8-KLeadership ChangesRegulation FDExhibits & Filings

TRUIST FINANCIAL CORP 8-K Report, Executive Changes (Sep 7, 2022)

Filed September 7, 2022For Securities:TFCTFC-POTFC-PRTFC-PI

Summary

Truist Financial Corporation (TFC) announced a key leadership change via an 8-K filing, appointing Michael B. Maguire as its new Chief Financial Officer (CFO), effective September 15, 2022. This appointment follows the planned retirement of Daryl N. Bible. Mr. Maguire brings extensive experience within Truist, having previously held significant roles including Chief Consumer Finance and Payments Officer and leading enterprise partnerships. His background also includes a substantial tenure in investment banking. The company's Compensation and Human Capital Committee is set to review Mr. Maguire's compensation in light of his new responsibilities. This transition marks a significant step in Truist's executive team composition, with the board opting for an internal candidate with deep knowledge of the company's operations and strategic initiatives.

Key Highlights

  • 1Michael B. Maguire appointed as the new Chief Financial Officer (CFO) of Truist Financial Corporation, effective September 15, 2022.
  • 2Mr. Maguire succeeds Daryl N. Bible, who is retiring after the transition.
  • 3Maguire has a strong internal track record, previously serving as Chief Consumer Finance and Payments Officer.
  • 4His prior experience includes leading enterprise partnerships and investments in FinTech.
  • 5He also has a significant background in investment banking, having spent 16 years at Truist Securities.
  • 6Maguire's compensation package will be reviewed and potentially adjusted by the Compensation and Human Capital Committee.

Frequently Asked Questions

Michael B. Maguire has been appointed as the new Chief Financial Officer of Truist Financial Corporation, effective September 15, 2022.

The new CFO, Michael B. Maguire, is succeeding Daryl N. Bible, who announced his retirement in May 2022 and will retire upon the naming and transition of his successor.

Mr. Maguire has extensive experience within Truist, most recently as Chief Consumer Finance and Payments Officer. Prior to that, he led enterprise partnerships and investments and spent 16 years in investment banking at Truist Securities.

Yes, the Compensation and Human Capital Committee of Truist's Board of Directors will review Mr. Maguire's compensation in connection with his new role and consider appropriate adjustments.