Bill Rogers to succeed Kelly King as Truist board chair
Truist Financial Corporation (NYSE: TFC) announced leadership transitions effective March 12, 2022.
Sentiment and the balance of points
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Rhea-AI Summary
Truist Financial Corporation (NYSE: TFC) announced leadership transitions effective March 12, 2022. William H. "Bill" Rogers Jr. will become chairman of the board, succeeding Kelly S. King, while Thomas E. Skains will take over as lead independent director, succeeding David M. Ratcliffe. Rogers has been CEO since September 2021 and previously served as chairman and CEO of SunTrust Banks. Skains has been on Truist's board since June 2009 and is a retired CEO of Piedmont Natural Gas. Truist, formed from the merger of BB&T and SunTrust, has total assets of $541 billion as of December 31, 2021.
Positive
- Leadership transition shows stable succession planning.
- Rogers brings experience as former CEO of SunTrust Banks.
- Skains has a strong board presence since 2009.
Negative
- None.
Details
News Market Reaction – TFC
The recorded move for TFC in the trading session of this news was +1.10%.
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CHARLOTTE, N.C., March 8, 2022 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced that as part of a planned transition, William H. "Bill" Rogers Jr., Truist's chief executive officer, will become chairman of the board and Thomas E. Skains will become lead independent director. Both appointments are effective March 12, 2022. Rogers succeeds Kelly S. King, who will be stepping down from the role of chairman as previously announced. Skains succeeds David M. Ratcliffe. Both King and Ratcliffe will remain on the board.
Rogers has served as CEO of Truist since September 2021, when he transitioned from the role of president and chief operating officer. From 2012 to 2019, until the close of the merger of equals forming Truist, Rogers served as chairman and CEO of SunTrust Banks, Inc. Skains is the retired CEO of Piedmont Natural Gas Company Inc. and has been a valued member of the board since June 2009. He also is a member of the boards of directors of Duke Energy Corporation and National Fuel Gas Company.
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of
View original content:https://www.prnewswire.com/news-releases/bill-rogers-to-succeed-kelly-king-as-truist-board-chair-301497311.html
SOURCE Truist Financial Corporation
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