LAFAYETTE, La. (The Daily Advertiser) – MidSouth Bancorp Inc., which has its headquarters in Lafayette, has terminated its top two executives, according to multiple media reports.
Rusty Cloutier’s employment as president and CEO of the corporation and his son Troy Cloutier’s employment as president and CEO of MidSouth Bank, was reported Thursday morning by ktdy.com.
The decision was part of a transition plan already underway to improve the performance of the company, MidSouth said in a statement.
Current Chief Financial Officer Jim McLemore has been appointed interim President and CEO of both the bank and the holding company. The company says he will retain those duties at this time.
The leadership changes are effective immediately.
Jake Delhomme, Chairman of the Board of Directors of MidSouth Bancorp, Inc. said in a news release: “The Board of Directors is fully supportive of Mr. McLemore in his immediate endeavors as President and CEO.”