St. Louis Fed Announces Changes to Board of Directors

ST. LOUIS - The Federal Reserve Bank of St. Louis announced the following changes to its board of directors, effective April 7:

Kathleen M. Mazzarella, chairman, president and CEO of Graybar Electric Company Inc. in St. Louis, was named chair of the St. Louis Fed’s board of directors. Mazzarella was appointed to the board in 2015 and previously served as deputy chair.

Suzanne Sitherwood, president and CEO of The Laclede Group in St. Louis, was named deputy chair of the St. Louis Fed’s board of directors. Sitherwood was appointed to the board in 2016.

The change in board leadership is a result of former chair Rakesh Sachdev vacating his position as chair due to his new role as CEO of Platform Specialty Products Corp., in West Palm Beach, Fla., which is located outside the Eighth Federal Reserve District.

Also serving on the board of directors for the Federal Reserve Bank of St. Louis are: Patricia L. Clarke, president and CEO of First National Bank of Raymond in Raymond, Ill.; D. Bryan Jordan, chairman, president and CEO of First Horizon National Corp., in Memphis, Tenn.; Daniel J. Ludeman, president and CEO of Concordance Academy of Leadership in St. Louis; Cal McCastlain, member at Dover Dixon Horne PLLC in Little Rock, Ark.; John N. Roberts III,president and CEO of J.B. Hunt Transportation Services Inc. in Lowell, Ark.; and Susan S. Stephenson, co-chairman and president of Independent Bank in Memphis, Tenn.

The St. Louis Fed is a corporation chartered under the Federal Reserve Act, and is governed by a board of directors, whose nine members provide oversight of Bank management. Members of the board of directors of the St. Louis Fed and the advisory boards of its three branches in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn., are familiar with the economic and credit conditions of their respective regions. Their observations – along with the economic data and information gathered and analyzed by St. Louis Fed staff – help ensure that conditions of Main Street America are represented in Federal Open Market Committee deliberations in Washington, D.C. Information about our governance can be found at https://www.stlouisfed.org/about-us/our-leadership/bank-governance. For a listing of all directors, see https://www.stlouisfed.org/about-us/our-leadership/board-of-directors.