KeyCorp Announces Board of Directors Changes to Enhance Governance and Shareholder Value
KeyCorp, a key player in the financial services sector, recently announced important changes to its Board of Directors, underlining its commitment to corporate governance and value creation for shareholders. These modifications come as part of KeyCorp's ongoing initiative to ensure that its board is equipped with the necessary expertise and perspectives to support the company’s strategic objectives.
As announced on January 20, 2026, KeyCorp will nominate Antonio "Tony" DeSpirito and Christopher L. "Chris" Henson for election as directors at the upcoming 2026 Annual Meeting of Shareholders. This appointment follows a diligent search process facilitated by the Nominating and Corporate Governance Committee, supported by a leading search firm. The addition of DeSpirito and Henson marks a significant milestone, as they will be the eighth and ninth new directors to join the board in the past six years, demonstrating a proactive approach toward refreshing the board’s composition.
Chris Gorman, Chairman and Chief Executive Officer of KeyCorp, expressed his enthusiasm for the new nominations. He stated, "Tony and Chris are outstanding additions whose experience and capabilities align perfectly with KeyCorp's priorities. They bring significant expertise in capital markets, banking operations, and financial oversight, along with proven records of value creation. Their contributions will bolster our board's strength as we focus on driving disciplined growth, enhancing profitability, and ultimately delivering greater shareholder value."
In addition to the new appointments, the board also announced the appointment of Todd Vasos as the Lead Independent Director. Vasos takes over from Alexander M. "Sandy" Cutler, who will remain an independent director. Gorman praised Sandy’s steadfast leadership during periods of significant transformation within the industry. "Sandy has been a principled presence in the boardroom," Gorman noted, "providing much-needed oversight and guidance as the company navigates through changes in the financial landscape."
In his acknowledgment of the new role, Vasos expressed honor in being appointed Lead Independent Director and emphasized the collaborative spirit he hopes to foster among directors and management to uphold strong governance practices and support the company's strategic goals.
Furthermore, with a nod to leadership transitions, Carlton Highsmith and Ruth Ann Gillis will retire from the board after the Annual Meeting. Gorman thanked both directors for their impactful service, highlighting their thoughtful leadership and invaluable insights over the years.
With these updates, the board’s size will remain at 14 directors, continuing to reflect a commitment to strong governance structures. The Nominating and Corporate Governance Committee will persist in its evaluative efforts to refine the board’s composition, ensuring it remains aligned with KeyCorp's long-term strategy.
Each nominee brings distinct qualifications to the table. Antonio DeSpirito, a Managing Director at BlackRock, has a wealth of knowledge in public markets and long-term value creation. His strategic insights are expected to yield beneficial outcomes for the board. Christopher Henson, a seasoned banking executive with extensive experience in finance and operations, is poised to strengthen the company’s risk management capabilities further, having served in key capacities at notable financial institutions.
As KeyCorp continues to solidify its position as a leading financial services provider in the U.S., these changes represent a calculated approach to governance and strategic oversight, designed to sustain a competitive edge in an evolving marketplace. With robust leadership and a focus on innovative growth strategies, KeyCorp remains committed to fostering value for its shareholders while navigating the challenges of the financial sector with agility and foresight. For more information, visit KeyCorp’s official website at https://www.key.com/. KeyBank is a member of the FDIC.
As announced on January 20, 2026, KeyCorp will nominate Antonio "Tony" DeSpirito and Christopher L. "Chris" Henson for election as directors at the upcoming 2026 Annual Meeting of Shareholders. This appointment follows a diligent search process facilitated by the Nominating and Corporate Governance Committee, supported by a leading search firm. The addition of DeSpirito and Henson marks a significant milestone, as they will be the eighth and ninth new directors to join the board in the past six years, demonstrating a proactive approach toward refreshing the board’s composition.
Chris Gorman, Chairman and Chief Executive Officer of KeyCorp, expressed his enthusiasm for the new nominations. He stated, "Tony and Chris are outstanding additions whose experience and capabilities align perfectly with KeyCorp's priorities. They bring significant expertise in capital markets, banking operations, and financial oversight, along with proven records of value creation. Their contributions will bolster our board's strength as we focus on driving disciplined growth, enhancing profitability, and ultimately delivering greater shareholder value."
In addition to the new appointments, the board also announced the appointment of Todd Vasos as the Lead Independent Director. Vasos takes over from Alexander M. "Sandy" Cutler, who will remain an independent director. Gorman praised Sandy’s steadfast leadership during periods of significant transformation within the industry. "Sandy has been a principled presence in the boardroom," Gorman noted, "providing much-needed oversight and guidance as the company navigates through changes in the financial landscape."
In his acknowledgment of the new role, Vasos expressed honor in being appointed Lead Independent Director and emphasized the collaborative spirit he hopes to foster among directors and management to uphold strong governance practices and support the company's strategic goals.
Furthermore, with a nod to leadership transitions, Carlton Highsmith and Ruth Ann Gillis will retire from the board after the Annual Meeting. Gorman thanked both directors for their impactful service, highlighting their thoughtful leadership and invaluable insights over the years.
With these updates, the board’s size will remain at 14 directors, continuing to reflect a commitment to strong governance structures. The Nominating and Corporate Governance Committee will persist in its evaluative efforts to refine the board’s composition, ensuring it remains aligned with KeyCorp's long-term strategy.
Each nominee brings distinct qualifications to the table. Antonio DeSpirito, a Managing Director at BlackRock, has a wealth of knowledge in public markets and long-term value creation. His strategic insights are expected to yield beneficial outcomes for the board. Christopher Henson, a seasoned banking executive with extensive experience in finance and operations, is poised to strengthen the company’s risk management capabilities further, having served in key capacities at notable financial institutions.
As KeyCorp continues to solidify its position as a leading financial services provider in the U.S., these changes represent a calculated approach to governance and strategic oversight, designed to sustain a competitive edge in an evolving marketplace. With robust leadership and a focus on innovative growth strategies, KeyCorp remains committed to fostering value for its shareholders while navigating the challenges of the financial sector with agility and foresight. For more information, visit KeyCorp’s official website at https://www.key.com/. KeyBank is a member of the FDIC.
Topics Financial Services & Investing）
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