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Article: Twin City's Renaud leaves driving to Mercantile. (resignation of Terry Renaud as chairman and CEO of Twin City Bank; Mercantile Bancorporation Inc.)
- Article from:
- Arkansas Business
- Article date:
- July 3, 1995
- Author:
CopyrightCOPYRIGHT 1995 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Former Chairman, CEO Says Industry Changes Have Widened Gap Between Large, Small Banks
Terry Renaud, former chairman and chief executive officer of Twin City Bank, says taking a road trip and running a business have one thing in common: You can't have two drivers.
The other driver in this case is Mercantile Bancorporation Inc. of St. Louis, which completed a merger with TCBankshares Inc. on May 1. Mercantile, according to filings with the Securities and Exchange Commission, agreed to employ Renaud for two years after the merger. He was to be chairman and CEO until May 1, 1996, and chairman the following year.
Instead, Renaud, who spent 27 years behind ...