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4-Traders Homepage  >  Equities  >  Nyse  >  SunTrust Banks, Inc.    STI

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SunTrust Banks, Inc. : April 02, 2012 SunTrust Announces J. Hicks Lanier and Dr. Frank S. Royal to Retire from Board of Directors, Donna Morea Nominated for Election

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04/02/2012 | 06:56pm CEST

ATLANTA, April 2, 2012 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) announced today that J. Hicks Lanierand Dr. Frank S. Royalwill retire from the company's Board of Directors this year.  In addition, the Company announced that Donna Moreahas been nominated to stand for election at the Annual Meeting of Shareholders in April.

Mr. Lanier and Dr. Royal have reached retirement age for directors.  Both will serve as directors through the 2012 annual meeting but will not stand for re-election to the Board.

"Hicks Lanier and Dr. Frank Royalhave served SunTrust with distinction over their tenure as directors," said William H. Rogers, Jr., SunTrust Chairman and Chief Executive Officer.  "We greatly appreciate their experience and commitment to our shareholders and clients.  We also look forward to the prospect of welcoming Donna Moreato our Board, and benefiting from her significant technology industry experience and perspective."

Mr. Lanier has been a director since 2003.  Since 1981 he has served as Chairman of the Board and Chief Executive Officer of Oxford Industries, Inc., an Atlanta-based company that designs, manufactures, markets and sells consumer apparel products. 

Dr. Royal has served as a director since 1998.  A practicing physician since 1969, Dr. Royal is President of Frank S. Royal, M.D., P.C. in Richmond, Va., and has served on a number of corporate, educational and professional organizations' boards of directors.

Ms. Morea, 57, is a nationally recognized executive in IT professional service management.  From 2004 until her retirement at the end of 2011, she served as President of CGI Technology and Solutions, Inc., a wholly-owned U.S. subsidiary of CGI Group, one of the largest independent information technology firms in North America.  She now serves on CGI Group's board of directors.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients.  As of December 31, 2011, SunTrust had total assets of $176.9 billionand total deposits of $127.9 billion.  The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels.  The Company also serves clients in selected markets nationally.  Its primary businesses include deposit, credit, trust and investment services.  Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.

SOURCE SunTrust Banks, Inc.

Mike McCoy, +1-404-588-7230

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This press release was issued by SunTrust Banks Inc. and was initially posted at http://phx.corporate-ir.net/phoenix.zhtml?c=82273&p=irol-newsArticle&ID=1679193&highlight= . It was distributed, unedited and unaltered, by noodls on 2012-04-02 18:41:29 PM. The issuer is solely responsible for the accuracy of the information contained therein.

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Number of Analysts 32
Average target price 60,5 $
Spread / Average Target 10%
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