KeyCorp made several changes to its board of directors, reaffirming the board’s commitment to strong corporate governance and long-term shareholder value creation.
The board will nominate Antonio “Tony” DeSpirito and Christopher L. “Chris” Henson for election as directors at KeyCorp’s 2026 Annual Meeting of Shareholders. Their additions follow a comprehensive search process led by the nominating and corporate governance committee, with the assistance of a leading independent search firm, as part of the board’s ongoing commitment to ensure its composition reflects the appropriate balance of experience and fresh perspectives in support of the company’s strategy. Following the additions of DeSpirito and Henson, the board will have added eight new directors over the past six years.
“Tony and Chris are outstanding additions whose experience and capabilities are directly aligned with KeyCorp’s priorities,” Chris Gorman, chairman and CEO of KeyCorp, said. “They bring expertise across capital markets, banking operations and financial oversight, as well as track records of value creation. They will further strengthen the board as the company continues to execute its strategy to drive disciplined growth, enhanced profitability and shareholder value.”
The board also appointed Todd Vasos to the role of lead independent director. Vasos succeeds Alexander M. “Sandy” Cutler, who will continue to serve as an independent director.
“Sandy has been a steady and principled presence in the boardroom, providing independent oversight as KeyCorp transformed and navigated periods of significant industry change,” Gorman said. “We will continue to benefit from his contributions as an independent director. Todd has been an excellent contributor to the board, and I look forward to working even more closely with him as our lead independent director.”
Vasos said, “I am honored to step into the role of lead independent director. I look forward to working closely with my fellow directors and management to provide strong independent oversight and support the execution of the company’s strategy.”
Additionally, Carlton Highsmith and Ruth Ann Gillis have announced they will retire from the board, effective at the annual meeting.
“Carlton and Ruth Ann have each made meaningful contributions to KeyCorp through their thoughtful leadership and deep expertise, and we thank them for their years of dedicated service,” Gorman said.
Following these changes, the size of the board will remain at 14 directors. As part of its commitment to strong corporate governance, the nominating and corporate governance committee will continue to evaluate opportunities to enhance the board’s composition in support of the company’s strategy.
