First Business Financial Services Inc. (Nasdaq: FBIZ) announced Monday that CEO Corey A. Chambas will retire on May 2, 2026, with President and Chief Operating Officer David R. Seiler set to succeed him.

Chambas, who joined the company in 1993 and became CEO in 2006, will remain on the boards of First Business Financial Services and First Business Bank following his retirement.

“Corey’s commitment to First Business Bank’s founding mission helped establish a culture that differentiates the bank for our employees, clients, communities, and shareholders,” said Jerry Kilcoyne, chairman of the board. “I am very pleased that we can continue to rely on his expertise over the next year.”

Seiler, who has served as president and COO since January 2023, joined the bank in 2016 after holding leadership roles at several Midwestern banking firms. He earned both his bachelor’s and master’s degrees from the University of Wisconsin–Madison.

“I’m honored to step into Corey’s role and look forward to a smooth transition,” Seiler said. “I will strive to protect and strengthen the culture that is foundational to our success.”