FUTRELL TO RETIRE EARLY AS CHAIRMAN OF CENTURA BANKS INC.
ROCKY MOUNT, N.C., Jan. 7 /PRNewswire/ -- Centura Banks Inc. (NYSE: CBC) announced today J. Richard Futrell Jr. will retire as chairman and chief executive officer to become budget director for the state of North Carolina and a key advisor to Gov. James B. Hunt. "We have made great strides at Centura. I am proud of what we have accomplished, and I am looking forward to this new opportunity to serve the people of North Carolina," Futrell said. "I am fortunate to be leaving Centura in the capable hands of Bob Mauldin, who will succeed me as chairman and continue to follow the strategic direction we have set for the company." As part of the merger agreement that formed Centura in November 1990, Futrell had planned to retire as chairman in April, to be succeeded by Mauldin, who currently serves as president. Centura's board of directors will meet later this month and is expected to formally elect Mauldin to the additional position of chairman and Futrell as chairman of the executive committee. "We have just concluded a very successful year," Mauldin said. "Much of the credit for that success is due to Dick Futrell's leadership. He led us through the difficult early stages of the merger that formed Centura. North Carolina is very fortunate to have an executive with Dick Futrell's ability and experience as budget director." As budget director, Futrell will hold a cabinet-level position managing a number of the governor's responsibilities with the state budget. With approximately $3 billion in assets, Centura Banks Inc. operates 130 branches in 71 communities across North Carolina through its two subsidiaries, Centura Bank and MidSouth Bank. -0- 1/7/93 /CONTACT: A. Douglas Haynes, Director of Marketing, Centura Banks, 919-977-8429/ (CBC)
CO: Centura Banks, Inc. ST: North Carolina IN: FIN SU: PER
CM -- CH005 -- 2610 01/07/93 11:18 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 7, 1993|
|Previous Article:||TSYS REPORTS RECORD NET INCOME FOR 1992|
|Next Article:||ALBA-WALDENSIAN, INC. LICENSES LESLIE FAY|