Huntington Bancshares Announces Retirement of Marty Adams as President, Chief Operating Officer and Director
COLUMBUS, Ohio, Dec. 3 /PRNewswire-FirstCall/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) (www.huntington.com) announced today that Marty Adams will retire as president and chief operating officer effective December 31, 2007. Mr. Adams has served in his current position since the completion of the merger between Huntington and Sky Financial Group, Inc. on July 1, 2007. He will also step down as a company director at that time.
Mr. Adams will serve as a consultant to Huntington for one year following his retirement to assist with matters concerning Franklin Credit Management Corporation and other transitional issues.
"We are grateful to Marty for his leadership at Huntington and the important role he played in ensuring a smooth integration of Huntington and Sky," said David L. Porteous, Huntington's lead director.
"Marty has had a truly distinguished 30-year banking career, having built Sky from a small community bank in Ohio into an $18 billion diversified financial holding company with locations throughout the Midwest," said Thomas E. Hoaglin, Huntington's chairman and chief executive officer. "We wish him the best in retirement."
Mr. Adams began his career in 1977 with The Citizens Banking Company, Salineville, Ohio. He held several key positions and eventually became president and CEO of the company and its parent company, Citizens Bancshares. Citizens Bancshares was renamed Sky Financial Group, Inc. as a result of a merger between Citizens and Mid Am in 1998.
"I have decided to retire so I can remain in close proximity to my parents," said Mr. Adams. "My role with Huntington would have required a permanent relocation, which became a difficult family issue. With its business model of decision-making by local bankers supported by national resources and a value proposition of service excellence, Huntington's future is bright. I have enjoyed my time at Huntington and I look forward to supporting the company in any way I can."
Mr. Hoaglin will once again assume the role of president upon Mr. Adams' retirement. Mr. Hoaglin's retirement plans, previously announced in conjunction with the merger, are no longer in effect. As part of its normal fiduciary duties, the board of directors will review management succession plans on an ongoing basis.
Huntington Bancshares Incorporated is a $55 billion regional bank holding company headquartered in Columbus, Ohio. Huntington has more than 141 years of serving the financial needs of its customers. Huntington's banking subsidiary, The Huntington National Bank, provides innovative retail and commercial financial products and services through over 600 regional banking offices in Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, 24-hour telephone bank; and through its network of over 1,400 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Arizona, Florida, Georgia, Nevada, New Jersey, New York, North Carolina, South Carolina, and Tennessee; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Maryland and New Jersey. Sky Insurance offers retail and commercial insurance agency services, through offices in Ohio, Pennsylvania, Michigan, Indiana, and West Virginia. International banking services are available through the headquarters office in Columbus, a limited purpose office located in both the Cayman Islands and Hong Kong.
This document contains certain forward-looking statements, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those contained or implied by such statements for a variety of factors including: changes in economic conditions; movements in interest rates; competitive pressures on product pricing and services; success and timing of other business strategies; the nature, extent, and timing of governmental actions and reforms; and extended disruption of vital infrastructure. Additional factors that could cause results to differ materially from those described above can be found in Huntington's 2006 Annual Report on Form 10-K, and documents subsequently filed by Huntington with the Securities and Exchange Commission. All forward-looking statements included in this release are based on information available at the time of the release. Huntington assumes no obligation to update any forward-looking statement.
SOURCE Huntington Bancshares Incorporated
Released December 3, 2007