Suntrust Banks Inc. (STI) April 24, 2012 9:30 am ET Executives Raymond D. Fortin - Corporate Executive Vice President, General Counsel and Corporate Secretary William Henry Rogers - Chairman, Chief Executive Officer, President and Chairman of Executive Committee Aleem Gillani - Chief Financial Officer and Corporate Executive Vice President Presentation Raymond D. Fortin
As Ray mentioned, you'll find at your seat the rules of order for the meeting. The Governance Committee of the Board has approved these rules and as Chairman of the Meeting, I have the responsibility to apply them.The rules are designed so as to help ensure a meeting that is orderly and fair to all attending. I will endeavor to conduct a balanced meeting within these rules and other regulations knowing that you're here to learn more about SunTrust. I would like to recognize our proxy committee, 2 of our executives: Aleem Gillani, Corporate EVP and Chief Financial Officer; and Raymond Fortin, Corporate Secretary and General Council seated to my right. Ray, will you give us our report, which will begin the formal part of our meeting. Raymond D. Fortin Thank you. I present an affidavit that notice of this meeting has been duly and properly given and that a proxy statement has been furnished to each record holder of common stock of the company as of the record date of February 15, 2012. This affidavit is available if any shareholder wishes to examine it. I also report that the inspector of election for this meeting, Jeanine Simon, of our transfer agent Computershare, has filed with me her oath of office and a certificate stating that holders of more than 454 million shares of common stock of the company, or approximately 84% of the outstanding shares, are present in person or by proxy at this meeting. We'll have time for questions at the end of the meeting. As I stated earlier, you must have a gold card in order to ask a question. William Henry Rogers Thank you, Ray. We have a quorum, and I declare this meeting officially open for the transaction of business. To begin, we need approval of the minutes of our last annual meeting and the shareholders held on April 26, 2011. Ray Fortin has those minutes and is prepared to read them, unless there should be a motion to dispense with the reading and approve those minutes as written. Is there a second? Okay.
The first item on the agenda is the election of 14 directors to serve until our next annual meeting. Before naming the nominees, I'd like to take a moment to recognize 2 of our incumbent directors, who will retire immediately following this meeting: J. Hicks Lanier, Chairman and Chief Executive Officer of Oxford Industries; and Frank S. Royal, M.D., President and a member of Frank S. Royal, M.D., P.C. Mr. Lanier and Dr. Royal have served our company and our shareholders with distinction. Their perspective, insights and judgment have always been appreciated, and we are grateful for their service and dedication to SunTrust. Mr. Lanier is here. Hicks, would you please stand, so we can recognize you and thank you.Continuing with our current business, the nominees are as follows, and I would like for each director to stand and acknowledge those in attendance today as I call their name: Robert M. Beall II, Chairman of Bealls Inc.; Alston D. Correll, Chairman of Atlanta Equity Investors and retired Chairman of the Board and former CEO of Georgia-Pacific Corporation; Jeffrey C. Crowe, Chairman of the Board of -- former Chairman of the Board of Landstar Systems, Inc.; Blake P. Garrett, Jr., Partner in Garrett and Garrett Construction; David H. Hughes, retired Chairman of the Board of Hughes Supply; M. Douglas Ivester, President of Deer Run Investments and Retired Chairman and Former CEO of The Coca-Cola Company; Kyle Prechtl Legg, retired Chief Executive Officer of Legg Mason Capital Management; William A. Linnenbringer, retired partner in the accounting firm of PricewaterhouseCoopers; G. Gilmer Minor, III, Chairman of the Board of Owens & Minor. And our newest Director, Donna Morea, Retired President and Current Director of CGI Technologies and Solutions, welcome. David M. Ratcliffe, Retired Chairman and CEO of the Southern Company; Thomas R. Watjen, President and CEO of Unum; Phail Wynn, Jr., Vice President for Regional Affairs for Duke University and Former President of Durham Technical Community College; and myself, William H. Rogers, Jr., Chairman and CEO of SunTrust Banks. Read the rest of this transcript for free on seekingalpha.com