Comerica Announces Annual Meeting Results

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Apr 28, 2010, 09:15 ET

DALLAS, April 28 /PRNewswire-FirstCall/ -- Comerica Incorporated (NYSE: CMA) announced the results of eight proposals at yesterday's annual meeting of shareholders, held at Comerica Bank Tower in Dallas, Texas.

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Elected to the board of directors for a three-year term of office expiring in 2013 were: Ralph W. Babb Jr., chairman and chief executive officer, Comerica Incorporated and Comerica Bank; James F. Cordes, retired executive vice president, The Coastal Corporation; and Jacqueline P. Kane, senior vice president of Human Resources and Corporate Affairs, The Clorox Company.

Other members of the Comerica Incorporated Board of Directors are: Roger A. Cregg, executive vice president and chief financial officer, PulteGroup, Inc.; T. Kevin DeNicola, chief financial officer, KiOR, Inc.; Richard G. Lindner, senior executive vice president and chief financial officer, AT&T, Inc.; Alfred A. Piergallini, chairman, Wisconsin Cheese Group, Inc. and Consultant, Desert Trail Consulting; Robert S. Taubman, chairman, president and chief executive officer, Taubman Centers, Inc. and The Taubman Company; Reginald M. Turner Jr., attorney, Clark Hill PLC; and Nina G. Vaca, chairman and chief executive officer, Pinnacle Technical Resources, Inc.

Lillian Bauder, Ph.D., retired vice president, Masco Corporation; and Kenneth L. Way, retired chairman and chief executive officer, Lear Corporation; have 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 70th birthday.

Shareholders also:

ratified the appointment of Ernst & Young LLP as independent auditors for the fiscal year ending December 31, 2010;
approved a non-binding, advisory proposal approving executive compensation;
approved amendments to the Certificate of Incorporation to eliminate classification with respect to director elections;
approved the Comerica Incorporated 2006 Amended and Restated Long-Term Incentive Plan, as further amended;
approved a shareholder proposal relating to supermajority voting provisions;
approved a shareholder proposal relating to executive compensation awards; and
defeated a shareholder proposal relating to executive compensation policies.

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 & Institutional 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