Synovus Announces Changes to Board of Directors
March 16, 2012, Columbus, GA – Synovus Financial Corp. (NYSE:SNV), the Columbus, Georgia-based financial services company, today announced that its Board of Directors has nominated Stephen T. Butler, Chairman of the Board of W.C. Bradley Co., and Jerry W. Nix, Vice Chairman and Chief Financial Officer of Genuine Parts Company, to stand for election at the company’s 2012 Annual Meeting of Shareholders, scheduled for April 26, 2012.
“Our board will greatly benefit from the extensive financial experience and successful business accomplishments of Jerry and Steve,” said Kessel Stelling, Chairman and Chief Executive Officer of Synovus. “Their backgrounds will be invaluable to our company as we make strategic decisions that position us for sustained profitability and continued growth in the future. Jerry and Steve are highly respected as individuals and business leaders, and we are honored to have them join our board.”
Butler, 61, is the Chairman of the Board of W.C. Bradley Co., a private consumer products and real estate company, a position he has held since 2008. Previously, he served as Chief Executive Officer and Chairman of the Board of W.C. Bradley Co., where he was responsible for the oversight and development of the company’s mass market home and leisure product businesses through acquisitions and new product introductions and the development of various real estate projects throughout Columbus, Georgia. In addition to his leadership role on the W.C. Bradley board, Butler currently serves as an advisory director of Columbus Bank and Trust, a division of Synovus Bank, and on the boards of various civic and non-profit companies, including St. Francis Hospital, Inc. and The Bradley-Turner Foundation. He attended Vanderbilt University and Columbus State University, and completed the Harvard Advanced Management Program.
Nix, 66, is the Vice Chairman and Chief Financial Officer of Genuine Parts Company, a public company engaged in the distribution of automotive replacement parts, industrial replacement parts, office products, and electrical/electronic materials. Prior to becoming Chief Financial Officer, Nix served in various capacities with the company, including as Senior Vice President of Finance. In addition to serving as a director of Genuine Parts, his civic activities include serving on the boards of Young Harris College, Cobb County Chamber of Commerce, Cobb Energy Performing Arts Authority, and Boy Scouts of America. Prior to joining Genuine Parts in 1978, Nix was an auditor with Ernst & Young and a pilot in the U.S. Air Force. He has bachelor’s degrees from Mississippi State University and the University of Florida.
Synovus also announced that the following three incumbent directors will not stand for re-election at the 2012 shareholders annual meeting:
James H. Blanchard, who served as Chairman and CEO of Synovus for more than 35 years before retiring as CEO in 2005 and Chairman in 2006.
Richard E. Anthony, who led the company as CEO beginning in 2005 and added the Chairman’s role in 2006; he retired as CEO in 2010 and as Chairman in January of 2012.
Richard Y. “Bo” Bradley, who has served as a member of the Synovus Board since 1991.
“Jimmy, Richard, and Bo have a combined 83 years of service to this company, and the extent of their contributions over the years cannot be measured,” said Stelling. “Our team is grateful for the role they played in building a foundation that has guided our company through both good and challenging times. From Jimmy fostering a culture that led to Synovus’ recognition as one of the best workplaces in America, to Richard’s leadership during some of the most difficult times in our history, to Bo’s expert guidance of many critical decisions for our Board, each of these individuals has helped shape who we are today and helped position our company for long term growth and success. Their leadership influence will be deeply missed.”
Synovus is a financial services company with $27 billion in assets based in Columbus, Georgia. Synovus provides commercial and retail banking, investment, and mortgage services to customers in Georgia, Alabama, South Carolina, Florida, and Tennessee. See Synovus on the web at www.synovus.com.