Regions Financial Corp 8-K, filed Dec 8, 2020
Regions Financial Corp (RF)
8-K
2020-12-08
For: 2020-12-08
View Original
Added on
April 11, 2026
About this 8-K
Regions Financial Corp filed this 8-K on December 8, 2020.
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, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 8, 2020
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address, including zip code, of principal executive office)
Registrant’s telephone number, including area code: (800 ) 734-4667
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Depositary Shares, each representing a 1/40th Interest in a Share of | ||||||||
| Depositary Shares, each representing a 1/40th Interest in a Share of | ||||||||
| Depositary Shares, each representing a 1/40th Interest in a Share of | ||||||||
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 8, 2020, John R. Owen announced that he plans to retire from his position as Chief Operating Officer of Regions Financial Corporation (“Regions”), effective March 15, 2021.
Upon his retirement, the Company plans to reorganize. As a result of the reorganization, Mr. Owen’s duties as Chief Operating Officer will be consolidated among several senior leaders.
A copy of the press release announcing Mr. Owen’s planned retirement and the anticipated resulting organizational changes 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 Index
Exhibit No. Description of Exhibit
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
SIGNATURES
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 hereunto duly authorized.
| REGIONS FINANCIAL CORPORATION | ||||||||
| By: | /s/ Tara A. Plimpton | |||||||
| Name: | Tara A. Plimpton | |||||||
| Title: | Chief Legal Officer and Corporate Secretary | |||||||
Date: December 8, 2020
EXHIBIT 99.1
Media Contact:
Jeremy D. King
Regions Bank Regions News Online: regions.doingmoretoday.com
205-264-4551 Regions News on Twitter: @RegionsNews
John Owen to Retire as Regions Chief Operating Officer Following 38-Year Career in Business and Banking
Owen’s leadership has consistently led to greater innovation in financial services.
BIRMINGHAM, Ala. – Dec. 8, 2020 – Regions Financial Corp. on Tuesday announced Chief Operating Officer John Owen will retire effective March 15, 2021, following a nearly 38-year career in business and banking, the last 13 of which have been at Regions.
Owen’s experience and insights have benefited several of Regions’ business groups and, in turn, the people and businesses who turn to Regions for comprehensive and innovative financial services. Owen joined the company in 2007 as head of Operations and Technology. In 2009, he was named head of Regions’ Consumer Services group. He later served two years as head of Business Lines, which included the Business Services, Consumer Services, Consumer Lending and Wealth Management groups.
In 2014, Owen was chosen to lead the company’s Regional Banking group, and he later served as head of Enterprise Services and Consumer Banking before being named Chief Operating Officer in 2018. As Chief Operating Officer, Owen’s leadership has guided the bank’s Enterprise Operations, Information Technology, Data and Analytics, Corporate Real Estate and Procurement, Corporate Marketing and Digital Banking groups, as well as Regions’ company-wide Continuous Improvement initiatives to drive greater efficiency, accelerate revenue growth and make banking easier for customers.
“John is a visionary leader who embraces every opportunity to deliver competitive financial services that meet the needs of today’s customers,” said Regions President and CEO John Turner. “Together with the rest of our Executive Leadership Team, John has helped position Regions for long-term growth and continued innovation. He has been on the front lines for our customers, including working tirelessly this year to support our services for people and
communities impacted by COVID-19. We wish John all the best as he retires, and we thank him sincerely for his many years of dedicated service.”
Under Owen’s leadership, Regions has consistently evolved how the bank serves consumers, such as unveiling an overhauled and upgraded Regions Mobile App for both iOS and Android devices earlier this year. In addition, Regions Bank was recently ranked first among regional banks in the J.D. Power 2020 U.S. Online Banking Satisfaction Study. During Owen’s tenure, Regions has also received recognition as a Javelin Trust in Banking leader and a top company for overall customer experience as ranked by various research firms.
“Over the last several years, our teams at Regions Bank have made significant progress in delivering new tools and services to help our customers reach their financial goals – while also positioning our company for continued growth and success,” Owen said. “These accomplishments are not the result of any one individual. Rather, they are the result of a dedicated team of professionals who bring their best on behalf of our clients every day. It has been an honor to serve Regions and its customers over the last 13 years, and I look forward to seeing Regions build on its foundation for success in the years to come.”
Active in the community, Owen has served on the boards of directors for the Birmingham Business Alliance, Innovation Depot and the United Way of Central Alabama, as well as the advisory board for the UAB Collat School of Business.
Before joining Regions, Owen was chief executive officer of Atlanta-based Assurant Specialty Property. Previously, Owen was senior vice president of Global Systems Development for Citicorp Credit Services, chief information officer of North American Operations for Arrow Electronics and senior vice president of technology for American Airlines. His career began in the Information Systems division of McDonnell-Douglas in 1983.
Following his retirement from Regions, Owen’s Enterprise Operations, Information Technology, and Data and Analytics responsibilities will be led by Regions’ Chief Operations and Technology Officer, Amala Duggirala. Duggirala will begin reporting directly to John Turner.
Kate Danella, currently Regions’ head of Strategic Planning and Consumer Bank Products and Origination Partnerships, will fill the newly created role of Chief Strategy and Client Experience Officer. Danella will lead the bank’s Strategic Planning, Digital Banking, Customer Experience, Corporate Communications, Corporate Marketing and Community Affairs divisions. Danella will continue to report to Turner.
Additionally, Dave Keenan, Regions’ Chief Human Resources Officer, will become Chief Administrative and Human Resources Officer and will lead business groups including Human Resources, Diversity and Inclusion, Learning and Development, Talent Acquisition, and Corporate Real Estate and Procurement. Keenan will continue reporting to Turner.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $145 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
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