DETROIT/November 3, 2003 - Comerica Incorporated (NYSE: CMA) today announced the successful launch of a new area of the banking company’s Web site devoted to corporate governance.
From the home page (comerica.com), visitors can click on "Corporate Governance" to find the following:
Corporate Governance Guidelines recently adopted by the Comerica Incorporated Board of Directors, including information on director qualifications and responsibilities, responsibilities of key board committees, director independence standards, director and senior officer stock ownership guidelines, director compensation, and more;
Comerica’s Code of Business Conduct and Ethics;
Comerica’s Senior Financial Officer Code of Ethics;
Comerica’s Guidelines to Ethical Business Conduct;
Comerica’s board committee charters and information on committee composition;
Security ownership of management; and, more.
"Comerica is committed to sound corporate governance practices," said Ralph W. Babb Jr., chairman, president and chief executive officer. "We believe that strong corporate governance is important, and that integrity and trustworthiness are the cornerstones upon which successful companies are built."
"Comerica has a tradition of strong corporate governance," said Jon W. Bilstrom, executive vice president, Governance, Regulatory Relations and Legal Affairs. "Well before the adoption of the Sarbanes-Oxley Act of 2002 and related rules, we had implemented many of the governance features that companies are now expected to have. We are proud of our corporate governance initiatives and invite investors to learn more about them by visiting this new area of our company’s Web site."
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Detroit, strategically aligned into three major lines of business: the Business Bank, Small Business and Personal Financial Services, and Wealth and Institutional Management. Comerica’s more than 11,000 employees focus on relationships, and helping people and businesses be successful. Comerica Bank locations can be found in Michigan, California, Texas and Florida, with select businesses operating in several other states, Canada and Mexico. Munder Capital Management and Comerica Securities are investment services affiliates. Comerica reported total assets of $55 billion at September 30, 2003.
