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 Jan. 1:

Patricia L. Clarke, president and CEO of First National Bank in Raymond, Ill., was elected to a three-year term on the St. Louis Fed’s board of directors.

Daniel J. Ludeman, president and CEO of Concordance Academy of Leadership in St. Louis, was elected to a three-year term on the St. Louis Fed’s board of directors.

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

Rakesh Sachdev, former president and CEO of Sigma-Aldrich Corporation in St. Louis, was named chairman of the St. Louis Fed’s board of directors. Sachdev was appointed to the board in 2014 and served as deputy chair in 2015.

Suzanne Sitherwood, president and CEO of The Laclede Group in St. Louis, was appointed to a three-year term on the St. Louis Fed’s board of directors.

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

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.