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Lewis Hay III and Mayo A. Shattuck III Join Capital One Board of Directors
Experienced Business Leaders Fill Two Newly Created Seats as Independent,
Outside Directors on the Capital One Board
MCLEAN, Va., Oct. 27 /PRNewswire-FirstCall/ -- Capital One Financial
Corporation today announced that Lewis Hay III, Chairman, President and Chief
Executive Officer of FPL Group, Inc. , and Mayo A. Shattuck III, Chairman,
President and Chief Executive Officer of Constellation Energy Group have been
appointed to the company's Board of Directors. Hay and Shattuck will fill two
newly created seats on the Board and will be submitted to Capital One
stockholders in April for re- election.
"We are delighted and honored to have the experience and business acumen that
Lew and Mayo offer to our Board," said Richard D. Fairbank, Chairman and Chief
Executive Officer of Capital One. "Both Lew and Mayo bring strong backgrounds
in strategy, finance and operations and the perspective of a sitting Chief
Executive Officer of a Fortune 500 company. They will be a tremendous asset to
our board and our management team."
Hay became chairman of FPL Group in 2002, following his appointment as president
and CEO in June 2001. He joined FPL Group in 1999 as chief financial officer
and was promoted to president of FPL Energy in March 2000. FPL Group is one of
the nation's largest electric companies and is the parent of Florida Power &
Light Company, which serves 8 million people in Florida. Its wholesale power
generation business, FPL Energy, operates power plants in more than 20 states.
Before joining FPL Group, Hay was executive vice president and CFO of U.S.
Foodservice, where he helped build the company from $1 billion in sales in 1991
to more than $6 billion in sales in 1999. Prior to that, he was partner and
senior vice president at Mercer Management Consulting where he led the firm's
Washington, D.C.-based strategy practice, assisting Fortune 100 companies in
developing business strategies and execution plans.
Hay serves on the board of directors of Harris Corporation and the Institute of
Nuclear Power Operations (INPO), which encompasses all U.S. commercial nuclear
operating organizations. He is a member of the Business Board of Advisors at
Carnegie Mellon University's Graduate School of Industrial Administration, a
trustee of the Benjamin School and a member of the Florida Council of 100.
Shattuck was appointed President and Chief Executive Officer of Constellation
Energy Group in 2001 and was appointed Chairman of the Board in July 2002.
Prior to joining Constellation Energy, Shattuck was with Deutsche Bank where he
served as Chairman of the Board of Deutsche Banc Alex. Brown and Global Head of
the Investment Banking Division.
Shattuck also serves as a Director of Constellation Energy Group, Inc. and Gap
Inc. He is formerly a member of the Board of Directors of Deutsche Bank's U.S.
Bank boards, which are Deutsche Bank Trust Corporation and Deutsche Bank Trust
Company Americas.
About Capital One
Headquartered in McLean, Virginia, Capital One Financial Corporation
(http://www.capitalone.com/) is a holding company whose principal subsidiaries,
Capital One Bank and Capital One, F.S.B., offer consumer lending products and
Capital One Auto Finance, Inc., which offers auto loan products. Capital One's
subsidiaries collectively had 46.4 million managed accounts and $67.3 billion in
managed loans outstanding as of September 30, 2003. Capital One, a Fortune 500
company, is one of the largest providers of MasterCard and Visa credit cards in
the world. Capital One trades on the New York Stock Exchange under the symbol
"COF" and is included in the S&P 500 index.
DATASOURCE: Capital One Financial Corporation
CONTACT: Paul Paquin, V.P., Investor Relations, +1-703-720-2456, or
Tatiana Stead, Director, Corporate Media, +1-703-720-2352, both of Capital One
Financial Corporation
Web site: http://www.capitalone.com/