Regions Financial Corporation (NYSE:RF) today announced that John
Roberts will retire from the Board of Directors effective April 23,
2014, having reached the Board’s mandatory retirement age of 72.
Roberts has served as a director since 2001. He is a member of both the
Audit Committee and the Nominating and Corporate Governance Committee
and previously chaired the Audit Committee. Roberts retired from Arthur
Andersen LLP in 1998 after a 35-year career, most recently having served
as managing partner – MidSouth Region from 1993 to 1998.
“I want to personally extend my heartfelt gratitude to John for his more
than 13 years of diligent service as a member of our Board of
Directors,” said Grayson Hall, chairman, president and CEO. “All of us
at Regions are immensely grateful for his many contributions and are
confident that our company has benefitted from his wisdom, energetic
commitment and unfailing integrity.”
Regions’ directors are elected at the annual meeting of stockholders
each year. The Board of Directors currently has 14 members. Under the
Company’s Corporate Governance Principles, each director is required to
retire on the eve of the next annual stockholders’ meeting of the
Company following his or her 72nd birthday. The Board has determined
that following the annual meeting of stockholders, the Board will
consist of 13 members, to be elected for a term of one year expiring at
the 2015 annual meeting.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $117 billion in assets, is
a member of the S&P 500 Index and is one of the nation’s largest
full-service providers of consumer and commercial banking, wealth
management, mortgage, and insurance products and services. Regions
serves customers in 16 states across the South, Midwest and Texas, and
through its subsidiary, Regions Bank, operates approximately 1,700
banking offices and 2,000 ATMs. Additional information about Regions and
its full line of products and services can be found at www.regions.com.
Copyright Business Wire 2014