Regions CEO to retire - WTVM.com-Columbus, GA News Weather & Sports

Regions CEO to retire

Dowd Ritter to retire in March 2010 Dowd Ritter to retire in March 2010
Grayson Hall to Succeed Dowd Ritter as Chief Executive Officer Grayson Hall to Succeed Dowd Ritter as Chief Executive Officer

BIRMINGHAM, AL - (BUSINESS WIRE)-- The Regions Financial Corporation (NYSE:RF) Board of Directors today elected Grayson Hall to serve as chief executive officer of the company upon the retirement of Dowd Ritter as chief executive officer effective March 31, 2010.

Hall is currently Regions' president and chief operating officer. Hall will retain the title of president and will continue to serve on the Board of Directors upon Ritter's retirement.
The Board also elected lead director Earnest W. Deavenport Jr. as non-executive chairman effective March 31, 2010.

"Regions is performing well despite the economic downturn both in terms of record new accounts and all-time high customer satisfaction," said Ritter, 62. "With our associates performing at a high level and signs that the economy has begun to improve, I thought it was an appropriate time to retire.

Grayson has played a key role in our reaching that level of performance, and under his leadership it is well-positioned to continue to grow," Ritter said.

Deavenport said, "This is a part of our Board's succession planning. We thank Dowd for his years of service and his immeasurable commitment to the company."

Hall said, "Dowd Ritter has demonstrated remarkable leadership over his 40-year career at this company, and I'm personally grateful for the many opportunities he has given me over the years.

It is mainly through his vision and exceptional leadership that our company has grown from a small regional bank to one of the largest financial services companies in the country.

He has steered the company through a tremendously difficult environment, and his commitment to the development of the individual and his passionate support of our associates has been unmatched."

Source: www.regions.com

Powered by Frankly