WESTFIELD, Mass., Sept. 03, 2020 (GLOBE NEWSWIRE) -- Western New England Bancorp (NasdaqGS: WNEB) is pleased to announce that on March 24, 2020, Lisa G. McMahon of Westfield was elected Chairperson of Western New England Bancorp’s Board of Directors. Western New England Bancorp is the parent company of Westfield Bank, headquartered in Westfield, Massachusetts.
Ms. McMahon’s historic appointment makes her the first female Board Chairperson in the organization’s 167-year history. Ms. McMahon succeeded former Board Chairperson Christos A. Tapases, a longtime and respected WNEB board member and successful business owner who passed away unexpectedly in March 2020.
“While our hearts are still heavy following Chris’ sudden passing, we’re heartened to have a talented, hardworking, and community-focused executive like Lisa leading us into the future,” said Westfield Bank President and CEO James C. Hagan. “These are certainly challenging times and Lisa is without question the right person to meet the unique circumstances we face as an organization and as a community. I am confident that her vision, leadership, and organizational expertise will benefit our customers and the communities we serve exceptionally well.”
While Ms. McMahon’s election in March of this year was a significant milestone, Western New England Bancorp has long sought to ensure gender balance on its Board of Directors. In 2019, Women on Boards, a leading global education and advocacy campaign driving the movement toward gender balance on corporate boards, recognized Western New England Bancorp as a “W” for “Winning” company for its commitment to gender equity. Women on Boards tracks, analyzes, and reports on the progress of women on Russell 3000 company boards. To be recognized, a company’s board must be comprised of at least 20% women. In 2019, just 20.4% of companies on the Russell 3000 had at least 20% women board members. Thirty percent of Western New England Bancorp’s current board members are women.
A WNEB board member since 2014, Ms. McMahon is currently the Director of Institutional Advancement and Stewardship at Westfield State University. Prior to joining Westfield State University, she was employed by Merrill Lynch where she obtained both her general securities license and license to become a registered investment advisor representative.
Ms. McMahon currently serves as president of the Westfield Academy Foundation as well as past president and current member of the executive board of the Genesis Center, a division of the Sisters of Providence Health Systems. From 2007-2012, Ms. McMahon was executive director of the Westfield Business Improvement District, Inc. and a member of the Western Mass Economic Development Council Team, where she worked closely with micro businesses, small businesses as well as state and local government.