ST. PAUL, Minn., July 29, 2016 /PRNewswire/ -- Effective Aug. 1, 2016,William J. Thone has been named interim CEO of AgriBank following the departure of Bill York, who left AgriBank as CEO on July 25, 2016.
"Mr. Thone, who retired as vice president and general counsel of AgriBank in 2015, spent nearly 35 years with Farm Credit, supporting rural communities and agriculture most of his career," said Matt Walther, AgriBank board chair. "There is no better candidate to lead AgriBank while we work through the process of hiring the new AgriBank CEO."
Thone began his Farm Credit career at the Farm Credit Bank of St. Louis in 1979, working in the Bank's legal department until he joined AgriBank in 1992 as assistant general counsel.In 1999, Thone was named AgriBank's vice president and general counsel responsible for board secretary duties and governance oversight, as well as corporate legal counsel and management of the Bank's legal team. As vice president and general counsel, Thone was also a member of AgriBank's executive leadership team.
"AgriBank's financial position remains strong – and the focus of our business remains on creating competitive advantages for affiliated Farm Credit Associations, so they can provide the best financial solutions for farmers and ranchers," Walther said. "This strategic direction of the Bank remains unchanged. As a board, our search for the new CEO will focus on the leadership necessary to carry this strategic direction forward."
Barbara Stille, senior vice president and general counsel, has been serving as acting AgriBank CEO until Thone is in place. The AgriBank board plans to initiate the search for the new CEO immediately.
The AgriBank Board of Directors thanks Bill York for leading AgriBank with the utmost integrity for a decade, and wishes him success as he continues pursuing his passion for serving America's farmers and ranchers.
AgriBank is one of the largest banks within the national Farm Credit System, with nearly $100 billion in total assets. Under the Farm Credit System's cooperative structure, AgriBank is primarily owned by 17 affiliated Farm Credit Associations. The AgriBank District covers America's Midwest, a 15-state area stretching from Wyoming to Ohio and Minnesota to Arkansas. With about half of the nation's cropland located in the AgriBank District, and nearly 100 years of experience, the Bank and its Association owners have significant expertise in providing financial products and services for rural communities and agriculture. For more information, please visit www.AgriBank.com.
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