- Push-out Score determined
- After around eight years in the position
- Accolades and praise for Hall
- Hall will remain as Executive Chairman at Regions Financial
- Hall said 39 words
(exechange) — Birmingham, Alabama, April 25, 2018 — Grayson Hall, chief executive of Regions Financial, hands over the reins. As announced by Regions Financial Corporation in a news release and in a regulatory filing published on Wednesday, April 25, 2018, O.B. Grayson Hall leaves his post as Chief Executive Officer at the banking company after around eight years in the position, effective July 2, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.7 years, according to data compiled by exechange.
Hall’s duties will be taken over by John M. Turner, currently President of Regions Financial Corporation.
“Continuation of its succession planning”
Hall’s departure from the CEO post is explained as follows. Regions Financial said: “As a continuation of its succession planning, at a meeting held on April 25, 2018, the Board of Directors … of Regions Financial Corporation … determined that, effective July 2, 2018, O. B. Grayson Hall, Jr., 60, will transition from the position of Chief Executive Officer; and that John M. Turner Jr., 56, will become Chief Executive Officer and a member of the Board of Regions and Regions Bank.”
Hall will remain as Executive Chairman at Regions Financial
Turner will succeed Chairman and Chief Executive Officer Grayson Hall, who will serve as Executive Chairman through the end of 2018, Regions Financial said.
Share price rise since July 2016
The change follows a rise in the share price of Regions Financial Corporation since July 2016.
In the position of CEO since 2010
Hall’s career at the company and a predecessor spans 38 years, including serving as Chief Executive Officer since 2010 and as Chairman since 2013.
Grayson Hall joined AmSouth Bank, a predecessor to Regions, in 1980 as a participant in the management trainee program.
He served in roles of increasing responsibility in Operations, Technology, Consumer Banking, Commercial Banking and Wealth Management.
Hall was elected vice chairman and a member of the boards of directors of Regions Financial Corporation and Regions Bank in 2008 and was named president and chief operating officer in October 2009.
He was named president and chief executive officer in April 2010 and assumed the role of chairman, president and chief executive officer in May 2013.
In December 2017, he became chairman and chief executive officer.
He graduated from the University of the South, Sewanee, Tennessee, in 1979 with a bachelor’s degree in economics.
In 1980, he received a master’s degree in business administration from the University of Alabama, Tuscaloosa, Alabama.
He attended Stonier Graduate School of Banking and executive development programs at Harvard Business School.
Hall serves on the public company boards of Alabama Power and Vulcan Materials.
In addition, he serves on the boards of the Federal Reserve Bank of Atlanta and the Birmingham Business Alliance and is a director on the boards of the Newcomen Society of Alabama and the Economic Development Partnership of Alabama.
He was named as a Trustee of the Crimson Tide Foundation and served as a representative on the Federal Advisory Council of the Federal Reserve Board of Governors 2014 – 2016.