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Chief executive officer predicts bright future during Akron meeting
By Marilyn Miller
Beacon Journal business writer
Published on Thursday, Apr 17, 2008
FirstMerit Bank literally rolled out the red carpet for shareholders at its 26th annual shareholders meeting Wednesday in downtown Akron's John S. Knight Center.
About 300 shareholders attended.
Three items were approved, including an amendment altering the structure of the FirstMerit Corp. board of directors so that directors will be elected annually for one-year terms rather than three-year terms.
There are 13 directors in three groups with staggered terms. The entire slate of directors will be elected yearly beginning in 2010.
Directors elected Wednesday were: Karen Belden, Cary Blair, Robert Briggs and Clifford Isroff.
Also approved was the hiring of accounting firm Ernst & Young LLP for the year ending Dec. 31, 2008.
Paul Greig, chief executive officer and president of FirstMerit, gave an overview of the company's progress.
He said there has been credit improvement across departments with a stronger balance sheet and the bank's key priority for 2008 will be to concentrate on growth opportunity in areas such as Cleveland and Columbus.
''I think we have a bright future and we are working hard to produce great results,'' Greig said. ''We have an ongoing review of expenses to give great customer service and attack expenses that don't hold value to shareholders.''
Greig said retail banking was made stronger and more customer-oriented by combining the talents of regional CEOs, branch managers and advisory boards.
Marilyn Miller can be reached at 330-996-3098 or 800-777-7232 or mmiller@thebeaconjournal.com.
FirstMerit Bank literally rolled out the red carpet for shareholders at its 26th annual shareholders meeting Wednesday in downtown Akron's John S. Knight Center.
Get the full article here.
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