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Jan. 10, 2018

Fifth Federal Reserve District Board Appointments Announced

Robert R. Hill Jr., chief executive officer of South State Corporation, Columbia, South Carolina, was re-elected as a Class A director.

Thomas C. Nelson, chairman, president and chief executive officer of National Gypsum Company, Charlotte, North Carolina, was re-elected as a Class B director.

The Board of Governors of the Federal Reserve System and the Federal Reserve Bank of Richmond Board of Directors have appointed the following directors effective January 1, 2018:

Kathy J. Warden, president and chief operating officer of Northrop Grumman Corporation, Falls Church, Virginia, was reappointed by the Board of Governors to a three-year term on the Richmond board.

Susan J. Ganz, chief executive officer of Lion Brothers Company Inc., Owings Mills, Maryland, was reappointed by the Board of Governors to a three-year term on the Baltimore branch board.

Austin J. Slater Jr., president and chief executive officer of Southern Maryland Electric Cooperative Inc., Hughesville, Maryland, was reappointed by the Richmond Board of Directors to a three-year term on the Baltimore branch board.

Laura C. Meagher, vice president, general counsel and secretary of VF Corporation, Greensboro, North Carolina, was appointed by the Richmond Board of Directors to a three-year term on the Charlotte branch board.

R. Glenn Sherrill Jr., president and chief executive officer of SteelFab Inc., Charlotte, North Carolina, was appointed by the Board of Governors to a three-year term on the Charlotte branch board. He has served on the Charlotte branch board since 2017 as a Richmond Fed appointee.

Each Federal Reserve Bank has a nine-member board of directors. Three Class A and three Class B directors are elected to three-year terms by the stockholding member banks, and three Class C directors are appointed to three-year terms by the Board of Governors of the Federal Reserve System. Class A directors represent the stockholding member banks in each Federal Reserve District. Class B and Class C directors represent the public and are chosen with due consideration to the interests of agriculture, commerce, industry, services, labor and consumers.

The boards of directors of the Baltimore and Charlotte branches of the Federal Reserve Bank of Richmond each have seven members. A majority of each branch’s directors are appointed by the Board of Directors of the Federal Reserve Bank of Richmond and the remainder by the Board of Governors of the Federal Reserve System.

The Board of Governors of the Federal Reserve System has appointed the chair and deputy chair of the Board of Directors of the Federal Reserve Bank of Richmond for 2018.  

Margaret G. Lewis, retired president of HCA Capital Division, Richmond, Virginia, was reappointed as chair for 2018. She has served as a Class C director since 2013.

Kathy J. Warden, president and chief operating officer of Northrop Grumman Corporation, Falls Church, Virginia, was reappointed as deputy chair for 2018. She has served as a Class C director since 2015.

The boards of directors of the Federal Reserve Bank of Richmond’s Baltimore and Charlotte branches have elected chairs to serve one-year terms effective January 1, 2018.

Susan J. Ganz, chief executive officer of Lion Brothers Company, Inc., Owings Mill, Maryland, was re-elected chair of the Bank’s Baltimore branch. Ganz has served as a director since 2015 and chair of the Baltimore branch since 2017.

Laura Y. Clark, chief impact officer of United Way of Central Carolinas, Charlotte, North Carolina, was re-elected chair of the Bank’s Charlotte branch. Clark has served as a director since 2014 and chair of the Charlotte branch since 2016.

The Federal Reserve Bank of Richmond also acknowledges the following directors who are completing their service on the Bank’s Richmond and Charlotte boards, and thanks them for their dedicated service:

Calvin G. Butler Jr., chief executive officer of Baltimore Gas and Electric Company, Baltimore, Maryland, who served on the Richmond board since 2017.

Claude Z. Demby, vice president and general manager of Cree Inc., Durham, North Carolina, who served on the Charlotte branch board since 2012.


As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District—including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia—to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.

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