BIRMINGHAM, Ala.--(BUSINESS WIRE)--Regions Financial Corporation (NYSE:RF) has been recognized by 2020 Women on Boards as a Winning “W” Company for the year 2017. Winning companies champion board diversity by having 20 percent or more of their board seats held by women.
“We at 2020 Women on Boards congratulate Regions Financial for its focus on board diversity. Shareholders, the workforce and the community are best served when boards have women directors,” said Betsy Berkhemer-Credaire, CEO of 2020 Women on Boards. “Regions is an outstanding example of how positive change happens through intentional efforts toward best practices in governance.”
2020 Women on Boards is a non-profit grassroots campaign committed to increasing the percentage of women who serve on company boards to 20 percent or greater by the year 2020. This is the third consecutive year that Regions has been recognized as a Winning “W” Company.
“Diversity and inclusion are essential to achieving and maintaining a thriving company, and we are fortunate at Regions to have a talented and dedicated board that reflects a range of backgrounds, ages, and expertise. I want to personally extend my appreciation to board members Carolyn Byrd, Ruth Ann Marshall and Susan Matlock for their insights and contributions to our company,” said Regions Chairman and CEO Grayson Hall. “We are pleased to be recognized among a distinguished group of Winning “W” companies that are committed to continuously improving good governance practices that benefit customers, associates, communities, and shareholders.”
Today Regions’ board is 36 percent diverse based on gender, race, ethnicity, or sexual orientation. Continuing to search for diverse candidates is a significant focus, as the board believes that diversity is an important aspect of effective governance, diminishes the opportunity for groupthink, and reflects the communities Regions serves.
Over the past two years, the board has also adopted proxy access; appointed three new independent directors, one of whom is diverse; further expanded the responsibilities of the Lead Independent Director; enhanced the board’s self-evaluation program; assigned oversight of environmental stewardship and corporate social responsibility to the board’s Nominating and Corporate Governance Committee; enhanced director recruitment criteria; and appointed a Chief Governance Officer.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $124 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, mortgage, and insurance products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 1,900 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.