BB&T's W.Va. executives comfortable with leadership change
WHITE SULPHUR SPRINGS, W.Va. -- BB&T Corp's most seasoned West Virginia leaders say CEO John Allison's announcement that he will retire is no surprise and that the organization is comfortable with Allison's successor, Kelly King.
Holmes Morrison is retired as CEO of BB&T in West Virginia but remains on BB&T's corporate Board of Directors. Morrison said today that he spoke to Allison Tuesday during the BB&T Board meeting in Winston-Salem, N.C. That's the meeting where Allison announced he would retire at the end of this year.
"I said one of most important things a CEO can do is provide outstanding successor leadership in the organization," Morrison said. "If John has done anything - and he's done so many things so well - I think his creation of a succession management plan was the most significant accomplishment."
Morrison said Allison's retirement has been planned.
"John has said for a long time he would like to retire at 60 and he turned 60 in August."
Allison has held the top job at BB&T since 1989.
King has been with BB&T his entire career, Morrison noted.
"He's been No. 2 behind John since 2004 and he's been a member of the executive management team for 26 years. He's a leading example of successor management. The board feels not only comfortable but excited about Kelly becoming CEO."
There are some reports that the naming of King, 59, as successor to the top job at BB&T is a signal that BB&T plans to remain an independent bank.
"That's certainly been the case the last several years and the case going forward," Morrison said. "As Kelly said, we will continue to execute our vision of creating the best financial institution possible."
BB&T became the largest bank in West Virginia in 2000 when it bought One Valley Bancorp.
Phyllis Arnold, the current president of BB&T in West Virginia, said, "From the merger of One Valley through 2004, West Virginia reported directly to Kelly King and I personally reported to him. Kelly was head of the banking network for many years. We know him well.
"He has visited us in West Virginia over 10 times and met with numerous clients," Arnold said.
Morrison and Arnold are participating in the West Virginia Chamber of Commerce's Business Summit at The Greenbrier Resort. The summit continues through Friday.
WHITE SULPHUR SPRINGS, W.Va. -- BB&T Corp's most seasoned West Virginia leaders say CEO John Allison's announcement that he will retire is no surprise and that the organization is comfortable with Allison's successor, Kelly King.
Holmes Morrison is retired as CEO of BB&T in West Virginia but remains on BB&T's corporate Board of Directors. Morrison said today that he spoke to Allison Tuesday during the BB&T Board meeting in Winston-Salem, N.C. That's the meeting where Allison announced he would retire at the end of this year.
"I said one of most important things a CEO can do is provide outstanding successor leadership in the organization," Morrison said. "If John has done anything - and he's done so many things so well - I think his creation of a succession management plan was the most significant accomplishment."
Morrison said Allison's retirement has been planned.
"John has said for a long time he would like to retire at 60 and he turned 60 in August."
Allison has held the top job at BB&T since 1989.
King has been with BB&T his entire career, Morrison noted.
"He's been No. 2 behind John since 2004 and he's been a member of the executive management team for 26 years. He's a leading example of successor management. The board feels not only comfortable but excited about Kelly becoming CEO."
There are some reports that the naming of King, 59, as successor to the top job at BB&T is a signal that BB&T plans to remain an independent bank.
"That's certainly been the case the last several years and the case going forward," Morrison said. "As Kelly said, we will continue to execute our vision of creating the best financial institution possible."
BB&T became the largest bank in West Virginia in 2000 when it bought One Valley Bancorp.
Phyllis Arnold, the current president of BB&T in West Virginia, said, "From the merger of One Valley through 2004, West Virginia reported directly to Kelly King and I personally reported to him. Kelly was head of the banking network for many years. We know him well.
"He has visited us in West Virginia over 10 times and met with numerous clients," Arnold said.
Morrison and Arnold are participating in the West Virginia Chamber of Commerce's Business Summit at The Greenbrier Resort. The summit continues through Friday.
