Teresa White
SYNOVUS FINANCIALAbout Teresa White
Teresa White (age 58) is an independent director of Synovus Financial Corp. (SNV), serving since 2019; she is President Emeritus of Aflac U.S. and holds a BBA from the University of Texas at Arlington and an MS in Management from Troy State University . On the SNV board, she serves on the Compensation & Human Capital Committee and the Risk Committee, where the Board has designated her a “risk committee expert” under SEC rules, underscoring deep risk oversight credentials . The Board has affirmatively determined Ms. White is independent; in 2024 the Board met 12 times and all directors attended at least 75% of meetings (average attendance 96%) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Aflac U.S. | President Emeritus | Jan 2023–present | Senior advisor/emeritus stature following presidency of Aflac U.S. |
| Aflac U.S. | President | Oct 2014–Jan 2023 | Led marketing, sales, IT, operations, comms, finance; oversaw ~5,000 employees and nationwide distribution |
| Aflac U.S. | Chief Operating Officer | Jul 2013–Sep 2014 | Enterprise operations leadership |
| Aflac U.S. | EVP & Chief Services Officer | Oct 2012–Jul 2013 | Shared services leadership |
| Aflac U.S. | EVP & Chief Administrative Officer | Mar 2008–Oct 2012 | Administrative/people/process leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Landstar System, Inc. (public) | Director | Current | Nominating & Corporate Governance; Audit; Compensation; Safety & Risk; Strategic Planning |
| Georgia Chamber Board of Governors | Board member | Past/Current as disclosed | Community/business leadership |
| NeighborWorks Columbus; AHIP | Board service | Past/Current as disclosed | Community and industry engagement |
Board Governance
- Committee assignments (SNV): Compensation & Human Capital Committee (member) and Risk Committee (member); designated Risk Committee “expert” by the Board .
- Independence: Determined independent by the Board as of Jan 1, 2025 .
- Attendance: Board met 12 times in 2024; all directors attended ≥75% (average 96%); all then-current directors attended the 2024 annual meeting .
- Governance context: CHCC comprised entirely of independent directors and uses an independent consultant (Meridian) with no conflicts identified; CHCC interlocks—none in 2024 .
- Shareholder voice signal: 2024 Say-on-Pay support exceeded 97% of votes cast .
Fixed Compensation (Director)
| Component | Amount/Terms | Source |
|---|---|---|
| Annual cash retainer (director) | $75,000 | |
| Committee retainer – Risk Committee member | +$15,000 | |
| Committee retainer – CHCC member | +$12,500 | |
| Teresa White – Fees earned or paid in cash (2024 service period) | $102,500 |
Notes: SNV compensates directors via retainers (no per-meeting fees); members with added responsibilities receive higher retainers commensurate with time and oversight load .
Performance Compensation
Directors are not eligible for performance-based cash or equity tied to company financial metrics; equity compensation is time-based RSUs intended to align directors with long-term shareholder value . No director stock options or performance share units are disclosed for directors .
| Award Type | Grant Date | Units | Grant Date Fair Value | Vesting |
|---|---|---|---|---|
| RSUs (director retainer) | Apr 23, 2024 | 2,988 | $110,000 | Fully vests upon earlier of 3 years from grant or reaching mandatory retirement age per guidelines |
Director Compensation (2024)
| Name | Fees Earned or Paid in Cash ($) | Stock Awards ($) | All Other Comp ($) | Total ($) |
|---|---|---|---|---|
| Teresa White | 102,500 | 110,000 | — | 212,500 |
| Citations: |
Other Directorships & Interlocks
- Current public company board: Landstar System, Inc. (committees: NCG, Audit, Compensation, Safety & Risk, Strategic Planning) .
- CHCC interlocks: None—no SNV executive served on another company’s board/compensation committee where that company’s executives served on SNV’s Board/CHCC during 2024 .
Expertise & Qualifications
- Executive leadership and P&L: Former President of Aflac U.S., overseeing sales, distribution, IT, operations, finance, and communications .
- Risk oversight: Designated SNV Risk Committee “expert” by the Board .
- Governance credentials: NACD Directorship Certified .
- Education: BBA (UT Arlington); MS in Management (Troy State University) .
- Recognitions: Multiple leadership awards (e.g., Black Enterprise’s Most Powerful Women in Business) .
Equity Ownership
| As of | Common Shares Beneficially Owned | % Outstanding | RSUs (non-vested/settled) | Total (Shares + RSUs) |
|---|---|---|---|---|
| Jan 31, 2025 | 10,707 | <1% | 9,638 | 20,345 |
| Citations: |
Additional alignment:
- Director stock ownership guidelines: 5x annual retainer over time; 1x within 3 years; all directors in compliance as of Dec 31, 2024 .
- Policies prohibit hedging, pledging, and short sales by directors and executive officers .
Related-Party Transactions / Conflicts
- Ordinary-course banking and services with directors/their affiliated organizations occurred on market terms; the Board determined none constituted a material relationship for independence—relationships met categorical independence standards .
- Ms. White is independent; no material related-party exposure disclosed; CHCC advisor (Meridian) determined to have no conflicts .
Governance Assessment
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Strengths for investor confidence:
- Independent director with explicit Board-designated risk expertise; active on Risk and CHCC, aligning with core bank risk and pay oversight .
- Clear ownership alignment via equity retainer and compliance with robust 5x retainer guidelines; hedging/pledging prohibited .
- No material related-party transactions; independence affirmed .
- High Board engagement culture; all directors ≥75% attendance and strong Say-on-Pay support (97%), indicating positive shareholder sentiment toward compensation governance .
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Potential watch items:
- Multiple external committee roles at Landstar increase time demands; however, SNV reports strong attendance overall, and no interlocks or conflicts disclosed .
- Ordinary-course relationships with directors’ organizations should continue to be monitored; Board determined immaterial as of 2024 .
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Net view: Ms. White enhances Board effectiveness through seasoned financial services leadership, risk oversight credentials, and compensation committee service, with no disclosed red flags on independence, attendance, or related-party transactions .