KeyCorp (KEY) Announces Management Changes

KeyCorp (NYSE: KEY) announced that Donald R. Kimble, Chief Financial Officer (CFO) and Chief Administrative Officer, will retire on May 1, 2023. He will be succeeded by Clark H.I. Khayat, currently Chief Strategy Officer.

"Don is a highly respected leader both inside and outside our company, using his expertise to help shape our strategy and position Key for sound, profitable growth," said Christopher M. Gorman, Chairman and Chief Executive Officer of KeyCorp. "On a personal note, I want to thank Don for his tireless commitment, sound judgement, and steadfast leadership."

"I want to congratulate Clark on his planned succession as KeyCorp's Chief Financial Officer upon Don's retirement," Chris added. "Clark is a strategic and purpose-driven leader who has played a critical role in both developing and executing our strategy. He has a deep understanding of the operating environment, our industry, and our organization."

Khayat will continue to serve as a member of KeyCorp's executive leadership team reporting to Chairman and Chief Executive Officer Chris Gorman and as CFO, will oversee the finance function, including such areas as accounting, tax, treasury, financial planning and analysis, investor relations, and corporate strategy.

Khayat joined KeyCorp in 2012, leading Corporate Strategy and then serving as Group Head of Commercial Payments. He established Key's enterprise payments and Fintech partnership strategies. Khayat led the company's strategy to build targeted scale through a series of investments in capabilities such as digital and analytics as well as successful niche acquisitions, including Laurel Road, Cain Brothers, and Pacific Crest.

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