Two other long-standing Fifth Third board members – former Fifth Third CEO Kevin Kabat and former NBA basketball player Junior Bridgeman – also said they will retire effective April 19. Cincinnati-based Fifth Third (Nasdaq: FITB), the largest locally based bank, made the announcement in its proxy statement filed with the Securities and Exchange Commission on Thursday.
Hackett, who is 60, is retiring from the board “to pursue other full-time employment opportunities,” Fifth Third said in an SEC filing.
Fifth Third didn't say when a replacement will be named, but the board could elect a new chairman at the annual meeting. Its lead director, Marsha Williams, will lead the board until a new chairman is elected.
Kabat and Bridgeman have each been board members since 2007. That’s the year Kabat took over as CEO. He retired from that role in November, when Greg Carmichael took over.
Bridgeman is owner and president of B.F. Industries, a Louisville-based company that operates numerous Wendy’s and Chili’s restaurants. He played 12 seasons in the NBA, mostly for the Milwaukee Bucks.
Fifth Third will reduce the size of the board so the three retirements won’t create a vacancy. Fifth Third will have 11 board members after its annual meeting.
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http://www.bizjournals.com/cincinnati/news/2016/03/10/fifth-third-s-cha…
Fifth Third Bancorp chairman James Hackett will retire from the board when the company holds its annual meeting on April 19.
Two other long-standing Fifth Third board members – former Fifth Third CEO Kevin Kabat and former NBA basketball player Junior Bridgeman – also said they will retire effective April 19. Cincinnati-based Fifth Third (Nasdaq: FITB), the largest locally based bank, made the announcement in its proxy statement filed with the Securities and Exchange Commission on Thursday.
Hackett, who is 60, is retiring from the board “to pursue other full-time employment opportunities,” Fifth Third said in an SEC filing.
Fifth Third didn't say when a replacement will be named, but the board could elect a new chairman at the annual meeting. Its lead director, Marsha Williams, will lead the board until a new chairman is elected.
Kabat and Bridgeman have each been board members since 2007. That’s the year Kabat took over as CEO. He retired from that role in November, when Greg Carmichael took over.
Bridgeman is owner and president of B.F. Industries, a Louisville-based company that operates numerous Wendy’s and Chili’s restaurants. He played 12 seasons in the NBA, mostly for the Milwaukee Bucks.
Fifth Third will reduce the size of the board so the three retirements won’t create a vacancy. Fifth Third will have 11 board members after its annual meeting.
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