CLEVELAND, Jan. 16, 2014 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that Demos Parneros, President, North American Stores and Online of Staples, Inc., has been elected to KeyCorp's Board of Directors.
Parneros has been employed for more than 25 years by Staples, Inc. in various leadership capacities. In 2002, Parneros was appointed President, U.S. Stores. In 2012, Parneros took on additional responsibility for Staples.com and Canada. A member of Staples' executive committee, Parneros' keen focus on operations has helped grow the company from a start-up to the world's largest office products company and second largest internet retailer, with annual sales of over $24 billion.
He received his B.S. from New York University's Stern School of Business.
"Demos Parneros is a strategic addition to KeyCorp's Board," said Beth Mooney, chairman and CEO of KeyCorp. "His retail industry experience in the ever-changing world of mobile, digital and brick and mortar will serve Key well as we continue to build momentum and execute our relationship-based strategy."
The election increases the size of KeyCorp's Board of Directors to 13 members.
KeyCorp was organized more than 160 years ago and is headquartered in Cleveland, Ohio. One of the nation's largest bank-based financial services companies, Key has assets of approximately $91 billion. Key provides deposit, lending, cash management and investment services to individuals, small and medium-sized businesses under the name of KeyBank National Association. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.