WILMINGTON, Del., Aug. 03, 2017 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (NASDAQ:WSFS), the parent company
of WSFS Bank, today announced that the Board of Directors has elected Mark A. Turner as Chairman of the Board. This announcement
follows Marvin (Skip) N. Schoenhals’ decision to step aside as Chairman of the Board of Directors of WSFS Financial Corporation and
WSFS Bank, after 25 years in those positions. Mr. Schoenhals will continue to serve as a member of the Board of Directors.
Mr. Turner will assume the role of Chairman in addition to his current responsibilities as President and Chief
Executive Officer. He has been President, Chief Executive Officer and a Director of WSFS Financial Corporation and WSFS Bank since
2007. Mr. Turner previously also served as the Chief Operating Officer and the Chief Financial Officer of WSFS.
Mr. Schoenhals said, “On behalf of the Board, we congratulate Mark on his new role as Chairman. Mark’s election
aligns with the board renewal process that began in 2011, to consistently refresh and rotate the Board, its committees and
leadership with new talent and perspectives. Mark’s strategic vision and leadership of the Company through some incredibly
challenging times and through a period of highly disciplined growth has been instrumental in the strong performance of WSFS in
recent years. Under his leadership the Board’s commitment to long-term, sustainable high-performance will continue as we serve
our constituents for generations to come.”
As part of WSFS’ ongoing commitment to sound corporate governance, Eleuthère I. du Pont, President of the
Longwood Foundation, will continue to serve in his role as Lead Independent Director of the Board.
WSFS also announced that Rodger Levenson has been promoted to Executive Vice President and Chief Operating
Officer. Mr. Levenson joined WSFS in November 2006 as Executive Vice President of Commercial Banking. He served as Chief Commercial
Banking Officer through April 2015 at which time he assumed the role of interim Chief Financial Officer until June 2016. Most
recently, Mr. Levenson served as Chief Corporate Development Officer, leading cross-functional teams to evaluate, negotiate and
integrate mergers, acquisitions, divestitures and large capital transactions. In his role as Chief Operating Officer, Mr. Levenson
will oversee the Executive Leadership Team, with oversight responsibilities for Commercial, Retail, Wealth and Cash Connect as well
as support service areas including Operations/Information Technology, Risk, Human Capital and Finance.
Mr. Turner said, “As we enhance our efforts in talent growth, leadership development and succession planning, we make our
organization stronger and more resilient, as well as prepare ourselves for the next generation. We congratulate Rodger on his
promotion to Chief Operating Officer. His innate talent, drive and diverse leadership experiences position him well for this role.
I look forward to working with him to lead the future growth of our Company. We would also like to thank Skip for his truly
profound and lasting positive impact on our Company. We greatly value his continued tenure on our Board.”
Mr. Levenson received a BBA in Finance from Temple University and a MBA from Drexel University. He has also
participated in leadership and management courses at the University of Pennsylvania Wharton School, Center for Creative Leadership,
and Harvard University School of Business. An active member of the community, Mr. Levenson currently is a member of the Board of
Directors for the United Way of Delaware and was previously Chair of the Finance Committee. He is also on the board of Wilmington
Housing Partnership. Mr. Levenson is the immediate past Chairman of the Delaware Bankers Association and served on its Board since
2011. He is a Delaware Valley native and he resides in Greenville, Delaware with his wife and their two children.
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest
and largest locally-managed bank and trust company headquartered in Delaware and the Delaware Valley. As of June 30, 2017, WSFS
Financial Corporation had $6.82 billion in assets on its balance sheet and $17.40 billion in assets under management and
administration. WSFS operates from 76 offices located in Delaware (45), Pennsylvania (29), Virginia (1) and Nevada (1) and provides
comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management.
Other subsidiaries or divisions include Christiana Trust, WSFS Wealth Investments, Cypress Capital Management, LLC, West Capital
Management, Powdermill Financial Solutions, Cash Connect®, WSFS Mortgage and Arrow Land Transfer. Serving the Delaware Valley since
1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more
information, please visit wsfsbank.com.
Investor Relations Contact: Dominic Canuso (302) 571-6833 dcanuso@wsfsbank.com Media Contact: Cortney Klein (302) 571-5253 cklein@wsfsbank.com
