Wilmington Trust CEO stepping down

Wilmington Trust Corp. said chairman and chief executive Ted T. Cecala, 61, is retiring after a 31-year career at the company.

His successor as CEO, effective immediately, is board member Donald E. Foley, 58, who was senior vice president and treasurer of ITT Corp.

Cecala will remain chairman until July 19. The company said the board will select a new chairman.    - Harold Brubaker