After five years of nearly constant restructuring, KeyCorp revamped the very top of its organization on Thursday, naming as its new chief executive the man who has headed its latest profit-improvement initiative.

Robert W. Gillespie, chairman and chief executive officer since 1995, announced that he plans to retire Feb. 1 as CEO and in mid-May as chairman in mid-May. His successor will be Henry L. Meyer 3d, president, who recently concluded a companywide operations review.

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