PeoplesBank President and CEO Douglas A. Bowen will retire in July 2016 and Thomas W. Senecal will be appointed executive vice president and chief operating officer, the PeoplesBank board of directors recently announced.

Bowen has worked at PeoplesBank since 1975, beginning as a teller in the management development program, and has since worked in almost every department. In 1986, he started the commercial lending department and was named a “Globe 100 Innovator” in 2011 by The Boston Globe.

The board also announced its succession plan, which calls for Senecal to become president and Bowen to become chairman and CEO at the bank’s annual meeting in February 2016. Senecal will be named president and CEO when Bowen retires. During the transition, Bowen will remain active in his position and the bank’s management and strategy implementation.

Senecal, who is currently executive vice president and chief financial officer at PeoplesBank, has over 25 years of progressive financial experience. In his current position, he manages all accounting, financial reporting, and treasury and facility operations.