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SSD's board unanimously elected president and COO Michael Olosky to succeed Colonias as CEO, effective Jan. 1.
Olosky will also join SSD's board on Jan. 1.
Colonias will continue as CEO through the end of the year, after which she will remain as an executive advisor to assist with the transition till her retirement on Jun. 30, 2023.
Colonias will continue to serve as a member of SSD's board till its 2023 annual shareholder meeting.