Truist names Michael P. Lyons CEO effective Sept. 1; Rogers becomes executive chair
Truist Financial said Michael P. Lyons, most recently chief executive of Fiserv, will become president and CEO on September 1, 2026, succeeding William H. Rogers, Jr., who will serve as executive chair. The filing sets out pay terms for both men, including a $1,300,000 starting base salary for Lyons and an $8,500,000 performance stock unit award for Rogers in 2027.
Key points
- Lyons, age 55, will receive an initial annual base salary of $1,300,000 and a 2026 long-term incentive award with a target grant-date value of $12,000,000.
- Rogers retires as CEO effective September 1, 2026, and stays on as executive chair; the 8-K says he remains a director through the 2027 annual shareholder meeting, and the press release cites a planned April 2027 retirement.
- Lyons's severance under the Executive Severance Plan is two times salary plus target bonus, or three times if termination occurs within 24 months after a change in control.
- Lyons's 2026 leadership appointment comes after roles as Fiserv CEO from May 2025 to June 2026 and PNC Financial Services president from February 2024 to January 2025.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 15, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.