Updated 11.12.2009

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Summary: InvesGuard's data model has scored Regions very low on all three of its governance areas. Its below average scores are marked by weak Senior Management Effectiveness and Board Independence.


Regions announced changes to its CFO on Febrary 22nd, 2010. The departing CFO was appointed less than 2 years back with lavish allowances and bonuses. This extravagant compensation (lavish for a 'TARP' borrower company) had already reduced its governance score but to add to this, the departure and subsequent turnover in a 'C' level position has weakened Region's governance score even further.


Regions Internal Control Environment under InvesGuard’s model also appears to have a few critical governance challenges.The Governance Framework of the company can be strengthened by making a few key changes to these governance documents.


On the Social and Environment front, Regions needs to provide more comprehensive information around key metrics in this area.


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Detailed Scorecard


Board Size: 14 (as per 2008 Proxy Statement filed in March 2009.)

Board of Directors Compensation($): $50,000- Annual retainer. $1500 for every Board Meeting or Board Committee meeting attended. In 2008, directors also received 7,000 shares in a stock option grant. These stock options come with an exercise price equal to the fair market value of Regions common stock on the date the options were granted.

Total CO2 emissions(metric tons): 2008-not published; 2007-not published

Amount received in Government Bailout($): $3.5Billion

Total CEO compensation for 2008: $9.3 million

Chief Risk Officer: William C. Wells, II

Tenure of Chief Risk Officer in this position: William C. Wells, II has held the position of Chief Risk Officer at Regions Financial Corp since December 2004.

Changes in Chief Risk Officer over the past 2 years**: None

** Why do we look at ‘Changes in Chief Risk Officer’?  Companies, where we observe quick changes to senior risk positions (in case of companies in the finance industry) are high on our ‘watch’ list.