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The $69 billion-asset company in Dallas said in a press release Tuesday that Karen Parkhill resigned on Friday to "pursue other opportunities." Parkhill, who had also been the company's vice chairman, had been with Comerica since 2011.
May 3 -
Comerica may sell itself one day, but it won't be a very attractive takeover target or fetch top dollar until energy prices rebound and interest rates rise, company officials said at the annual meeting Tuesday.
April 26 -
After another disappointing quarter, Comerica is promising big changes in its ongoing quest to improve returns to shareholders. It appears to be considering all options, including selling off business lines and perhaps even merging with another institution.
April 19
It didn't take long for Karen Parkhill to re-emerge after her sudden departure from Comerica in Dallas.
Parkhill was announced Wednesday as the
Comerica disclosed
The reshuffling at Comerica took place days after a testy meeting with shareholders. Several major investors traveled to Dallas last week to publicly express frustrations over the company's lagging performance – and to urge directors to consider a sale.
Comerica's profits have plunged in the past year as it struggles with low interest rates and a growing number of bad oil loans. The company recently hired Boston Consulting Group to explore ways to cut costs and boost shareholder returns.
Parkhill's new role represents a career change for the longtime banker. Before joining Comerica in 2011, she was the CFO for commercial banking at JPMorgan Chase, where she worked for 19 years.
Parkhill was named as one of American Banker's Most Powerful Women in Banking
In the release, Medtronic praised Parkhill for her range of experience, including her membership on the board of Methodist Health System in Dallas.
"I look forward to the ideas and perspectives she will bring to our leadership team … during this transformational time at Medtronic and in the healthcare industry," Ishrak said.
