James Hackett, chairman of the board of directors at Fifth Third Bancorp, is stepping down.

Hackett will retire April 19 at the Cincinnati company's annual shareholders meeting, it said in a March 6 regulatory filing.

Hackett has chaired the board of the $142 billion-asset company since April 2014. He had been a member of the board since 2001.

Hackett, the former president and chief executive of Steelcase, a furniture maker in Grand Rapids, Mich., is retiring "to pursue other full-time employment opportunities," the filing said.

Larry Magnesen, a spokesman for Fifth Third, told American Banker, "At some point in time in the future they may name someone new to the board, but for the time being they are going to decrease the size of the board."

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