Comerica Announces Annual Meeting Results

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Apr 26, 2011, 05:39 ET

DALLAS, April 26, 2011 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced the results of six proposals at today's annual meeting of shareholders, held at Comerica Bank Tower in Dallas, Texas.

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Elected to the board of directors for one-year terms of office expiring in 2012 were: Roger A. Cregg, executive vice president and chief financial officer, PulteGroup, Inc.; T. Kevin DeNicola, former chief financial officer, KiOR, Inc.; Alfred A. Piergallini, consultant, Desert Trail Consulting and Nina G. Vaca, chairman and chief executive officer, Pinnacle Technical Resources, Inc. and Vaca Industries Inc.

Other members of the Comerica Incorporated Board of Directors are: Ralph W. Babb Jr., chairman and chief executive officer, Comerica Incorporated and Comerica Bank; Jacqueline P. Kane, senior vice president of Human Resources and Corporate Affairs, The Clorox Company; Richard G. Lindner, senior executive vice president and chief financial officer, AT&T, Inc.; Robert S. Taubman, chairman, president and chief executive officer, Taubman Centers, Inc. and The Taubman Company; and Reginald M. Turner Jr., attorney, Clark Hill PLC.

James F. Cordes, retired executive vice president, The Coastal Corporation, has retired from the board effective with the annual meeting, in accordance with corporate governance guidelines, which call for directors to retire at the annual shareholders' meeting immediately following their 70^th birthday.

Shareholders also:

ratified the appointment of Ernst & Young LLP as independent auditors for the fiscal year ending December 31, 2011;
approved the Comerica Incorporated 2011 Management Incentive Plan;
approved the amendment of the Certificate of Incorporation and Bylaws to eliminate supermajority voting provisions;
approved a non-binding, advisory proposal approving executive compensation; and
recommended, through a non-binding, advisory vote, that the frequency with which shareholders are to be presented with advisory proposals approving executive compensation should be every year.

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.

SOURCE Comerica Incorporated