna – Republic Bank's founder, former CEO and board chair – has been named interim CEO. Vernon Hill has resigned from the boards.