Codorus Valley Bancorp, Inc. announced that it will appoint three new independent directors to its Board of Directors. The first new director, John E. Kiernan, Esq., was appointed by the Board at its April 12, 2022 meeting. Mr. Kiernan was selected from Driver's proposed nominees previously submitted for consideration. Mr. Kiernan has been appointed to the Corporate Governance and Nominating Committee, the Audit Committee, and the Compensation Committee of the Board. The second new director will be chosen solely by the Board, and will be appointed no later than the end of second quarter of 2022. The Board and Driver together will identify a third new director
with substantial public company board experience from the banking sector. Immediately following the appointment to the Board, the third new director will be appointed to the Board's Enterprise Risk Management Committee, which is mandated with ongoing enterprise-wide risk oversight and management, including reviewing all material risks, such as credit risk. The third new director also will be appointed no later than second quarter of 2022. Upon completion of these additions, the size of the Board will not exceed eleven directors.