Michael P. Daly served as the CEO of Berkshire Hills Bancorp, Inc. from December 2016 until his resignation in November 2018. During his time at the helm, he oversaw significant changes at the company. Notably, his resignation included a separation...
Michael P. Daly served as the CEO of Berkshire Hills Bancorp, Inc. from December 2016 until his resignation in November 2018. During his time at the helm, he oversaw significant changes at the company. Notably, his resignation included a separation agreement that guaranteed him $7.5 million in severance payments, reflecting the high-stakes environment of executive management. Prior to his departure, Daly's 2018 compensation totaled approximately $1.18 million, highlighting the financial rewards for leadership roles in the banking sector. His exit strategy included multiple payments over time, signaling the importance of structured agreements in corporate leadership. Under his leadership, significant performance metrics were established, focusing on long-term growth and value for shareholders. The company positioned itself for future success by attracting talent and managing risks effectively. After Daly’s departure, Richard M. Marotta took over as CEO, continuing the company's trajectory amidst evolving market demands. Daly's tenure, marked by strategic decisions and notable severance terms, illustrates the complexities of modern corporate leadership in the banking industry.