CLEVELAND, Sept. 19, 2019 /PRNewswire/ -- Today KeyCorp
(NYSE: KEY) announced that Chairman and Chief Executive Officer,
Beth Mooney, will retire on
May 1, 2020.
In anticipation of Mooney's retirement, the Board is announcing
that Chris Gorman has been appointed
President and Chief Operating Officer and a member of the Board of
Directors, effective immediately. Gorman will succeed Mooney
as Chairman and CEO on May 1st. Mooney has served in the role
of Chairman and CEO since May 1, 2011
after joining the bank in 2006.
This announcement is in keeping with the Board's succession
management process and will ensure a seamless leadership
transition.
"On behalf of the entire Board, I'd like to congratulate Chris
on his appointment. We have had the opportunity to work
closely with him and know that he will continue to lead Key with a
focus on growth while maintaining Key's values," said Sandy Cutler, lead independent director of
KeyCorp's Board of Directors.
"We'd also like to thank Beth for her transformational
leadership – from building a strong culture that attracts and
retains talent, to delivering value for our shareholders while
maintaining a client focus, to creating the blueprint in how to
effectively invest in our communities," Cutler continued.
Mooney added: "My time at Key has represented some of the most
rewarding years in my 40 years in banking. I am proud of what
we've accomplished together, and I look forward to continued
success under the leadership of Chris and the diverse and talented
team at KeyBank."
Gorman joined the bank in 1998 as part of Key's acquisition of
McDonald Investments, a registered broker-dealer where he held
several leadership roles. During his time at Key, Gorman has
led KeyBanc Capital Markets and served as President of Key
Corporate Bank. Gorman was also responsible for leading the
integration of First Niagara Financial Group.
In his current role as President of Banking, he is accountable
for the revenue generating businesses across Key, including
Consumer, Commercial, and Institutional Banking.
Forward-Looking Statements
This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words such as
"outlook," "goal," "objective," "plan," "expect," "anticipate,"
"intend," "project," "believe," "estimate" and other words of
similar meaning. Forward-looking statements represent management's
current expectations and forecasts regarding future events. If
underlying assumptions prove to be inaccurate or unknown risks or
uncertainties arise, actual results could vary materially from
these projections or expectations. Factors that could cause Key's
actual results to differ from those described in the
forward-looking statements can be found in KeyCorp's Form 10-K for
the year ended December 31, 2018, as
well as in KeyCorp's subsequent SEC filings, all of which have been
filed with the Securities and Exchange Commission and are available
on Key's website (www.key.com/ir) and on the Securities and
Exchange Commission's website (www.sec.gov). Forward looking
statements speak only as of the date they are made and Key does not
undertake any obligation to update the forward-looking statements
to reflect new information or future events.
About KeyCorp
KeyCorp's roots trace back 190 years to
Albany, New York. Headquartered in
Cleveland, Ohio, Key is one of the
nation's largest bank-based financial services companies, with
assets of approximately $144.5
billion at June 30, 2019.Key provides deposit, lending,
cash management, and investment services to individuals and
businesses in 15 states under the name KeyBank National Association
through a network of over 1,100 branches and more than 1,400 ATMs.
Key also provides a broad range of sophisticated corporate and
investment banking products, such as merger and acquisition advice,
public and private debt and equity, syndications and derivatives to
middle market companies in selected industries throughout
the United States under the
KeyBanc Capital Markets trade name. For more information,
visit https://www.key.com/. KeyBank is Member FDIC.
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SOURCE KeyCorp