Regions Financial Appoints Former AutoZone CEO to Board of Directors

Regions Financial appointed, Bill Rhodes, the former president and CEO of AutoZone, to the boards of Regions Financial and its subsidiary, Regions Bank. Rhodes’ term on Regions’ boards will begin March 1.

Rhodes concluded his 18-year tenure as president and CEO of AutoZone in January, although he continues to serve as executive chairman for the company. Rhodes has been with AutoZone for 29 years overall. Over the course of Rhodes’ tenure as president and CEO, AutoZone roughly doubled its number of auto parts stores, grew its workforce to approximately 120,000 people and increased revenues by more than three times.

Prior to being named as AutoZone’s CEO, Rhodes served in a variety of executive roles for the Memphis, TN-based company, including leading store operations as well as overseeing the supply chain, information technology and finance departments. Rhodes began his career with Ernst & Young.

“Throughout his career, Bill has provided strategic leadership that led to strong business growth. And he’s never lost sight of the crucial importance of consistently creating positive customer experiences,” Charles McCrary, chair of the boards of Regions Financial and Regions Bank, said. “That makes Bill an ideal fit for Regions’ culture. We are committed to sound corporate governance that values the needs of all our stakeholders. Every day, our teams are delivering soundness, profitability and growth as we provide financial solutions for our customers and communities. And we know Bill’s experience and insights will help Regions build on its growth and deliver even greater value for the people and places we serve.”

Having lived in Memphis for more than 50 years, Rhodes is active in the city’s community and serves on several industry and nonprofit boards. He is the current chair of the Coalition for Auto Repair Equality and serves on boards of the Retail Industry Leaders Association, Youth Programs Inc., the National Civil Rights Museum and the University of Tennessee board of trustees. He also is a member of the J.R. Hyde III Family Foundation board of trustees.

“Regions Bank has built impressive customer loyalty by staying true to its mission to make life better for customers, communities, associates and shareholders,” Rhodes said. “The company is operating from a position of strength as it serves fast-growing, highly attractive markets across the Southeast, the Midwest and Texas. We have a tremendous opportunity to build on Regions’ solid foundation, and I look forward to collaborating with company leaders as we generate consistent, sustainable performance on behalf of everyone we serve.”

With the addition of Rhodes, Regions’ boards will consist of 15 members. Upon joining Regions’ boards, Rhodes will serve on the audit committee and the compensation and human resources committee.

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