Coast Savings President Will Retire

Coast Savings Financial Inc. announced Thursday that Gerald D. Barrone, the company’s president and chief operating officer, will retire effective Dec. 1.

Ray Martin, chairman and chief executive of the Los Angeles company, will assume Barrone’s responsibilities, and no replacement will be sought.

Barrone, 60, will continue as a member of the company’s board.

Coast Savings is the holding company of Coast Federal Bank.