Eastern Bankshares, Inc. has announced a leadership transition for its Board of Directors. The company disclosed in an 8-K filing that Peter K. Markell has been unanimously elected as Lead Independent Director, effective January 1, 2027. He will succeed Deborah C. Jackson, who is stepping down from the role on the same date as she plans to retire from the Board at the end of 2027.
Mr. Markell has been a member of the Board since 2006 and currently chairs the Audit Committee. He also serves on the Risk Management Committee and the Compensation and Human Capital Management Committee. The Board’s Nominating and Governance Committee recommended Mr. Markell for the position, and he was elected by the independent directors in accordance with the company’s Corporate Governance Guidelines.
In addition to the leadership transition, Eastern Bankshares reported the retirement of Chair Emeritus Richard E. Holbrook and the resignation of Director Luis A. Borgen, both effective December 31, 2026. Mr. Holbrook is retiring in accordance with the mandatory age limitations for directors set forth in the company’s guidelines. Mr. Borgen is resigning to devote more time to his personal and professional commitments. Neither executive is leaving the Board due to disagreements with the company regarding its operations or policies.
Eastern Bankshares, Inc. is the holding company for Eastern Bank, which was founded in 1818. As of September 30, 2026, the company reported approximately $31.7 billion in assets.
