ROCKY MOUNT, N.C., April 15 /PRNewswire/ -- Cecil W. Sewell, Jr.,
chairman and CEO of Centura Banks, Inc. (NYSE: CBC) today announced a
structural reorganization that will enable Centura's leadership team to more
keenly focus on execution of the company's strategic vision to be an effective
retailer of financial services. The new, flatter organizational structure,
designed to promote collegiality, flexibility, and agility in decision-making,
establishes an Office of the Chairman with six incumbents and an Office of the
President with two members. The organizational changes were approved today by
Centura's board of directors.
Sewell has appointed a five-person team to join him in the Office of the
Chairman. Team members include H. Kel Landis III, William H. Wilkerson,
Steven J. Goldstein, Frank L. Pattillo, and B. Thomas Rogers, Jr. They will
have specific areas of responsibility and shared accountability for all areas
under that office. Additionally, Kel Landis and Bill Wilkerson will jointly
occupy the Office of the President, with Landis serving as President of
Centura Bank, and Wilkerson serving as President of Centura Banks, Inc.
Steven Goldstein will continue as Chief Financial Officer; Frank Pattillo will
remain Vice Chairman, Administration; and Tom Rogers will function as Chief
Strategic Development Officer.
"As Centura more completely executes its strategic vision of retailing
banking, investments, and insurance services, management has come to believe
that a hierarchical organization is no longer effective in providing the means
to achieve our objectives," said Sewell. "Leadership's role is far more
complex and diversified today, necessitating a flatter management structure
that accommodates flexibility and teamwork."
As President, Centura Bank, Kel Landis will oversee Sales and Marketing,
which includes sales, service, marketing, and delivery for Centura's business
lines, including banking, securities, trust and investment management, and in-
store banking. Bill Wilkerson, as President, Centura Banks, Inc., will
maintain responsibility for all credit risk, including leasing, commercial
credit, and consumer and small business credit, and assume responsibility for
insurance and capital markets.
"The exceptional and diverse strengths, skills, and backgrounds of Kel
Landis and Bill Wilkerson mesh to bring a full complement to the Office of the
President," added Sewell.
With assets of $7.5 billion, Centura provides a complete line of banking,
investment, leasing, insurance, and trust services to individuals and
businesses in North Carolina, South Carolina, and the Hampton Roads region of
Virginia. Services are provided through 199 financial service offices; more
than 300 ATMs at financial centers, Wal-Mart stores, and Sam's outlets;
Centura Highway; Centura's Internet site; and through Quicken(R),
Quickbooks(R), Microsoft(R) Money, and BankNow(TM), the leading online money
management software packages. Additional information about Centura is
available on its website at http://www.centura.com.
SOURCE Centura Banks Inc.
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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 870954
Related links:
http://www.centura.com
CONTACT:
Cecil W. Sewell, Centura Bank, 919-977-4813,
or cws@centura.com
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