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Regions Financial 8-K Report, Executive Changes (Aug 13, 2024)

Reports
Leadership Changes·Regulation FD·Exhibits & Filings
Filing Date
Filed August 13, 2024
Period End
August 12, 2024
In the record · 2016–202610-K1210-Q328-K207

RF filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 207 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Aug ’18Aug ’18
  2. Leadership change8-K · Jun ’22Jun ’22
  3. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed August 13, 2024. Cited figures are marked; the original filing is the authoritative source.

Regions Financial Corporation (NYSE:RF) filed an 8-K on August 13, 2024 to report a leadership change in its Corporate Banking Group.

Ronald G. Smith, Senior Executive Vice President and Head of the Corporate Banking Group, notified the company on August 12, 2024 of his intent to retire on or around December 31, 2024. The company has appointed Brian R.

Willman to succeed him as Senior Executive Vice President, Head of Corporate Banking Group, effective upon Smith's retirement. The accompanying press release, filed as Exhibit 99.1, also states that Nikki Stephenson, currently head of Credit Products, will be elevated to head of Commercial Banking and will report directly to Willman. Willman, a 15-year Regions veteran, previously served as head of Commercial Banking, and will report directly to Chairman, President and CEO John Turner.

Smith began his career in 1981 and was named head of the Corporate Banking Group in 2018. This filing is a management transition announcement and contains no financial results, guidance, or quantitative performance data. The filing states that Regions has $154 billiona in assets, and that the press release information is furnished under Item 7.01 and not deemed filed for purposes of Section 18 of the Exchange Act.

02—Key points

Key Highlights

  1. Ronald G. Smith, Senior Executive Vice President and Head of the Corporate Banking Group, intends to retire on or around December 31, 2024.
  2. Brian R. Willman, currently head of Commercial Banking, will succeed Smith as head of the Corporate Banking Group effective upon Smith's retirement.
  3. Nikki Stephenson, head of Credit Products, will be elevated to head of Commercial Banking and will report directly to Willman.
  4. Willman will report directly to Chairman, President and CEO John Turner, per the press release.
  5. Willman joined Regions in 2009 and became head of Commercial Banking in early 2020.
  6. The filing contains no financial results or guidance; it is a leadership transition announcement.
  7. Regions is described in the press release as having $154 billion in assets and approximately 1,250 banking offices.

03—Questions

Frequently Asked Questions

  1. Why is Ronald Smith leaving his role?

    The filing states that Smith notified the company on August 12, 2024 of his intent to retire on or around December 31, 2024, following more than four decades of service to Regions and its predecessor banks.

  2. Who is replacing Ronald Smith?

    Brian R. Willman has been appointed Senior Executive Vice President, Head of Corporate Banking Group, effective upon Smith's retirement. Willman previously served as head of Commercial Banking.

  3. Does this announcement affect Regions' financial results?

    The filing does not report any financial results, guidance, or quantitative impact. It is limited to the announcement of a leadership transition.

  4. Who will lead Commercial Banking after this change?

    According to the press release in Exhibit 99.1, Nikki Stephenson, currently head of Credit Products, will be elevated to serve as head of Commercial Banking, reporting directly to Willman.

04—Continue

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