Regions Financial Corp. (NYSE:RF) on Wednesday announced that its board of directors has appointed Charles D. McCrary to serve as the chair of the board, effective January 1.
McCrary, currently Regions’ lead independent director, will succeed Executive Chairman O. B. Grayson Hall, Jr., who is retiring from the corporation and from the board on December 31. McCrary will also serve as the chair of the board of directors of Regions Bank.
In a press release, Regions President and CEO John Turner thanked Hall for his distinguished service and praised McCrary as “a thoughtful and dedicated leader.”
“During his 38-year career with the company, Grayson has maintained a steady focus on meeting customer needs, and through his leadership, Regions has become a stronger and better bank positioned for long-term success,” Turner said. “We appreciate his significant contributions and wish him continued success as he retires.”
He continued, “Charles is a thoughtful and dedicated leader. In his capacity as Lead Independent Director, he has provided valuable guidance that has allowed Regions to deliver sustainable, long-term growth. I look forward to continuing to work with Charles as we execute on Regions’ strategic plan and elevate our performance as a company.”
Hall joined Turner in hailing McCrary.
“I join John in congratulating Charles on his appointment,” Hall remarked. “I have had the privilege of working closely with Charles for many years, and our company has benefited from his personal integrity and commitment to excellence. I am excited about the future of Regions, and Charles is an outstanding choice to lead the board.”
McCrary, a constant fixture on Yellowhammer Multimedia’s Power and Influence List during his longtime tenure leading the Alabama Power Company, said he was “humbled by the opportunity.”
“Regions plays an important role in meeting the financial needs of our customers and communities. We believe that maintaining strong corporate governance is crucial to achieving our company’s mission and making life better for all of our stakeholders,” McCrary outlined.
He added, “I am humbled by the opportunity to continue to serve with such an outstanding group of board members and management.”
From 2001 through February 2014, McCrary served as the president and CEO of Alabama Power. He also served as chairman of Alabama Power until May 2014. McCrary’s career spanned over 40 years, where he held various positions of increased responsibility within Alabama Power and its parent company, Southern Company.
McCrary also previously served on the board of directors of AmSouth Bancorporation, a predecessor to Regions, from 2001 to 2006. He served as chair of the Nominating and Corporate Governance Committee and on the Audit Committee of Regions Corp. in the past.
McCrary holds an engineering degree from Auburn University – where he serves on the Board of Trustees – and a law degree from Birmingham School of Law.
Additionally, Regions announced on Wednesday that Zhanna Golodryga has been appointed as an independent director to its board, maintaining its composition of 15 members with Hall’s departure. Golodryga will serve on the Compensation and Human Resources Committee and the Risk Committee of the board.
Golodryga is senior vice president as well as chief digital and administrative officer for Phillips 66. Before joining Phillips 66 in April 2017, Golodryga served as chief information officer and senior vice president of services at Hess Corporation.
Sean Ross is a staff writer for Yellowhammer News. You can follow him on Twitter @sean_yhn
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