CLEVELAND, May 19, 2016 /PRNewswire/ -- KeyCorp (NYSE:
KEY) today announced at its annual meeting that shareholders can
expect the company to remain "Focused Forward" in 2016, by
improving financial performance, executing against strategic
priorities, investing for growth and remaining disciplined with
risk and capital.
"During my five years as CEO, I have never been more
enthusiastic about the future of this company and the opportunities
that lay before us. Key has made significant progress over the past
year, and we are well-positioned to accelerate our growth," said
Beth Mooney, CEO and Chairman,
KeyCorp. "We are excited about the opportunities we have as
we prepare to bring Key and First Niagara together, and we remain
confident in our ability to deliver on our commitments and
financial targets."
During the annual meeting, shareholders elected 14 nominees to
KeyCorp's Board of Directors, each holding executive leadership
positions within a variety of national and international
organizations, across a number of industries. Board elections was
one of five proposals put before shareholders at the company's
annual meeting, held Thursday, May 19
at One Cleveland Center in Cleveland,
OH.
Mooney reflected on KeyCorp's strong performance in 2015,
highlighting commitments met and sizeable returns on investments in
the company: "We saw strong levels of retail and
corporate client growth, record results in a number of our
fee-based businesses, and improved productivity across our
franchise." KeyCorp generated positive operating leverage in
2015 that, according to Mooney, was among the strongest in its peer
group and reflects the ability to grow revenue while controlling
expenses, despite market weakness.
Other proposals presented and approved by shareholders included
the appointment of Ernst & Young LLP as the company's
independent auditor for the 2016 fiscal year, an advisory proposal
on compensation of KeyCorp's named executive officers, and a
proposal on the terms of a performance-based compensation plan. A
shareholder proposal which requested the Board separate the
Chairman and Chief Executive Officer roles at KeyCorp was presented
but was not approved by the shareholders.
KeyCorp was organized more than 160 years ago and is
headquartered in Cleveland,
Ohio. One of the nation's largest bank-based financial
services companies, Key had assets of approximately $98.4
billion at March 31, 2016. Key
provides deposit, lending, cash management and investment services
to individuals and small and mid-sized businesses in 12 states
under the name KeyBank National Association. 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.
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are not historical facts but
instead represent management's current expectations and forecasts
regarding future events many of which are inherently uncertain and
outside of Key's control. Key's actual results may differ,
possibly materially, from the anticipated results indicated in
these forward-looking statements. Factors that could cause
Key's actual results to differ materially from those described in
the forward-looking statements can be found in Key's Annual Report
on Form 10-K for the year ended December 31,
2015, which has been filed with the SEC and is available on
Key's website at www.Key.com/IR and on the SEC's website at
www.sec.gov. Key does not undertake any obligation to update
the forward-looking statements to reflect the impact of
circumstances or events that may arise after the date of the
forward-looking statements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/keycorp-holds-2016-annual-meeting-300271672.html
SOURCE KeyCorp