Griffith, who has steered the parent company of City Bank, will remain involved in the firm’s strategic direction under a retirement and consultancy agreement designed to ensure a seamless handover of duties. The board confirmed that Newsom will continue to serve as a director alongside his new executive responsibilities.
In section Market Quotes
Cory Newsom Steps into CEO Role at South Plains Financial
Lubbock-based South Plains Financial will transition to new leadership on December 31, as current president Cory Newsom assumes the chief executive officer role. He succeeds Curtis Griffith, the longtime head who will pivot to a consultative capacity while retaining his seat as chairman of the board.
Alongside the management shift, the company finalized plans to repurchase 300,000 shares of common stock from Griffith by June 30. This private transaction will be priced according to the closing market value recorded on the day preceding the repurchase, marking a significant consolidation of equity as the company enters this next chapter.
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