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Investing.com -- EQB Inc (TSX:EQB) stock gained 1.9% after the company announced that Chadwick Westlake will be appointed as President and CEO, effective August 25, 2025. Westlake, the company’s former CFO, will succeed the late Andrew Moor following years of succession planning.
The Board of Directors unanimously selected Westlake after reviewing numerous candidates. During his tenure as CFO from 2020 to March 2025, Westlake played a key role in EQB’s strategic growth, including the acquisition and integration of Concentra Bank, the addition of ACM Advisors, and the expansion of Equitable Bank’s capital markets capabilities.
"Chadwick possesses all the leadership qualities and skill sets the board identified as necessary to take EQB to the next level for our customers, employees and shareholders," said Vincenza Sera, Chair of the Board. Sera noted that Westlake "stood above all others" among the candidates reviewed.
Westlake will rejoin EQB from OpenText Corporation, where he currently serves as Executive Vice President & CFO. He was recently named one of Canada’s 2025 Best Executives by The Globe and Mail. Before his time at EQB, Westlake spent 18 years at Scotiabank (TSX:BNS) in progressively senior roles.
Marlene Lenarduzzi, who has been serving as interim President and CEO, will return to her role as Chief Risk Officer when Westlake assumes his position in August 2025.
The succession decision follows a process that began several years ago with support from the late Andrew Moor, with a special committee led by Board Director Susan Ericksen guiding the selection process.