Cathleen A. Schmidt. Ms. Schmidt has extensive leadership experience in banking and professional services. She most recently served as Chief Executive Officer at McLane Middleton, the largest full-service business law firm headquartered in Manchester, New Hampshire with offices in Massachusetts. Ms. Schmidt previously served as the President and CEO of Citizens Bank New Hampshire/Vermont. In addition, she held positions at M&T Bank in upstate New York and began her career at Old Stone Bank in Providence, Rhode Island. She has a passion for the community, and has served as Chair of the Business and Industry Association of New Hampshire, Chair of Granite United Way Board of Directors, and Chair of the New Hampshire Business Committee for the Arts. She has served as a Director of Cambridge Bancorp and Cambridge Trust since 2016. Ms. Schmidt received her Bachelor of Arts degree from Boston College, and completed Executive Education coursework at Harvard Business School.
Andy S. Zelleke. Dr. Zelleke has three decades of experience in corporate governance, leadership and management, negotiation and law. He serves as the MBA Class of 1962 Senior Lecturer of Business Administration at Harvard Business School, a role he has held since 2011, after previously serving on the faculty at the Harvard Kennedy School and the Wharton School of the University of Pennsylvania. He was also previously Project Director and Steering Committee Member of the American Academy of Arts and Sciences’ Corporate Responsibility Project, and Co-Director of the Harvard Kennedy School’s Center for Public Leadership. Dr. Zelleke co-edited Restoring Trust in American Business (MIT Press), in addition to authoring articles and cases on corporate governance and international affairs. He is a life member of the Council on Foreign Relations. Early in his career, he practiced corporate law and taught at the UCLA School of Law. He has served on the boards of Cambridge Bancorp and Cambridge Trust since October 2022. Dr. Zelleke received A.B., A.M., J.D. and Ph.D. degrees from Harvard University.
Denis K. Sheahan. Mr. Sheahan serves as Chairman, President and Chief Executive Officer of Cambridge Trust Company and Cambridge Bancorp. Prior to joining Cambridge Trust Company in April 2015, Mr. Sheahan spent 19 years at Independent Bank Corp. and Rockland Trust where he served as Chief Financial Officer and Chief Operating Officer. Prior to joining Rockland Trust Company, Mr. Sheahan served as Vice President of Finance for BayBanks, Inc. Mr. Sheahan currently serves as Board Trustee for the Cambridge Community Foundation, is an Advisory Board Member of the Rian Immigrant Center, and is a Board Member and Treasurer for the Cambridge Family YMCA. Mr. Sheahan also serves as a member of the Board of Directors of the Massachusetts Bankers Association, and is a Board Trustee for the Massachusetts Bankers Association Charitable Foundation, Inc. Mr. Sheahan is a graduate of the Cork Institute of Technology, Cork, Ireland, and received an MBA from Boston University.
On September 19, 2023, Eastern and Cambridge announced they had entered into a definitive agreement to merge and have since received all required shareholder and regulatory approvals. As noted above, the closing is expected on or about July 12, 2024, after which Sheahan, Palandjian, Schmidt and Zelleke will join the Eastern Boards.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. You can identify these statements from the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “future,” “will,” “look forward to,” “would,” “should,” “could,” or “may” or similar expressions. Forward-looking statements, by their nature, are subject to risks and uncertainties. Factors relating to the proposed merger that could cause or contribute to
