New Board Members Introduced at Cullen/Frost Bankers
The board of directors of Cullen/Frost Bankers, Inc. (NYSE: CFR) has recently welcomed two new directors, Marsha M. Shields and Jeff Rummel, in an exciting step forward for the organization.
Experience and Insight from New Directors
Marsha M. Shields, who has assumed her role on the board, brings a wealth of knowledge and leadership experience, having served as the CEO and Managing Partner of McCombs Enterprises. Her tenure involves oversight of several core businesses, including the Red McCombs Automotive Group and McCombs Family Partners Ltd. Alongside her prominent positions, Shields also holds a spot as the president of the McCombs Foundation, Inc. Her involvement in various institutions, including the Texas Biomedical Research Institute and the M.D. Anderson Cancer Center, showcases her commitment to making a difference.
Rummel complements Shields' experience with his extensive background in financial services. Before joining the board, he was the managing partner of Ernst & Young's San Antonio office, where he excelled for five years. His expertise in auditing publicly traded companies gives him a unique perspective on risk management, particularly in complex financial environments.
Avery's Retirement Marks a New Chapter
With this addition, there is also a bittersweet moment for the board as Chris Avery announced his retirement after serving since 2015. A respected physician and the former CEO of James Avery Craftsman, Inc., Avery’s contributions have been pivotal during his tenure, particularly during challenging periods like the pandemic. His leadership and dedication have been appreciated by both the board and the wider community.
The Future of Cullen/Frost Bankers
The leadership transition at Cullen/Frost Bankers signifies a broader commitment to enrich the board with diverse expertise as they continue to navigate future challenges. Chairman and CEO Phil Green expressed enthusiasm about the fresh perspectives that Shields and Rummel will bring, highlighting Texas values and extensive business experience.
As Cullen/Frost Bankers continues to grow, this strategic infusion of talent is poised to enhance their capability to adapt and innovate in an evolving financial landscape.
About Cullen/Frost Bankers, Inc.
Cullen/Frost Bankers, Inc. (NYSE: CFR) operates with the vision of delivering comprehensive financial services that include banking, investments, and insurance. As one of the largest banking institutions in the United States, the company manages approximately $53 billion in assets, providing services to regions across Texas. Founded in 1868, Frost has maintained a long-standing commitment to support Texans in fulfilling their financial aspirations.
If you need further information, you can reach out to the Investor Relations team led by AB Mendez at 210-220-5234 or contact Bill Day from Media Relations at 210-220-5427.
Frequently Asked Questions
Who are the new board members of Cullen/Frost Bankers?
The newly appointed members are Marsha M. Shields and Jeff Rummel.
When did Chris Avery announce his retirement?
Chris Avery's retirement was announced as his term is set to expire in April.
What are Marsha Shields' previous roles?
Marsha Shields has been the CEO and Managing Partner of McCombs Enterprises and involved with various foundations and institutes.
What financial services does Cullen/Frost Bankers offer?
The company provides a wide array of services including banking, investments, and insurance to different regions in Texas.
How can I contact Cullen/Frost Bankers for more information?
You can reach the Investor Relations team at 210-220-5234 or Media Relations at 210-220-5427.
