Fernando Araujo and Alice Rodriguez Join Cadence Bank's Board of Directors

Rhea-AI Summary

Cadence Bank (NYSE: CADE) has appointed two new independent directors to its board, effective January 17, 2025. Fernando Araujo, current CEO of Berry , brings over 30 years of oil and gas upstream operations experience, having previously worked with industry leaders like Schlumberger, Apache , Repsol S.A., and Shell Oil.

Alice Rodriguez, with over 35 years of experience at JPMorgan Chase & Co., joins the board after serving as head of JPMorgan's community impact organization. She is also co-owner of Kendall Milagro, a Dallas-based boutique home builder, and previously served as chair of the U.S. Hispanic Chamber of Commerce from 2020-2022.

Both appointments aim to strengthen Cadence Bank's leadership with diverse expertise in regulated industries, banking operations, and community development.

Positive

• Addition of two experienced independent directors enhancing board expertise
• Fernando Araujo brings significant operational and acquisitions experience in regulated environments
• Alice Rodriguez contributes extensive banking industry leadership across multiple sectors

Negative

• None.

HOUSTON and TUPELO, Miss., Jan. 21, 2025 /PRNewswire/ -- Cadence Bank (NYSE: CADE) today announced the appointment of Fernando Araujo and Alice Rodriguez to its board of directors, effective Jan. 17, 2025. Araujo and Rodriguez join the board as independent directors.

Araujo is an accomplished executive with more than 30 years of experience in all aspects of oil and gas upstream operations. He has served as the chief executive officer of Berry Corporation (NASDAQ: BRY), a company engaged in the safe and responsible development and production of conventional oil reserves in the Western United States, since January 2024, and as a director since March 2024. He joined the company in 2020 as executive vice president and chief operating officer. Prior to his time at Berry, Araujo worked for some of the most accomplished brands in the industry, including Schlumberger, Apache Corporation, Repsol S.A. and Shell Oil.

Rodriguez spent over 35 years at JPMorgan Chase & Co. (and its predecessors) in various executive leadership roles, most recently as head of its community impact organization. Since her retirement from JPMorgan, she has taken on a more active role as co-owner of Kendall Milagro, Inc., a boutique home builder in Dallas. She and her husband co-founded the company more than 20 years ago. Supporting her commitment to minority-driven causes, Rodriguez served as chair of the U.S. Hispanic Chamber of Commerce from 2020-2022 and is currently a board member of Oncor Electric Delivery Company LLC, a privately held regulated electricity transmission and distribution company.

"We are honored to welcome Fernando and Alice to our board of directors," said Dan Rollins, chairman and chief executive officer of Cadence Bank. "Fernando's insights and experience in leading diverse teams as well as in asset development and acquisitions within a highly regulated environment will be instrumental in driving our vision to help people, companies and communities prosper. Likewise, Alice's extensive leadership across all sectors of the banking industry – consumer, business, wealth management, operations and community impact and development, coupled with her experience as a small business operator, will be invaluable to our growth trajectory."

"I am excited to join the Cadence Bank board of directors," said Araujo. "Cadence is well-positioned in the industry and shares a similar operational focus on seeking positive outcomes for all stakeholders and leveraging technology to improve efficiencies. I look forward to collaborating with this talented team to drive growth and deliver impactful results while harnessing an entrepreneurial spirit."

Rodriguez added: "I look forward to using my strategic, operational and execution expertise to positively impact Cadence's growth journey. Throughout my career, I have always put people and purpose first, and I appreciate the company's shared commitment to supporting people, companies and communities."

To learn more, visit CadenceBank.com.

About Cadence Bank

Cadence Bank (NYSE: CADE) is a leading regional banking franchise with approximately $50 billion in assets and over 350 branch locations across the South and Texas. Cadence provides consumers, businesses and corporations with a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning and retirement plan management. Additional information about Cadence Bank and its products and services can be found at www.cadencebank.com. Cadence Bank, Member FDIC. Equal Housing Lender.

Forward-Looking Statements

This release may contain certain "forward-looking statements" including statements concerning plans, objectives, future events or performance and assumptions and other statements, which are statements other than statements of historical fact. The Company cautions readers that certain factors may have affected and could in the future affect actual results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company herein. For a list of factors which could affect the Company's results, see the Company's filings with the FDIC and Federal Reserve, including "Item 1A. Risk Factors," set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date of this release, even if subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fernando-araujo-and-alice-rodriguez-join-cadence-banks-board-of-directors-302356600.html

SOURCE Cadence Bank

FAQ

When did Fernando Araujo and Alice Rodriguez join Cadence Bank's (CADE) board?

Fernando Araujo and Alice Rodriguez joined Cadence Bank's board as independent directors effective January 17, 2025.

What is Fernando Araujo's background before joining CADE's board?

Fernando Araujo is the CEO of Berry with over 30 years of oil and gas operations experience, having worked at Schlumberger, Apache , Repsol S.A., and Shell Oil.

What experience does Alice Rodriguez bring to CADE's board of directors?

Alice Rodriguez brings over 35 years of experience at JPMorgan Chase & Co., where she served as head of community impact organization, along with experience as co-owner of Kendall Milagro and former chair of the U.S. Hispanic Chamber of Commerce.

How will these new board appointments benefit Cadence Bank (CADE)?

The appointments bring diverse expertise in regulated industries, banking operations, asset development, acquisitions, and community development, which will support Cadence Bank's growth trajectory and operational effectiveness.