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

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SunTrust Banks, Inc. : SunTrust Announces Blake P. Garrett, Jr. and G. Gilmer Minor, III to Retire from Board of Directors, Frank P. Scruggs, Jr. Nominated for Election

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04/15/2013 | 05:05pm CEST

ATLANTA, April 15, 2013 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) has announced that Blake P. Garrett, Jr., and G. Gilmer Minor, III will retire from the company's board of directors this year. In addition, the company announced that Frank P. Scruggs, Jr. has been nominated for election at the Annual Meeting of Shareholders in April.

Mr. Garrett and Mr. Minor have reached retirement age for directors. Both will serve as directors through the 2013 annual meeting but will not stand for re-election to the board.

"We are grateful to Blake Garrett and Gil Minor for their insights, service and commitment as they faithfully represented the interests of clients, shareholders and teammates throughout their tenures on the board," said William H. Rogers, Jr., SunTrust chairman and chief executive officer. "We also look forward to the prospect of welcoming Frank Scruggs to the board, and benefiting from his extensive governmental, legal and regulatory affairs experiences and perspectives."

Mr. Garrett has been a director since 2004. He is a partner in Garrett and Garrett Construction and related commercial real estate development companies of Fountain Inn, South Carolina.

Mr. Minor has served as a director since 1998. Since 1994, he has served as chairman of the board of Owens & Minor, Inc., the Richmond, Virginia-based national distributor of medical and surgical supplies, and he served as its president and chief executive officer until 2005.

Mr. Scruggs, 61, has been a partner in the Florida business law firm Berger Singerman LLP since 2007. Prior to that, he was Executive Vice President for Office Depot, Inc., and a shareholder of the law firm Greenberg Traurig LLC. He previously served as Florida Secretary of Labor and Employment Security, and served on the board of directors of Office Depot, Inc.

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, 2012, SunTrust had total assets of $173.4 billion and total deposits of $127.9 billion. Through its flagship subsidiary, SunTrust Bank, 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.

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