MOUNT OLIVE, N.C. (WNCT) Southern BancShares (N.C), has announced the retirement of CEO J. Grey Morgan.
Morgan is the Chief Executive Officer for Southern BancShares (N.C.), Inc. and Southern Bank and Trust Company.
His retirement will be in effect on June 30, 2020.
As the Executive Chairman Morgan will provide institution oversight, leadership for various strategic initiatives and ongoing business development activities.
He will remain on the board of directors of Southern BancShares (N.C.) and Southern Bank and Trust Company.
Drew M. Covert, President will take on the role of Chief Executive Officer for both the holding company and the bank.
Taylor Harrell, Executive Vice President, and Virginia Regional Executive will transition into the role of President for both companies.
“We are very pleased to have Drew succeed as chief executive officer and for Taylor to succeed as President,” Morgan said.
“It has been an honor and truly fulfilling, on both a professional and personal level, to have had the pleasure to work with Grey on a daily basis over the past decade or more,” said Covert.