Comerica CEO pledges improvements amid activist pressure

Group 1 - HoldCo Asset Management, owning 1.8% of Comerica stock, has urged the bank to consider selling itself to a larger institution, citing "disastrous decisions" and "objectively poor performance" [3] - Potential buyers suggested by HoldCo include PNC, Fifth Third, and Huntington, with plans to nominate five directors to Comerica's board if a sale is not pursued [3] - Comerica executives are committed to improving performance and enhancing profitability, emphasizing their strong balance sheet and strategic positioning [4][5] Group 2 - CEO Curt Farmer indicated that Comerica is reviewing expenses, particularly in real estate, headcount, technology, and third-party services, to improve efficiency [6] - The management's top priority is to protect and grow shareholder value, with a focus on execution and accountability [5][6] - Discussions with long-term shareholders reveal recognition of the need for improved performance metrics while acknowledging positive aspects of Comerica [5]