: Community Bank Systems promotes COO to CEO position

Community Bank Systems Inc. CBU on Wednesday named Dimitar A. Karaivanov as its chief executive officer after current CEO Mark E. Tryniski retires at the end of the year. Karaivanov has been chief operating officer of the Syracuse, N.Y., bank since October. He joined the company in 2021 as executive vice president of financial services and corporate development, after working at Lazard Ltd. LAZ. Community Bank Systems stock is down 23% in 2023, compared to a rise of 16.1% by the S&P 500 SPX.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.