KeyCorp has announced that Cleveland’s longtime Chief Financial Officer and Chief Administrative Officer, Don Kimble, will retire effective May 1, 2023.
He will be replaced by Clark Kayat, Key’s Executive Vice President and current Chief Strategy Officer.
Key chairman and CEO Chris Gorman said in a statement, “Don is a highly respected leader, both internally and externally, and we are leveraging his expertise. We have developed a strategy and positioned the keys for healthy, profitable growth.I would like to personally thank Don for his tireless dedication, sound judgment and unwavering leadership.”
After nearly nine years at Huntington Bancshares, Kimble joined Key in June 2013 and retired as CFO. Prior to that, Kimble spent his 13-year career at Bank One.
According to the company, Khayat joined Key in 2012 to lead corporate strategy and later as group head of commercial payments. He established Key’s enterprise payments and fintech partnership strategy.
Khayat has also led the company’s strategy of building targeted scale through a series of investments in capabilities such as digital and analytics. He has also helped oversee niche acquisitions for companies such as Laurel Road, Kane Brothers and Pacific Crest Securities.
Key said Khayat will continue to be part of Key’s executive leadership team. As CFO, he oversees financial functions including accounting, tax, finance, financial planning and analysis, investor relations, and corporate strategy.
Gorman said, “I would like to congratulate Clark on his planned succession as Keycorp’s CFO following Don’s retirement.” He has a deep understanding of the business environment, industry and organization.”