Gary R. Magnuson, Executive Vice President at Citizens Bank, was elected chairman of Associated Industries of Massachusetts (AIM), at the association’s 2012 annual meeting and luncheon Friday at the Waltham Westin Hotel. Several hundred AIM members and their guests from across the state attended the event.

Established in 1915, AIM is the largest nonprofit, nonpartisan employer association in the state. AIM members range from Fortune 500 firms to sole proprietorships, and employ more than 560,000 Bay State residents. AIM’s mission is to promote the wellbeing of its members and their employees by working to improve the economic climate of the commonwealth, proactively advocating fair and equitable public policy, and providing relevant, reliable information and excellent services.

A resident of Duxbury, Magnuson earned his undergraduate degree from the University of Delaware and his MBA from Boston University. Active in the community, he serves as a member of the Duxbury School Committee, and has previously been a director of the YMCA of Greater Boston and the New England Business Development Corporation.

Richard Lord, AIM’s President and Chief Executive Officer said, “We are delighted that Gary has agreed to serve as chair of AIM after serving on the board of AIM since 2005 and as treasurer of the association for the past three years. As a banker, Gary fully understands the importance and challenges of maintaining and improving the state’s economic climate in order to ensure that new investments continue to be made in the region’s economy. I look forward to working closely with him during the period ahead.”