The Bank of New York Company, Inc. and Mellon Financial Corporation have released their nominees to serve on the board of directors for The Bank of New York Mellon Corporation, which will be the name of the new company following the completion of the proposed merger of The Bank of New York and Mellon.
Subject to receipt of remaining regulatory approvals, including those from certain state and foreign governmental authorities, the companies are making plans to close the proposed merger on or about 1st July, at which time the nominees will be elected to the board.
As indicated in the December 4, 2006, merger announcement, the board will consist of 10 members designated by The Bank of New York and eight members designated by Mellon.
Thomas A. Renyi, chairman and CEO of The Bank of New York, will serve as executive chairman of The Bank of New York Mellon Corporation for 18 months following the close of the transaction with overall responsibility for the integration of the two companies.
Robert P. Kelly, president, chairman and CEO of Mellon, will serve as CEO of the new company and will succeed Renyi as chairman of the board upon the executive chairman’s retirement.
Catherine A. Rein, the presiding director for The Bank of New York, will serve as lead director of the new company.
The remaining directors will be: Frank J. Biondi, Jr.; Nicholas M. Donofrio; Gerald L. Hassell; Richard J. Kogan; Michael J. Kowalski; John A. Luke, Jr.; Thomas A. Renyi; William C. Richardson and Samuel C. Scott, III, from The Bank of New York’s board.
Directors from Mellon’s board include: Ruth E. Bruch; Steven G. Elliott; Edmund F. Kelly; Robert P. Kelly; Robert Mehrabian; Mark A. Nordenberg; John P. Surma and Wesley W. von Schack.
“These directors bring tremendous insight and talent to our board,” Renyi says. “Their guidance will be indispensable as we combine these two leading companies to create a global growth company committed to outperforming in every market we serve.”
Kelly adds: “We salute our departing board members who have helped both companies sharpen our business focus and achieve strong leadership in high-growth businesses. They have played an important role in positioning us for continued success globally, and we thank them for their many contributions.”