Kaiser Federal Financial Group Inc. late Monday said Chief Executive Kay M. Hoveland would be retiring, effective July 1.

The Covina holding company for Kaiser Federal Bank said that that the board appointed company Chief Financial Officer Dustin Luton to succeed her as chief executive and president. He has been with the company since 2006.

Hoveland, who has been with company for 25 years, also will leave the board when she retires. “With retirement plans of travel and family obligations, I concluded that I will not have time to adequately fulfill the duties of an officer and director in a full and complete manner deserving of this organization as they move forward with the business of running KFFG,” she said in a statement.

Jean Carandang who has been the CFO of the bank since 2009, was named to succeed Luton as holding company CFO.

Shares earlier closed up 1 cent, or less than 1 percent, to $12.26 on the Nasdaq.