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BUSINESS
BB&T chief executive retiring at end of the year
WINSTON-SALEM, N.C. -- Regional bank BB&T Corp. said Wednesday its chief executive, John Allison, will retire on Dec. 31.
Kelly King, BB&T's chief operating office will replace Allison as chief executive and president. King, 59, has served as BB&T's second-highest manager since 2004.
Allison, 60, will continue to serve as chairman of the bank's board of directors until Dec. 31, 2009.
King replacing Allison is part of a five-year executive management transition plan that BB&T instituted in 2003. BB&T said it will name King's successor at a later date.
