People's United CEO Jack Barnes (left) alongside former board Chairman George Carter (right)

One week after acquiring Farmington Bank, Jack Barnes, CEO of People’s United Bank and its parent company, has a new title.

The company announced earlier this week that Barnes would become chairman of the board of both the bank and its parent company, while remaining CEO of both entities as well.

Concurrently, the independent members of the board of directors unanimously agreed to appoint George Carter, the current chairman of the board for both companies, as lead director. Carter has served on People’s United’s board for 42 years. The company said the new appointments of Barnes and Carter are part of a long-term strategic board succession plan.

“Jack is uniquely qualified to take on this important role for People’s United,” Carter said in a statement. “His demonstrated ability to successfully lead the bank over the past eight years, combined with his leadership qualities and knowledge of the business, make him the perfect choice to lead the board going forward. The board of directors unanimously supported Jack’s appointment to chairman.”

Barnes became president and CEO of People’s United and was also appointed to the board in 2010. He came to the company after a 25-year career at Chittenden Corp., which was acquired in 2008 by People’s United.

Since becoming CEO, Barnes has helped with several bank acquisitions including Suffolk Bancorp, Danvers Bancorp and Smithtown Bancorp.