01—Abstract
Summary
Summary of the 8-K filed August 6, 2024. Cited figures are marked; the original filing is the authoritative source.
Fifth Third Bancorp (FITB) announced a significant change in its financial leadership structure through an 8-K filing dated August 6, 2024.
The report details the upcoming retirement of Executive Vice President and Controller, Mark D. Hazel, effective October 6, 2024. This transition triggers the appointment of new key financial officers to ensure continuity and maintain robust accounting and reporting functions.
Investors should note the appointment of Sara (Sallie) M. Willingham as Senior Vice President and Controller and Jeffrey A. Lopper as Senior Vice President and Chief Accounting Officer, also effective October 6, 2024.
Mr. Lopper's extensive experience within Fifth Third Bank, including his most recent role as Assistant Controller since 2012, suggests a smooth internal transition. The filing also confirms no unusual compensation arrangements or related-party transactions associated with these appointments, indicating a standard leadership change.
02—Key points
Key Highlights
- Mark D. Hazel, EVP and Controller, will retire effective October 6, 2024.
- Sara (Sallie) M. Willingham appointed as Senior Vice President and Controller, effective October 6, 2024.
- Jeffrey A. Lopper appointed as Senior Vice President and Chief Accounting Officer, effective October 6, 2024.
- Mr. Lopper will serve as the Company's principal accounting officer.
- Mr. Lopper brings over two decades of experience within Fifth Third Bank, most recently as Assistant Controller.
- The appointments are effective October 6, 2024, ensuring a coordinated transition.
- No related-party transactions or specific compensatory arrangements are disclosed in connection with Mr. Lopper's appointment.
03—Questions
Frequently Asked Questions
What is the main reason for this 8-K filing?
This 8-K filing is primarily to announce the retirement of the current Executive Vice President and Controller, Mark D. Hazel, and to disclose the appointments of his successors, Sara (Sallie) M. Willingham as Controller and Jeffrey A. Lopper as Chief Accounting Officer.
Who is replacing Mark D. Hazel?
Sara (Sallie) M. Willingham will step into the role of Senior Vice President and Controller, and Jeffrey A. Lopper will assume the position of Senior Vice President and Chief Accounting Officer. Both appointments are effective October 6, 2024.
What is Jeffrey A. Lopper's background with Fifth Third Bancorp?
Jeffrey A. Lopper has a long tenure at Fifth Third Bank, joining in 2000. He has held various significant accounting roles, including Assistant Controller since March 2012, Director of External Reporting, and Director of Accounting Risk and Policy. He previously worked as an audit manager at Arthur Andersen.
Are there any special compensation packages or conflicts of interest associated with these new appointments?
The filing explicitly states that there are no arrangements or understandings regarding Mr. Lopper's election, no family relationships with other directors or officers, and no reportable transactions requiring disclosure under Item 404(a). Furthermore, there are no new compensatory plans, contracts, or arrangements being entered into in connection with his appointment, suggesting a standard internal promotion.
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