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|Synovus Chairman and CEO Anthony to Take Medical Leave of Absence
|President and COO Stelling Named Acting CEO|
Columbus, GA, June 21, 2010 - Synovus Financial Corp. (NYSE: SNV) announced today that Richard E. Anthony, Chief Executive Officer and Chairman of the Board, will take a medical leave of absence from his roles, effective immediately. The Board of Directors has named Kessel D. Stelling, Jr., current President and COO, as acting CEO. In addition, the Board has appointed James D. Yancey, Chairman of the Board of Columbus Bank and Trust Company, a division of Synovus Bank, and former Chairman and current member of the Board of Synovus, as acting Chairman of the Board.
“We share in the concern for Richard's health and wish him a rapid recovery,” said V. Nathanial Hansford, lead director for Synovus. “In his absence, we are very fortunate to have a strong leader in Kessel Stelling to continue his oversight of the day-to-day operations of the company while also driving the vision and strategy for the future. In addition, Jimmy Yancey’s years of experience in banking and at Synovus provide further stability during this time.”
In commenting on the announcement, Kessel Stelling added, "The thoughts and prayers of the entire Synovus family are with Richard, and I will work tirelessly to fulfill his duties while he is getting the treatment he needs. Richard's leadership will be missed during his absence, but we will make sure that our vision for the company is carried out."
Anthony began to experience symptoms of his illness several weeks ago, and within the last few days has been diagnosed with a blood vessel disorder called Wegener’s Syndrome, a form of vasculitis which will require intensive treatment. He is currently undergoing treatment at the University of Alabama Medical Center in
“Building a foundation of unprecedented strength for the Synovus future has been my top priority since this economic crisis became apparent over three years ago,” said Anthony. “Now, however, it’s important that I focus my energy on my health to ensure my recovery is swift. I will remain in regular contact during my treatment, which has already begun, and look forward to resuming my duties.”
About Kessel D. Stelling, Jr.
Kessel Stelling is the President and Chief Operating Officer of Synovus, positions he has held since February 2010 and will continue to hold. From June 2008 until February 2010, Mr. Stelling served as the Regional Chief Executive Officer of Synovus'
About James D. Yancey
Jimmy Yancey is the Chairman of the Board of Columbus Bank and Trust Company (CB&T) and former Chairman of the Board of Synovus. He retired as an executive employee of Synovus in December 2004 and served as a non-executive Chairman of the Board until July 2005. Mr. Yancey was first elected as an executive Chairman of the Board of Synovus in October 2003. Prior to 2003 and for 45 years, Mr. Yancey served in various capacities with Synovus and CB&T, including Vice Chairman of the Board and President of both Synovus and CB&T. He has in-depth knowledge of and experience as a lender, and, as a result, was asked to chair the Real Estate Committee for the board. He has provided expert guidance to the Synovus board on managing credit issues, especially during the financial crisis. He serves as a director of Total System Services, Inc., or TSYS, and is on the boards of several civic and charitable organizations. Mr. Yancey has an associate's degree from
About Synovus Financial Corp.
Synovus Financial Corp. is a financial services company with more than $32 billion in assets based in