Exhibit 99.1
September 27, 2018
Media: Peter Lucht – 781.655.2289
Investors: Ellen A. Taylor – 203.900.6854
Citizens Financial Group Appoints Terrance Lillis to Board of Directors;
Anthony Di Iorio to Retire from Board in April 2019
PROVIDENCE, RI — Citizens Financial Group, Inc. (NYSE: CFG) today announced the appointment of Terrance (Terry) J. Lillis to its board of directors, effective Feb. 1, 2019. Lillis most recently served as Executive Vice President and Chief Financial Officer of Principal Financial Group until his retirement in May 2017. Lillis’ appointment will expand the Citizens Board from 12 to 13 directors. He will serve on the Board’s Audit Committee.
“We are pleased to welcome Terry to our board of directors,” said Chairman and Chief Executive Officer Bruce Van Saun. “Terry is a highly experienced financial services CFO and leader who will make a valuable contribution to both our Board and to our Audit Committee going forward, as we continue our journey to drive shareholder value and become atop-performing bank.”
Citizens also announced that Anthony Di Iorio, who has served on the Citizens board since 2014, will retire from the board after his current term expires at the end of April 2019, as he has reached age 75, the mandatory retirement age under the bank’s corporate governance guidelines. Mr. Di Iorio serves on the Audit Committee and the Nominating and Corporate Governance Committee.
Lillis, 65, joined Principal in 1982 as an actuarial student and held various senior actuarial, risk management and product-pricing roles through 2008 when he began service as chief financial officer. In that role, he was responsible for the financial integrity, sustainability and well-being of Principal. Lillis led a series of strategic initiatives that allowed Principal to weather the most recent global financial crises, create an adequate capital base and become a leading global provider of retirement, long-term savings and asset-management products and services through organic growth and acquisitions. During Lillis’ tenure as chief financial officer, Principal became a leading global financial services company with operations in more than 11 countries and clients in more than 75 countries.
An Iowa native, Terry received a bachelor’s degree from Simpson College after serving in the U.S. Army in the Republic of Korea. He received an M.S. degree in actuarial science from the University of Iowa in 1982. He is a member of the American Academy of Actuaries and the Society of Actuaries.
