8-KLeadership ChangesExhibits & Filings

FIFTH THIRD BANCORP 8-K Report, Executive Changes (Jun 22, 2006)

Filed June 22, 2006For Securities:FITBFITBOFITBPFITB-PIFITB-PMFITB-PAFITBIFITB-PK

Summary

Fifth Third Bancorp (FITB) filed an 8-K report on June 22, 2006, to announce significant changes in its leadership structure. The Board of Directors appointed George A. Schaefer, Jr. as Chairman of the Board, in addition to his existing role as Chief Executive Officer. This marks the re-establishment of the Chairman position, which had been vacant since 1993. Additionally, Kevin T. Kabat was appointed President of the company. These appointments signify a consolidation of leadership, with the CEO now also holding the Chairman title, potentially indicating a strategic direction towards more centralized decision-making. Mr. Kabat's continued oversight of key consumer banking divisions while taking on the President role suggests a focus on operational execution and growth within these segments under his expanded responsibilities.

Key Highlights

  • 1George A. Schaefer, Jr. appointed Chairman of the Board, in addition to his role as CEO.
  • 2The Chairman of the Board position was vacant since 1993, indicating a potential shift in corporate governance.
  • 3Kevin T. Kabat appointed President of Fifth Third Bancorp.
  • 4Mr. Kabat will continue to oversee affiliates, Corporate Marketing, and the Consumer Bank.
  • 5Mr. Kabat will report to CEO and now Chairman, George A. Schaefer, Jr.
  • 6The company incorporated by reference executive compensation arrangements from its 2005 10-K filing.
  • 7A press release dated June 20, 2006, detailing these appointments is included as an exhibit.

Frequently Asked Questions

Fifth Third Bancorp announced two key leadership changes: George A. Schaefer, Jr. has been appointed Chairman of the Board, in addition to his role as Chief Executive Officer, and Kevin T. Kabat has been appointed President of the company.

The appointment of George A. Schaefer, Jr. as Chairman is significant because the position had been vacant since 1993. This suggests a potential re-centralization or strengthening of leadership oversight at the board level.

As President, Kevin T. Kabat will continue to oversee the Company’s affiliates, Corporate Marketing, and the Consumer Bank, which includes retail, small business, mortgage, and consumer lending divisions. He will report to CEO and Chairman George A. Schaefer, Jr.

The filing states that information regarding executive officer compensation arrangements is incorporated by reference from Exhibit 10.18 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2005.