Cullen/Frost Bankers Appoints Two New Directors, Expands Board

summarizeSummary

Cullen/Frost Bankers announced the appointment of two new independent directors, Marsha M. Shields and Jeffrey M. Rummel, and an expansion of its board from thirteen to fifteen members, while Dr. Chris Avery will retire at the upcoming annual meeting.

check_boxKey Events

• Two New Directors Appointed

  Marsha M. Shields, CEO of McCombs Enterprises, and Jeffrey M. Rummel, former Managing Partner at Ernst & Young, were elected to the Board of Directors, effective immediately.

• Board Size Expanded

  The Board of Directors was expanded from thirteen to fifteen members to accommodate the new appointments.

• Key Expertise Added

  Mr. Rummel brings over 37 years of experience in financial services audit and risk assessment, which is highly relevant for the company's Audit and Risk Committees.

• Director Retirement Announced

  Dr. Chris Avery will retire and not stand for re-election when his term expires at the 2026 Annual Meeting of Shareholders on April 29, 2026.

auto_awesomeAnalysis

Cullen/Frost Bankers has strengthened its board with the appointment of two highly experienced directors, Marsha M. Shields and Jeffrey M. Rummel, and expanded its board size. Mr. Rummel's extensive background as a former managing partner at Ernst & Young, with over 37 years in financial services audit and risk assessment, is particularly valuable for a financial institution and enhances the company's governance and oversight capabilities, especially on the Audit and Risk Committees. Mrs. Shields brings significant leadership experience from McCombs Enterprises and various board roles. The planned retirement of Dr. Chris Avery is a routine transition.