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Published: Wednesday, 1/17/2007

CEO to be replaced at Fifth Third Bancorp

Kabat Kabat

CINCINNATI - Kevin Kabat will become chief executive officer of Fifth Third Bancorp at the shareholders meeting April 17, taking over from George Schaefer, Jr., the bank holding company said yesterday.

Mr. Schaefer, 61, will continue as chairman of the board of directors and the board's executive committee in a non-executive capacity.

Fifth Third, the 10th-biggest U.S. bank by assets, has struggled to boost profits after a series of acquisitions.

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