California BanCorp announces the retirement of CEO Steven Shelton and the appointment of David Rainer as the new CEO. This move signifies a significant change in leadership at the company.
Steven Shelton retired from the position of Chief Executive Officer and Director of the Company and the Bank, effective as of December 31, 2025. Shelton's departure marks the end of an era in California BanCorp's leadership.
David Rainer has been appointed as the new Chief Executive Officer and Chairman of California BanCorp, effective December 31, 2025. Rainer's appointment brings a fresh perspective and strategic direction to the company.
Retirement of Steven Shelton
Steven Shelton retired from his roles as CEO and Director of California BanCorp and California Bank of Commerce after serving until December 31, 2025. Shelton's departure creates an opportunity for a new leader to steer the company towards future growth.
Appointment of David Rainer
David Rainer has been appointed as the new CEO and Chairman of California BanCorp, commencing December 31, 2025. Rainer's extensive experience and strategic vision position him to lead California BanCorp into its next phase of development.
Gratitude Towards Shelton
The board and management expressed gratitude towards Steven Shelton for his role in the company's growth and development, particularly during the 2024 merger. Shelton's contributions have been instrumental in shaping California BanCorp's trajectory.
- The retirement of Steven Shelton and the appointment of David Rainer mark a significant leadership change within California BanCorp. This transition indicates a strategic shift in the company's direction and operational focus.
- David Rainer's appointment brings fresh leadership to guide California BanCorp's future direction and growth strategy. Rainer's expertise and strategic acumen are expected to drive innovation and performance at the company.
The retirement of Steven Shelton and the appointment of David Rainer signify a new era in California BanCorp's leadership. The company anticipates continued success and growth under Rainer's guidance, solidifying its position in the market.