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Last updated on Sunday, July 1, 2018
(JASPER) - German American Bancorp, Inc. (NASDAQ:GABC) today announced that Zachary W. Bawel has been appointed to its Board of Directors, effective July 1, 2018. Mr. Bawel has also been appointed to the Compensation Committee of the Board of Directors, and to the board of directors of the Company’s bank subsidiary, German American Bank.
Bawel, who holds a bachelor's degree in finance from Indiana University School of Business, is President & COO of Jasper Engines & Transmissions, a 100% Associate-Owned, 75 year-old Jasper, Indiana based company with over 3,000 employees nationwide. He has over 30 years of sales, distribution and management experience with the company, having served as President since 2011.
Bawel currently also serves on the executive committee and on the board of directors of Jasper Engines and is a member of the advisory board of WireCrafters LLC, the nation's leading manufacturer of woven and welded wire partitions and other related material handling products.
U. Butch Klem, Lead Director and Chair of the Governance/Nominating Committee of the German American Board of Directors, commented on the appointment, "Our entire Board of Directors is pleased to add someone of Zach's caliber and experience to our Board. We strive to fill our Board with independent, outside members, who operate successful businesses within our market area and who are exceedingly knowledgeable about and well-connected within their industry and their local community. Zach meets and exceeds all of these qualifications. We welcome Zach to the Corporate Board of Directors and are looking forward to his contribution to our Board's ongoing effort to maximize shareholder value."
In making the announcement, Mark A. Schroeder, Chairman & CEO, stated, "German American has been fortunate to have had the benefit of Zach's counsel as a regional advisory board member for the past five years. Therefore, in addition to his strong business acumen, Zach also comes to our Corporate Board with a solid base of understanding of the banking industry and German American's unique customer-centric, community-focused business model and culture. We expect the value of his counsel will only be enhanced in his new capacity as a Corporate Board member."
Bawel stated, "As German American has expanded its footprint throughout Southern Indiana over the course of the past 25 years, and, as previously announced, with planned expansion into South Central and Western, Kentucky, they have earned a reputation as a relationship-oriented, community-based financial institution with the size and sophistication to serve both businesses and consumers. German American has a proven business model and strategy focused on taking care of clients, which has greatly enhanced shareholder value. I look forward to continuing to serve the Company's shareholders, clients, and local communities as a Corporate Board member."
Bawel has served since July 2013 on German American's regional advisory board for the Dubois, Perry, and Spencer County markets.
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