8-KLeadership ChangesExhibits & Filings

FIFTH THIRD BANCORP 8-K Report, Executive Changes (Oct 19, 2009)

Filed October 19, 2009For Securities:FITBFITBOFITBPFITB-PIFITB-PMFITB-PAFITBIFITB-PK

Summary

Fifth Third Bancorp (FITB) filed an 8-K on October 19, 2009, reporting on its Board of Directors. The most significant event is the election of two new independent directors, Emerson L. Brumback and Jewell D. Hoover, to the Board. This action increases the Board's size to thirteen members and aims to bring additional expertise and experience, particularly relevant given the economic climate of 2009. Mr. Brumback brings extensive experience from his previous roles at M&T Bank, including as president and chief operating officer. Ms. Hoover contributes her expertise as a principal of a bank consulting firm and as an affiliate director at a regional Fifth Third Bank subsidiary. These appointments are intended to strengthen corporate governance and strategic oversight at a critical time for the financial industry.

Key Highlights

  • 1Fifth Third Bancorp elected two new directors to its Board of Directors on October 16, 2009.
  • 2The new directors appointed are Emerson L. Brumback and Jewell D. Hoover.
  • 3The Board's size was increased from eleven to thirteen directors to accommodate these new appointments.
  • 4Emerson L. Brumback is a retired president, chief operating officer, and director of M&T Bank.
  • 5Jewell D. Hoover is a principal of Hoover and Associates, LLC, a bank consulting company, and an affiliate director of Fifth Third Bank (North Carolina).
  • 6The compensation for the new directors will align with that of other non-employee directors.
  • 7The filing includes an attached press release dated October 16, 2009, detailing these appointments.

Frequently Asked Questions

Fifth Third Bancorp added two new directors to enhance the expertise and experience of its Board. The appointments of Emerson L. Brumback and Jewell D. Hoover are intended to strengthen corporate governance and strategic oversight, especially in the challenging economic environment of 2009.

Emerson L. Brumback is a retired executive from M&T Bank, having served as president, chief operating officer, and director. Jewell D. Hoover is a principal of Hoover and Associates, LLC, a bank consulting firm, and has prior experience as an affiliate director with a Fifth Third Bank subsidiary.

The addition of these two directors increased the size of Fifth Third Bancorp's Board of Directors from eleven to thirteen members.

No, the compensation for Mr. Brumback and Ms. Hoover for their service as directors will be consistent with the compensation paid to Fifth Third Bancorp's other non-employee directors.