This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Board Of Directors Appoints CEO Kabat To Vice Chair; COO Carmichael Promoted To Bancorp President

Fifth Third Bancorp’s (Nasdaq: FITB) Board of Directors today announced that it has given Kevin T. Kabat the additional title of vice chairman, effective immediately. Kabat will continue to serve as chief executive officer, a position he has held since 2007, and as a board member.

“The Board is pleased that Kevin will add the additional title of vice chairman, given his outstanding leadership and performance during the most challenging time in our industry’s history,” said William Isaac, chairman of the Fifth Third Bancorp Board of Directors. “The Board has the utmost confidence in Kevin and in his ability to lead our Company now and in the future and this new title reflects that confidence.”

Isaac added that the structure of the Board of Directors will remain the same, with a non-executive chairman and an independent lead director.

Also today Kevin Kabat announced that the Board of Directors has promoted Greg Carmichael to president and COO, effective immediately.

Carmichael has served as chief operating officer since 2006. In 2008 he assumed responsibility for Fifth Third Mortgage Company, Consumer Finance and Dealer Finance and in 2009 his responsibilities were expanded to include the Retail Bank, Investment Advisors, Business Banking and all affiliates and markets. With his promotion to president, Carmichael will now have additional responsibility for the National Commercial Line of Business.

“Greg’s promotion to president recognizes his outstanding performance the past several years in driving company performance in our affiliates and throughout the lines of business,” said Kabat. “He has driven extraordinary results in a time of unprecedented challenges. Bringing the national commercial business under his leadership will more fully align our business lines and distribution capabilities.”

Carmichael began his career at Fifth Third in 2003 as executive vice president and chief information officer. During his tenure, he has assumed leadership positions overseeing Strategic Planning, Operations, Strategic Sourcing and Distribution Strategies. Prior to joining Fifth Third, he served as vice president and chief information officer for Emerson Electric, and held management roles with General Electric. A native of Cincinnati, Carmichael received his bachelor’s degree in computer science from the University of Dayton, and his MBA from Central Michigan University.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs