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Old Kent Bank CEO and President Robert Sadler's recent retirement announcement wraps up the financial institution's turnover to a new generation of management.
Sadler, who joined Old Kent in 1965, will continue to serve as CEO and as vice chairman of the bank's holding company, Old Kent Financial Corp., until his official retirement early next year. The bank, however, has named a new president, Kevin Kabat, senior executive vice president of Old Kent Financial and COO of the bank since February.
The changing of the guard at the almost-135-year-old bank has been in the works as far back as the past decade, according to Sadler. He is the last of several top managers to step down in recent years as they reached retirement, including two others within the past two months.
"We had a management team that was all about the same age and had been together for a long time," Sadler told the Business...