Synovus Announces Changes to Board of Directors
Columbus, GA, April 8, 2013 - Synovus Financial Corp. (NYSE:SNV), the Columbus, Georgia-based financial services company, today announced that its Board of Directors has nominated Barry L. Storey, founding partner of Hull Storey Gibson Companies, to stand for election at the company’s 2013 Annual Meeting of Shareholders, scheduled for April 25, 2013.
“Our board will benefit tremendously from Barry’s business expertise,” said Kessel Stelling, Chairman and Chief Executive Officer of Synovus. “In addition to building a successful real estate development company, he is a highly respected professional and community leader who will contribute greatly to the shaping of our company’s strategic direction.”
Storey, 53, helps guide Hull Storey Gibson Companies, LLC, an Augusta, Georgia-based real estate company, founded in 1992, that owns and operates more than 13 million square feet of retail strip centers and enclosed mall properties in the Southeast. He serves in a leadership capacity on several civic and professional boards, including as an Advisory Trustee of the University of Georgia Foundation, a member of the Dean’s Advisory Council of the University of Georgia’s Terry College of Business, and as a director of the Community Foundation of the Central Savannah River Agency (CSRA). Storey is also a member of the advisory board of AFB&T, a division of Synovus Bank. He holds a bachelor’s degree from the University of Georgia.
Synovus also announced that the following two incumbent directors have reached the mandatory retirement age for Synovus directors and will not stand for re-election at the 2013 Annual Meeting of Shareholders:
Frank Brumley, who has served as a member of the Synovus Board of Directors since 2004, the last two years as Lead Director. He is the Chairman of the Board and Chief Executive Officer of Charleston, South Carolina-based Daniel Island Company, a planned community development company.
H. Lynn Page, who has served on the Synovus Board of Directors since 1978, including time as Vice Chairman. He spent more than 25 years in various executive positions at Synovus in Columbus, and was instrumental in the development of the company’s payment processing line of business.
“I am grateful for the dedicated board service and commitment to our company from Frank and Lynn,” said Stelling. “Frank’s extensive experience in banking and commercial real estate provided invaluable insight and expertise to our board, and Lynn’s many years of leadership and vast knowledge of the banking industry has been a valuable resource for our executive team throughout his tenure. Our company has benefited from their many contributions, and their leadership will be missed.”
Replacing Brumley as Lead Director will be T. Michael Goodrich, effective as of the 2013 Annual Meeting of Shareholders. He has served on the Synovus board since 2004, including holding the position of Chairman of Synovus’ Compensation Committee and as a member of the Risk Committee and Executive Committee. He also serves as a member of the advisory board of Synovus’ First Commercial Bank, and as a director of Energen Corporation, a publically held diversified energy company. Goodrich is the former Chairman of the Board and Chief Executive Officer of BE&K, Inc, a privately-held international engineering and construction company based in Birmingham, Alabama.
“Mike’s business background, his proven leadership skills, and his public company expertise make him the ideal choice for this expanded role,” said Stelling.
Synovus is a financial services company with approximately $27 billion in assets based in Columbus, Georgia. Synovus’ divisions provide commercial and retail banking, investment, and mortgage services to customers through 29 locally branded divisions, 280 offices, and more than 400 ATMS in Georgia, Alabama, South Carolina, Florida, and Tennessee. Follow us on twitter @synovusbank. Equal Housing Lender