Gulotty leaves Wilber Corp.

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August 7, 2010

Gulotty leaves Wilber Corp.

Mark Boshnack Staff Writer The Daily Star Sun Aug 08, 2010, 09:44 AM EDT

Douglas C. Gulotty left his office as president, chief executive officer and director of The Wilber Corp. and its wholly-owned subsidiary Wilber National Bank, effective Monday, a media release from the organization's board of directors said Friday.

The Wilber Bank has 22 branches in Otsego, Delaware and six other counties, according to the release.

Until a permanent appointment can be made, Executive Vice President Joseph E. Sutaris will handle Gulotty's duties for the company and bank, the release said.

Gulotty, 47, did not return a call to his home for comment. He has been employed by Wilber since 1985 and holds his former position since 2006. His total annual salary with Wilber Corp. in 2009 was $280,000, according to a profile at Forbes.com.

He is active in a number of community organizations, ranging from serving as president of the Otsego County Development Corp. to being a member of the Schenevus Central School Board.

Sutaris returned a call for comment but said he could add nothing beyond what was in the release about why Gulotty left. He had no comment when asked if Gulotty's departure had anything to do with Wilber's second-quarter income decline of 30 percent, which was announced Monday.

Instead, Sutaris, who has been with Wilber since 1995, noted that the corporation's 2010 six-month earnings were better than in 2009. The bank has just declared the 110th consecutive quarterly dividend as well, Sutaris said.

It is "a tough situation" for Gulotty, Sutaris said, calling the former CEO "a friend and colleague of mine for 16 years. I have learned a lot from him."

Wilber board Chairman Brian R. Wright said in release that "We are left with a very committed management team, policies, and procedures all designed and constructed with Doug's dedicated view of community banking. As a result we fully expect that Wilber will move seamlessly into a new phase of business operations. Doug will be missed, and we wish him nothing but the best as he moves forward."

State Sen. James Seward, R-Milford, has been on Wilber's board of directors since 1988.

"Doug is going to be greatly missed, both personally and professionally," he said. "Whatever new endeavor he is involved in, I certainly hope he can stay active in the community."

Otsego County Chamber President and Chief Executive Officer Rob Robinson said Gulotty's departure will be "a loss."

Robinson praised Gulotty's involvement in the community and his ability to "get things moving."

"He has been a personal friend" and has served on the chamber board and committees during most of the 15 years that Robinson has been in the community, he said. "I have nothing but praise for Doug."