The board of directors of Oxford Bank Corporation, the holding company for Oxford Bank, simultaneously announced today the retirement of Randall G. Fox as chairman of both the Corporation and the Bank and the appointment of Jeffrey M. Davidson as his replacement.
Mr. Fox will remain an active member of both board of directors, serving as their vice chairman.
Mr. Davidson will retain his current positions as president and chief executive officer of both Oxford Bank Corporation and Oxford Bank. These moves were made effective March 27.
‘This move completes a management transition plan first initiated by our board of directors in 2003 with Jeff’s appointment to president and CEO of Oxford Bank,? Fox said.
‘Jeff is an outstanding community banker and leader. I have enjoyed watching his progression since hiring him more than 21 years ago. He embodies the spirit and tradition of Oxford Bank and possesses the business acumen to deftly face the challenges that lay ahead . . . I congratulate him on this ‘next step? in his career; an appointment well-deserved.?
Fox went on to say, ‘I look forward to remaining an active member of the Oxford Bank family.?
‘I am truly honored by this appointment,? Davidson said. ‘And, I am humbled by the confidence that Mr. Fox, the board of directors, our officers, our managers and our employees continue to have in me. While I am respectful of the challenges that lay ahead, I am excited about the potential of our franchise.?
‘I would like to sincerely thank Mr. Fox for the past 23 years of dedicated service to Oxford Bank. Under no other leader in its 123-year history has Oxford Bank witnessed such extraordinary growth. He has been, and remains, a valuable asset to all associated with our organization, as well as the entire Michigan banking community,? Davidson added.
Fox, who lives in Oxford Village joined Oxford Bank in May of 1984 as only the 10th president in the organizations, then, 100-year history. He replaced Robert P. Dick as chief executive officer in 1986 and as chairman in 1987.
Fox, also, became the first chairman, president, and chief executive officer of Oxford Bank Corporation upon its formation on August 1, 1988.
Davidson began his 21-year career with Oxford Bank in September 1985 as an assistant vice president with responsibility for branch administration.
He became the 11th president and seventh CEO in Oxford Bank’s 123-year history in December 2003, and was appointed as the president and CEO of Oxford Bank Corporation in March of 2006.
Born and raised in Oxford, Davidson and his family are current residents of Metamora.