Home > Business Insider > Archives > 2008 > April > 30 > Entry
DEL.ICIO.USHumann retires from SunTrust board; Isdell is not at annual meet
The Atlanta Journal-Constitution
Coca-Cola CEO Neville Isdell didn’t show up to his last annual meeting Tuesday as a director of SunTrust because he was traveling out of the country. With Isdell’s departure, SunTrust will be without Coca-Cola’s sitting CEO on its board.
Three other directors also stepped down from the board. J. Hyatt Brown, chairman of Brown & Brown in Florida; and Thomas Farnsworth, chairman of Farnsworth Investment Co. in Tennessee; both reached the mandatory retirement age of 70.
And Phil Humann, the past CEO who most recently was executive board chairman, resigned from the board altogether.
Humann, however, did share a passing thought about the timing of the bank’s annual meeting this year. As a break from the past, SunTrust’;s annual meeting wasn’t held the same week as Coca-Cola’s annual meeting.
The timing of annual meetings among Atlanta companies was much broader than just Coca-Cola and SunTrust, Humann said.
“As I recall, maybe 30 years ago, when boards were even much more overlapping than they are today, several companies said: ‘Why don’t we do all these annual meetings the same week,’” Humann said. “It was a matter of convenience.”
By holding the annual meetings the same week, executives and directors would be free to travel and work on other business for the rest of the month. Humann said some of those companies included Genuine Parts, Rollins, among others.
Comments