A day after being named the new chairman and chief executive officer of Union Planters Corp., Jackson W. Moore said a sale of the Memphis bank should not be discounted.

"The company is committed to doing what's best for shareholders over the long term," Mr. Moore said in an interview Tuesday. "Whether that means independence or nonindependence is going to be determined by the ongoing changes in the industry." The appointment of Mr. Moore, 51, was announced Monday night by the Union Planters board of directors. He succeeds Benjamin W. Rawlins Jr., who died at his home last week after having a heart attack. He was 62 and had been chief executive for 16 years.

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