DETROIT/Sept. 24, 2002 -- The Board of Directors of Comerica Incorporated (NYSE: CMA) today announced the completion of a leadership succession plan in which Chairman Eugene A. Miller will be succeeded by Ralph W. Babb Jr.
Babb, Comerica's president and chief executive officer since Jan. 1,2002, will assume the additional title of chairman on Oct. 1, 2002.
Miller, 65, completes a 47-year career of distinguished service to Comerica. In a resolution in appreciation of his service to the board, directors noted that Miller has been "instrumental in leading Comerica through many periods of incredible change in the financial services industry."
Comerica Incorporated (NYSE: CMA) is a financial services company focused on business banking and asset gathering. Through its more than 500 customer-service locations, including branch, lending and investment offices, Comerica helps businesses and people be successful. Comerica is ideally positioned to deliver high quality financial services in Michigan, California and Texas, as well as in Florida, 19 other states, Canada and Mexico. Comerica has an investment services affiliate, Munder Capital Management, ranked among the top money managers worldwide. Comerica reported total assets of $51 billion at June 30, 2002.
Media Contacts:
Sharon R. McMurray
(313) 222-4881
sharon_r_mcmurray@comerica.com
or
Wayne J. Mielke
(313) 222-4732
wayne_j_mielke@comerica.com
Investor Contacts:
Helen L. Arsenault
(313) 222-2840
helen_l_arsenault@comerica.com
or
Judith M. Chavis
(313) 222-6317
judith_m_chavis@comerica.com
