A longtime executive at HTLF was removed as executive operating chairman of the company’s board Tuesday night after he and a group of shareholders called for a “better steward” for the organization. Officials at HTLF announced that Lynn B. Fuller had been removed as executive operating chairman of the Board of Directors, effective immediately. The announcement came one week after 13 shareholders that control a total of 6.1% of common stock in HTLF sent a letter to the board echoing concerns cited by Fuller when he announced last month his plans to retire. The group includes Fuller, a member of HTLF’s Board of Directors and board chairs at some of HTLF’s banks. On Tuesday night, HTLF announced the appointment of John Schmidt, who has been on the board since 2001, as independent chairman of the board, replacing Fuller.
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