COMERICA INCORPORATED (NYSE:CMA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02.
DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On July 24, 2018, the Board of Directors of Comerica Incorporated (“Comerica”) appointed Curtis C. Farmer to serve on its Board of Directors, effective July 24, 2018. Mr. Farmer currently serves as President of Comerica and accordingly will not receive any compensation with respect to his service on the Board of Directors. He is not anticipated to be appointed to any committees of the Board of Directors. On July 24, 2018, Comerica issued a press release regarding Mr. Farmer’s appointment to the Board. A copy of the press release is attached hereto as Exhibit 99.1.
Additionally, Michael H. Michalak announced that he plans to retire on January 31, 2019. He intends to resign from his role as Chief Risk Officer of Comerica on or around January 1, 2019. However, it is expected that he will continue serving as Executive Vice President until his retirement from Comerica.
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ITEM 7.01 |
REGULATION FD DISCLOSURE. |
Organizational Announcements
On July 24, 2018, the Governance, Compensation and Nominating Committee (the “Committee”) and the Board of Directors determined that Jay K. Oberg will replace Mr. Michalak as Chief Risk Officer on or around January 1, 2019. On July 24, 2018, Comerica issued a press release regarding the retirement of Mr. Michalak and the appointment of Mr. Oberg as Chief Risk Officer. A copy of the press release is attached hereto as Exhibit 99.2.
Capital Actions
On July 24, 2018, Comerica issued a press release announcing the Board of Directors of Comerica had approved planned capital actions for the third quarter of 2018. A copy of the press release is attached hereto as Exhibit 99.3 and is incorporated by reference herein.
The information in Items 7.01 and 9.01 of this report (including Exhibits 99.2 and 99.3 hereto) is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
COMERICA INC /NEW/ ExhibitEX-99.1 2 a72418exhibit991.htm EXHIBIT 99.1 Exhibit Curtis C. Farmer Joins Comerica Incorporated Board of Directors DALLAS/July 24,…To view the full exhibit click here
About COMERICA INCORPORATED (NYSE:CMA)
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment. The Business Bank segment serves middle market businesses, multinational corporations and governmental entities by offering various products and services. The Retail Bank segment includes small business banking and personal financial services, consisting of consumer lending, consumer deposit gathering and mortgage loan origination. The Wealth Management segment offers fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services. The Finance segment includes its securities portfolio, and asset and liability management activities.