Keycorp /New/ 8-K, filed Feb 26, 2024
Keycorp /New/ (KEY)
About this 8-K
Keycorp /New/ filed this 8-K on February 26, 2024, reporting on events of February 23, 2024.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 26, 2024, KeyCorp (the “Company”) issued a press release announcing that Douglas M. Schosser, Chief Accounting Officer of the Company, intends to resign from the Company, effective March 15, 2024, to pursue a senior executive position at another company. The Company also announced that Stacy L. Gilbert, Corporate Controller of the Company, will succeed Mr. Schosser as Chief Accounting Officer and assume the responsibilities of the Company’s principal accounting officer effective upon Mr. Schosser’s resignation.
A copy of the Company’s press release announcing Mr. Schosser’s resignation and the naming of Ms. Gilbert as his successor is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |
| 99.1 | Press Release dated February 26, 2024. | |
| 104 | Cover Page Interactive Data File (embedded within Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| KEYCORP | ||||||
| Date: February 26, 2024 | ||||||
| /s/ James L. Waters | ||||||
| By: James L. Waters | ||||||
| General Counsel and Secretary | ||||||
Exhibit 99.1
KeyCorp announces Stacy L. Gilbert to succeed
Douglas M. Schosser as Chief Accounting Officer
CLEVELAND, February 26, 2024 /PRNewswire/ — KeyCorp (NYSE:KEY) announced that Douglas M. Schosser, currently Chief Accounting Officer, will be leaving the company to pursue a senior executive position at another company, effective March 15, 2024. Stacy L. Gilbert will succeed him as KeyCorp’s Chief Accounting Officer at that time.
Stacy has served as Corporate Controller of KeyCorp since August 2023. She previously served as Assistant Corporate Controller and Senior Director of External Reporting and Accounting Policy. Stacy first joined Key in 2002, holding a variety of accounting roles, before leaving to join FirstMerit Corporation in 2008. She re-joined Key in 2016.
“I would like to congratulate Stacy on her appointment,” said Clark Khayat, Chief Financial Officer of KeyCorp. “Her more than 25 years of accounting and financial reporting experience with publicly traded financial institutions will serve us well. I am confident that this well-planned succession will result in a smooth transition.”
“I want to thank Doug for his significant contributions to Key during his more than 25 years at our company,” Clark added. “We wish him all the best in his next endeavor.”
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About KeyCorp
KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $188 billion at December 31, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com. KeyBank is Member FDIC.