Short to succeed Murphy as CEO at 1st Source
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Diverging Reports Breakdown
Short to succeed Murphy as CEO at 1st Source
1st Source Corporation announced a planned leadership transition effective Oct. 1. Christopher J. Murphy III steps down as CEO after 50 years and assumes the role of executive chairman. CFO Brett Bauer will remain in his role as the leadership team set its targets for the future.
Andrea Short, currently president of 1st Source Corp. and CEO of 1st Source Bank, will become president and CEO of the corporation while retaining her CEO role at the bank, according to the July 24 announcement. Executive Vice President and Chief Digital Officer Kevin Murphy, will be promoted to president of 1st Source Bank, continuing the fourth generation of family leadership.
The succession plan is the culmination of a multiyear strategy aimed at sustaining long-term growth. Each leader has held diverse roles across the organization, according to the release. Short brings extensive operational, strategic, and client service expertise, while Kevin Murphy has led key digital, regional and technology initiatives during his 19-year career at the bank.
Christopher Murphy will remain actively involved in board oversight and long-term strategic planning. CFO Brett Bauer will remain in his role as the leadership team set its targets for the future of the $9.1 billion financial institution.
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