By Connor Hart
First Busey named Scott Phillips as its interim chief financial officer, succeeding Jeffrey Jones who has left the company.
Phillips has more than 20 years of professional experience, the Champaign, Ill., financial holding company said Friday. He most recently served as First Busey's corporate controller and principal accounting officer, overseeing the company's accounting department and policies, income taxes and regulatory reporting.
He will continue in these roles while serving as interim CFO. The company didn't say how long he will hold the position, or whether it is searching for a permanent replacement.
Jones, under his separation agreement, will receive severance of about $1 million, representing one year of his base salary, plus a 2024 bonus. He is additionally entitled to a pro-rated 2025 bonus, one year of health insurance coverage and about $638,000 in cash, equal to the value of owned stock that was scheduled to vest this year, according to a filing with the Securities and Exchange Commission.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 21, 2025 18:20 ET (23:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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