Maine Development Foundation names Bangor Savings Bank exec as CEO

Photo / Courtesy of Maine Development Foundation Yellow Light Breen

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The Maine Development Foundation has named a senior executive at Bangor Savings Bank as its next CEO and president, three months after the unexpected resignation of its last leader.

MDF’s board of directors announced Tuesday that Yellow Light Breen will begin as the economic development group’s leader on Aug. 10. Breen has served as executive vice president and chief strategic officer at Bangor Savings for the past 12 years.

“Yellow’s background and interests are a perfect fit for our organization. He brings a plethora of relevant experience and a track record of advancing innovative strategies that help organizations grow and prosper,” Jonathan Edgerton, MDF’s board chairman, said in a statement. "Yellow has been a long-time and valuable supporter of MDF’s programs. His commitments to a number of important education initiatives, along with his work to effectively boost the Maine economy, are noteworthy and align with the mission of our organization.”

MDF won’t be unfamiliar territory for Breen, who has served on the nonprofit’s board and has led an ongoing MDF initiative called “Realize Maine” that helps regional networking groups attract, retain and support young professionals.

“I am thrilled to be joining the Maine Development Foundation, an organization that is so essential to our state’s well-being,” Breen said in a statement. “I am grateful that the Board has put their confidence in me and I look forward to working with the Board, the dedicated, talented staff and all members, partners and stakeholders. MDF’s non-partisan, long-term work to advance the Maine economy by stimulating new ideas, developing leaders, strengthening communities and solving problems has never been more critical.”

The MDF board’s selection of Breen comes after the group’s previous leader, Harold Clossey, resigned unexpectedly in April for health and personal reasons.