BUSINESS BRIEFS: Aug. 25, 2022

Aug. 25—Maple Leaf Farms promotes Glass

LEESBURG — Maple Leaf Farms Inc. recently announced the promotion of Lynne Glass to vice president of finance and chief financial officer.

In her new position, Glass will oversee the company's financial management, reporting and compliance, according to a news release.

A Maple Leaf Farms employee since 2000, Glass began her career as assistant corporate controller. In subsequent years, she earned several promotions, most recently serving as director of finance.

During her tenure with the company, she has played an integral role in guiding the department through several business challenges and opportunities.

Glass is a graduate of Indiana University and currently resides in South Bend.

Founded in 1958, Maple Leaf Farms Inc. is North America's leading producer of quality duck products, supplying retail and foodservice markets throughout the world.

For more information, go online to www.mapleleaffarms.com.

Stepp hired as new BBB digital director

FORT WAYNE — BBB Serving Northern Indiana recently announced the hiring of a new director of digital strategy, Steve Stepp.

Stepp joined the BBB team in July, assisting with the BBB's digital presence, as well as helping accredited businesses to grow their digital footprint, according to a news release.

His most recent role was the director of sales for the Journal Gazette. Stepp has worked in the media industry for 16 years, 14 of them at the Journal. He is a former member of the marketing committee for the Home Builder's Association and previously sat on the BBB Board of Directors.

Stepp graduated from Ball State University in 2006 with a degree in advertising and digital media. He is involved with his community, volunteering with the Don Ayres Baseball League and the Homestead High School Spartan League.

BBB is a nonprofit, business-supported organization that sets and upholds high standards for fair and honest business behavior.

For more information, go online to BBB.org.

Northwest Bancshares names new CEO

COLUMBUS, Ohio — Northwest Bancshares Inc. and Northwest Bank recently announced that Louis Torchio has been appointed president and CEO of both companies.

Torchio joined Northwest Bank in 2018, most recently serving as senior executive vice president of retail lending and business banking.

Torchio brings more than 31 years of experience in the banking industry to his new position. Prior to joining Northwest, he held senior leadership and executive committee positions at both large regional and community banks, including the former Charter One Bank, Bank One and Mellon Bank.

At Northwest Bank, Torchio led the transformation and scaling of the residential lending and indirect lending groups, which generated significant fee income and balance sheet growth. Additionally, Torchio launched an initiative to further develop and expand the business banking and Small Business Administration lending divisions.

Torchio is a graduate of Fairmont State University, where he earned degrees in business administration and computer science. In addition, he earned a Master of Business Administration in finance and financial services management from Franklin University.

Northwest Bancshares Inc. is a $14 billion asset financial services company headquartered in Columbus, Ohio, and the parent company of Northwest Bank, a Pennsylvania chartered savings bank headquartered in Warren, Pennsylvania. The bank operates 142 full-service branches across Pennsylvania, New York, Ohio and Indiana.

For more information, go online to northwest.com.

Winnebago approves dividend increase

EDEN PRAIRIE, Minnesota — Winnebago Industries Inc., a leading outdoor lifestyle product manufacturer, recently announced that the company's board of directors approved a quarterly cash dividend of $0.27 per share, payable on Sept. 28, to common stockholders of record at the close of business on Sept. 14.

The dividend declaration represents a 50% — or $0.09 per share — increase from the previous quarter. This increase follows the 50% increase that the company announced in the prior year, according to a news release.

With this announcement, Winnebago Industries has paid a quarterly cash dividend to common stockholders of record for the last 33 quarters.

In addition, the board approved a new share repurchase authorization of up to $350 million of the company's common stock. The share repurchase authorization replaces the previous $200 million share repurchase program that was fully depleted, with $80 million of share repurchase completed in the fourth quarter of fiscal 2022.

The repurchase program has no termination date and does not obligate Winnebago Industries to acquire any number of shares in any specific period, or at all, and may be suspended or discontinued at any time at the company's discretion, the release notes.

To learn more, go online to http://investor.wgo.net.