Wachovia announced that current Chairman Lanty Smith has been appointed interim chief executive officer, succeeding Ken Thompson, who is retiring at the request of the board.
Ben Jenkins, currently vice chairman and president of the general bank, will serve as interim chief operating officer. All of the company’s staff functions will report to Smith, with the company’s four lines of business–general bank, wealth management, the corporate and investment bank and capital management–reporting to Jenkins.
Smith has served as a director since 1987 and was lead independent director from 2000 until May 2008, when he became non-executive chairman. He also serves as chairman of the executive committee, and in the past he has chaired the audit committee.
Jenkins joined First Union in 1971, prior to its merger with Wachovia, and has held a number of senior executive positions, including president of first union in Florida, Virginia, Maryland, Washington, D.C., Georgia and South Carolina. He is a member of the board of trustees of Presbyterian Hospital and chairman of the board for Queens University of Charlotte.-PR Newswire
