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BigE · #1 (**permalink**) 11-24-2009, 02:00 PM

Bay National Corp. (BAYN) announced Hugh W. Mohler is stepping down as chairman of Bay National Bank. But the long-time Baltimore banker will continue as CEO and president of both the Lutherville parent company and the bank. Charles L. Maskell will succeed Mohler as Bay National Corp.’s chairman, the company said in a filing with the Securities and Exchange Commission. Maskell, a certified public accountant and managing member of Chesapeake Corporate Advisors LLC, a Baltimore corporate advisory and management consulting firm joined Bay National’s board in July. The change will allow Mohler to devote more of his time “to accelerate the necessary strategic changes and to guide the Bank through the challenges facing the banking industry,” the company said in a memo to employees which was included in the SEC filing. “I continue to work as president and CEO and I’ll work with Charlie on developing an agenda,” Mohler said in an interview Monday. The company opened up nearly 15% on the news in very light trading.