Truist’s Rogers: Lyons CEO appointment brings ‘certainty’
Article excerpt
Highlighted: the sentence this signal was extracted from
There was "probably a little uncertainty of my timeline," the outgoing CEO said Friday, and and naming Mike Lyons to the role provides "assurance." Incoming Truist CEO Mike Lyons will inject fresh energy into the bank's pursuit of improved performance, outgoing CEO Bill Rogers indicated Friday. Lyons, who takes the helm of the bank Sept. 1, will provide "some acceleration, some assurance, some – in fairness – intensity" against the Charlotte, North Carolina-based lender's objectives to bolster profits and rev up growth, Rogers said. Once Lyons joins the bank, Rogers, who has been Truist's CEO since 2021, will become the $550 billion-asset bank's executive chair through April 2027, when he plans to retire. Lyons was most recently the CEO of payments firm Fiserv and president of PNC before that. When his appointment was announced in June, analysts covering Truist dubbed Lyons "a welcome outsider" providing "a fresh perspective" at a time when the bank needs a boost. "Mike's an accomplished and respected financial services leader with a proven ability to drive growth, improve performance and create long-term shareholder value," Rogers said during the bank's second-quarter earnings call. "Throughout the selection process, it was clear to our board that he's the right leader for his future." Rogers said Lyons and the super-regional bank's board are strongly aligned on Truist's...
Keep reading with a free account
The rest of this article, and every signal for Truist, is in your free account.
