Live Oak Bancshares appointed David Salyers to its board of directors effective Oct. 3, the company announced in a statement Monday.

Salyers spent 37 years at Chick-fil-A, Inc. and was one of two original marketing executives at the company when he retired in 2018.

“David understands how to build an exceptionally strong business culture, develop thoughtful leaders, and empower entrepreneurialism at a massive scale. His insight and experience will be a valuable asset to our board,” said Live Oak CEO James Mahan.

Live Oak Bancshares is a financial holding company, specializing in originating business loans. It conducts business operations primarily through its commercial bank subsidiary, Live Oak Bank.

Live Oak Bancshares, Inc. traded at $17.27 on Tuesday, down 33 cents.