---
schema_version: "secwatch.filing_event.v1"
accession: "0000035527-22-000197"
form_type: "8-K"
ticker: "FITB"
cik: "0000035527"
company_name: "FIFTH THIRD BANCORP"
filed_at: "2022-06-17T23:59:59+00:00"
generated_at: "2026-06-25T01:01:48.196748+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Timothy N. Spence to become Fifth Third CEO on July 5, 2022; Carmichael becomes Executive Chairman

## Summary
- Spence, currently President, succeeds Greg D. Carmichael as CEO effective July 5, 2022.
- Carmichael will become Executive Chairman of the Boards of Fifth Third Bancorp and Fifth Third Bank.
- Spence elected as Director of both entities effective July 5, 2022.
- Base salary increased to $1,000,000; target annual incentive $1.75M; target LTI $5M for 2022.
- Granted $3M in long-term equity: 50% Performance Shares, 35% RSUs, 15% SARs.

## SEC filing metadata
- accession: 0000035527-22-000197
- form_type: 8-K
- ticker: FITB
- cik: 0000035527
- company_name: FIFTH THIRD BANCORP
- filed_at: 2022-06-17T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/35527/000003552722000197/0000035527-22-000197-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/35527/000003552722000197/fitb-20220613.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000035527-22-000197
- JSON: https://secwatch.observer/filing/0000035527-22-000197.json
- Plain text: https://secwatch.observer/filing/0000035527-22-000197.txt

## Key facts
- Executive change
  Timothy N. Spence was appointed as Chief Executive Officer at FIFTH THIRD BANCORP.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Timothy N. Spence will become the new Chief Executive Officer of Fifth Third Bancorp and Fifth Third Bank, National Association effective July 5, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/35527/000003552722000197/0000035527-22-000197-index.htm
- Executive change
  Timothy N. Spence was elected as Director at FIFTH THIRD BANCORP.
  - Action: elected
  - Role: Director
  source text: Additionally, on June 13, 2022, Mr. Spence was elected as a Director of Fifth Third Bancorp and Fifth Third Bank, National Association effective July 5, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/35527/000003552722000197/0000035527-22-000197-index.htm
- Executive change
  Greg D. Carmichael changed role as Executive Chairman at FIFTH THIRD BANCORP.
  - Action: retired as CEO and became
  - Role: Executive Chairman
  source text: Upon his retirement as Chief Executive Officer effective July 5, 2022, Mr. Carmichael will become the Executive Chairman of the Boards of Directors of Fifth Third Bancorp and Fifth Third Bank, National Association.
  evidence_url: https://www.sec.gov/Archives/edgar/data/35527/000003552722000197/0000035527-22-000197-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.