Citizens Community Bancorp’s board has decided not to add a director seat in response to a stockholder nomination. The decision keeps the board at eight members for now; the announcement does not identify the nominating stockholder or nominee.
- The board made the decision on Oct. 22, following a recommendation from its Governance and Nomination Committee.
- Directors said they were acting in the interests of all stockholders.
- The announcement does not say whether the nominee may seek election to an existing board seat or describe any further steps in the nomination process.
What changes: The board will remain at eight directors for now. The announcement does not indicate a change in control, management or the company’s broader strategy.