TCF Financial Corporation has announced that Craig Dahl, vice chairman, and president of the company, will be appointed as CEO, effective January 1, 2016, according to a press release issued by TCF.
Dahl will be succeeding William Cooper, the current CEO of TCF, who will be retiring from his post.
Twin Cities Business added that Cooper, who became CEO of TCF in 1985, when the company was still known as Twin City Federal, will be retiring from his post for the second time.
He first retired in 2005 but came back after three years to manage the company during the Great Recession.
Twin Cities Business adds that Cooper was instrumental in attracting thousands of new customers to the bank with his "Totally Free Checking" accounts.
He was also the one who guided TCF during its initial public offering.
Dahl said in the press release that he was fortunate to work with Cooper and learn from him during his 16 years in the bank.
"Over the past several years, we have built a superior management team and made great progress in positioning TCF for the new banking environment," he said. "I look forward to leading this talented and experienced group and building on past successes by executing our strategic plan and maximizing shareholder value going forward."
Cooper said in the press release that Dahl is the ideal choice due to the "leadership and success" that he has demonstrated while working in TCF and "his vast experience in the banking industry."
"He has been a vital part of TCF's successes during his tenure, especially the transformation of the company that has taken place over the past several years," Cooper said.
Dahl joined TCF in 1999 and was named as the president and CEO of TCF Equipment Finance, Inc., according to the press release.
He started serving as TCF's vice chairman in 2012 and was promoted to president in 2015.
Cooper will remain as chairman of the company through 2017, according to the press release.
