Daryl Byrd is stepping down as chairman of First Horizon in Memphis, Tenn.
The $88.7 billion-asset company disclosed in a regulatory filing that Byrd will resign on July 1 in accordance with the provisions of his employment agreement and its bylaws.
Byrd, who was CEO of Iberiabank when it was sold to First Horizon in 2020, was required to retire as an executive, employee and director on the merger’s second anniversary.
Bryan Jordan, First Horizon’s president and CEO, will succeed Byrd as chairman.
First Horizon agreed in February to be sold the TD Bank Group for $13.4 billion in a deal that is expected to close this fall.