Corrections Corp. of America Chairman and former CEO John Ferguson has told the company he'll retire from the board in the spring of next year. Ferguson has chaired the board of the prison management company since mid-2008, 15 months before he stepped down as CEO. Said current CEO Damon Hininger: "John was instrumental in the financial restructuring of the company and put CCA on a path of meaningful growth by investing in new capacity and solutions to meet the ever-changing needs of our government partners. John's leadership as chairman of the Board has served to further build on his immeasurable contributions to CCA and we congratulate him on his well-earned retirement."
First Farmers & Merchants Corp. board member Kim Vella has told the company she will not stand for re-election this spring. Vella, a former chief people officer of Tractor Supply, had been on the board since 2012. In a filing with regulators, First Farmers said her decision to stand down is for personal reasons and doesn't reflect any issues with the bank.
Peter Scully, a former leader of Private Business, is in the process of relocating to Nashville an Atlanta company that has built a platform to handle sales of stock in community banks not listed on a stock exchange. Milt Capps at Venture Nashville reports that Scully took over at Community Bank List — the company's brand will soon migrate to BancList — about a year ago and is planning to raise $1 million in capital as he seeks to grow the company's bank customer list more than fourfold this year.
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