In connection with Regions’ 2024 Annual Meeting of Shareholders, two longstanding board members, Charles McCrary, who has served as chair of the board, and John D. Johns, chair of the risk committee, have retired.
As a result, CEO John Turner has been appointed chair of the board and Ruth Ann Marshall has been named lead independent director. Jim Prokopanko will serve as chair of the risk committee.
McCrary joined the Regions board 23 years ago – making him the company’s longest tenured director – and has served as chair of the board since early 2019.
“Serving on the Regions board has been an honor,” McCrary said. “Regions is a fascinating company with smart, talented and dedicated people. I hope I’ve contributed at least a tenth of what I’ve learned while working with them.”
Regions is a fascinating company with smart, talented and dedicated people. I hope I’ve contributed at least a tenth of what I’ve learned while working with them.
Charles McCrary
McCrary spoke optimistically about the future of the company, noting that combining the roles of Chair and CEO is a beneficial and effective option for Regions at this time.
“John Turner is a very effective leader with deep knowledge of the company’s operations and strategy,” McCrary said. “With almost six years of board service, he will be a critical link between the board’s oversight and the day-to-day functions of the company. This continuity will be key as the board and management team work together to execute Regions’ goals and strategies.”
McCrary also commented on Marshall’s appointment to lead independent director, saying, “Regions will benefit from Ruth Ann’s extensive board experience and record of leadership. Her executive experience in the financial services industry has provided her with a considerable understanding of issues unique to this business and positions her as a well-qualified, well-informed choice for this role.”
When asked to reflect on his time on the board and the significant changes in the banking industry during the last two decades, McCrary focused more on what has remained the same.
“One thing that has not changed, and has in fact stubbornly held fast, is Regions’ commitment to customers, shareholders and employees,” he said. “The culture of ‘do the right thing’ is deeply embedded and has not budged.”
Johnny Johns has served on the Regions board since 2011 and has served as chair of the risk committee since 2016. He looks back fondly at his tenure and noted how the business has evolved.
“I joined the board just after the worst of the Great Financial Crisis,” Johns recalled. “Since that time, Regions has dramatically grown its assets, earnings and market value and completely regained its financial footing and reputation. This remarkable turnaround would not have happened but for the tremendous loyalty and hard work put forth by Regions’ management team and associates.”
CEO and newly appointed Chair of the Board John Turner expressed appreciation for the extensive contributions of McCrary and Johns.
We are grateful for the leadership and service that Charles and Johnny have provided over their combined 37 years of service to the Regions board. We certainly appreciate their lasting contributions to Regions and wish them all the best.
John Turner, Regions CEO and Chair of the Board
“We are grateful for the leadership and service that Charles and Johnny have provided over their combined 37 years of service to the Regions board,” Turner said. “With their guidance and insight, the company has experienced much growth and success over the years, even while navigating a number of challenges. We certainly appreciate their lasting contributions to Regions and wish them all the best.”
Prior to his role as chair of the board, McCrary served the Regions board as lead independent director and chair of the nominating and corporate governance committee.
McCrary enjoyed a remarkable 40-year career at Alabama Power Company, a public utility company and Southern Company subsidiary headquartered in Birmingham, Alabama. He served as president and CEO from 2001 until he retired in February 2014 and was chairman until May 2014.
McCrary’s list of professional honors and recognition is just as impressive, including the Alabama Engineering Hall of Fame, Alabama Academy of Honor, Alabama Business Hall of Fame, NACD Directorship 100, and recipient of the Auburn University Lifetime Achievement Award.
Johns served as chairman and CEO of Protective Life Corporation from 2003 until 2017, then for two years as executive chairman and director. In February 2015, the company became a wholly owned subsidiary of Dai-ichi Life Insurance Company, Limited, and Johns served as chairman of DLI North America Inc. from 2018 until he retired in June 2020.
Johns was inducted into the Alabama Business Hall of Fame and the Alabama Academy of Honor and has served on the boards of Genuine Parts Company and Southern Company.
Stay the course. The bank has a great culture, extremely talented people and the ability to compete effectively with competitors of any size.
John D. Johns
When asked for advice he would share with fellow board members, the management team and associates, Johns’ response was simple and direct: “Stay the course.”
“The bank has a great culture, extremely talented people and the ability to compete effectively with competitors of any size.”
Turner, too, expressed confidence and enthusiasm about the future of the company, saying, “I am honored to begin service as chair of the board of Regions and look forward to ensuring that Regions continues to deliver consistent, sustainable, long-term performance.”
John Turner, Jim Prokopanko, Ruth Ann Marshall