As expected, Dennis Kuester, 65, retired as chief executive officer of Marshall & Ilsley Corp. at the company's annual meeting of shareholders today in Milwaukee.
Kuester is succeeded by Mark Furlong, 50, who will serve as CEO of both the company and M&I Marshall & Ilsley Bank. Kuester will continue to serve as chairman of the board.
This transition was announced in December as part of the corporation's succession plan for senior executives.
In other business at the meeting today, David Lubar was elected to company's board of directors. Lubar, 52, is president of Lubar & Co. Inc., a private equity investment firm and family office located in Milwaukee. He serves on the boards of directors for Lubar & Co., Lake Express, Marshall Erdman & Associates, Rockland Industrial Products, Wrightwood Capital, the Milwaukee Brewers Baseball Club, the Wisconsin Policy Research Institute, and the Metropolitan Milwaukee Association of Commerce. In addition, Lubar serves on the advisory board for the University of Wisconsin-Milwaukee School of Business.
In addition to Kuester, the following directors were re-elected to the M&I board: Jon Chait, chairman of the board and CEO of Hudson Highland Group Inc.; San Orr Jr., chairman of the board and director of Wausau Paper Corp.; Debra Waller, chairman of the board and CEO of Jockey International Inc.; and George Wardeberg, retired vice chairman of the board, Wisconsin Energy Corp.
Furlong succeeds Kuester at M&I helm
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