St. Louis Fed Announces Changes to Board of Directors

ST. LOUIS — The Federal Reserve Bank of St. Louis has announced the following changes to its board of directors, effective January 2026:

Lal Karsanbhai, president and CEO of Emerson Electric Co. in St. Louis, has been designated board chair for 2026 by the Federal Reserve Board of Governors.

Gregory A. Heckman, CEO of Bunge in St. Louis, has been designated deputy chair for 2026 by the Board of Governors.

Nina Leigh Krueger, CEO and president of Nestlé Purina PetCare Co. in St. Louis, has been appointed by the Board of Governors to a three-year term.

William B. Dunavant III, chairman and CEO of Dunavant Enterprises Inc. in Memphis, Tenn., has been elected for a three-year term.

Also serving on the board are:
Misty Borrowman, president and CEO of Constitution Bank, National Association in Hillsboro, Ill.; Mardie R. Herndon Jr., current board member and former president and CEO of Paducah Bank in Paducah, Ky.; and Michael Ugwueke, president and CEO of Methodist Le Bonheur Healthcare in Memphis, Tenn.

The St. Louis Fed board of directors is composed of three classes of directors (A, B and C) with three members in each class:

• Class A: Elected by member financial institutions in the St. Louis Fed’s Eighth District to represent the member financial institutions.
• Class B: Elected by member financial institutions in the St. Louis Fed’s Eighth District to represent the public with consideration to the interests of agriculture, commerce, industry, services, labor and consumers.
• Class C: Appointed by the Board of Governors to represent the public with consideration to the interests of agriculture, commerce, industry, services, labor and consumers.

Learn more about the St. Louis Fed’s board of directors.

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 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. View more information about our governance.