Cleveland's KeyCorp (NYSE:KEY) needs to find a new accountant.
On Friday, the bank holding company announced that Chief Financial Officer Jeffrey B. Weeden is getting ready to retire. No date for his retirement has yet been set, and Weeden assures that he will be working "to ensure a smooth and successful transition of his responsibilities" as the company seeks a new CFO. But for now no one has been named to replace him.
Praising Weeden on the occasion of his exit, KeyCorp CEO Beth Mooney said in a statement: "For more than a decade, Jeff has played an important role in helping Key navigate the financial crisis and a changing regulatory environment. Key has emerged stronger and in a much better financial position thanks to his efforts. The Board of Directors and I thank Jeff for his many contributions to Key and wish him all the best in his future endeavors."
So far, investors are taking the news in stride. KeyCorp shares are unchanged in Friday trading at $10.29.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of KeyCorp. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.