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Commerce Bancshares, Inc. announces appointment of Karen Daniel to Board of Directors

Karen Daniel St. Louis, MO – February 1, 2018 – Commerce Bancshares, Inc., announced it appointed Karen Daniel, chief financial officer of Black & Veatch, as a member of its board of directors at its January 26 board meeting. Daniel fills a vacancy created by the resignation of James. B. Hebenstreit, and will serve Hebenstreit’s remaining term and position on the board until 2020. Daniel will also serve on the Audit and Risk Committee of the board.

“We are pleased to welcome Karen to the board. She is a respected industry and community leader and a seasoned financial professional,” said Commerce Bancshares Chairman and CEO David Kemper. “We look forward to the contributions Karen will make to our continued growth and financial performance. We also thank Jim for his valuable counsel over the many years he served on the board.”

Daniel graduated from Northwest Missouri State University and received her master’s degree in accounting from the University of Missouri-Kansas City. She spent 11 years with the certified public accounting firm of Peat Marwick (KPMG), rising to Senior Audit Manager. She joined Black & Veatch in 1992 with the internal audit group, was named chief financial officer in 1999 and joined the Black & Veatch board of directors in 2006. In her role as CFO, Daniel is responsible for developing and executing strategies, and as president of Black & Veatch’s Global Finance & Technology Solutions Division, leads the global finance and IT organization.

Daniel serves on numerous public and philanthropic boards: Snap-on, Inc., Blue Cross and Blue Shield of Kansas City and Northwest Missouri State University Foundation, and recently completed her tenure as the 2017 Chair of the KC Chamber Board of Directors. Daniel also served as Vice Chair of former President Obama’s Advisory Council on Doing Business in Africa.

About Commerce Bancshares, Inc.
Commerce Bancshares, Inc. (NASDAQ: CBSH), is a regional bank holding company with $24.8 billion in assets, as of December 31, 2017. For more than 150 years, Commerce Bank, a subsidiary of Commerce Bancshares, Inc., has been meeting the financial services needs of individuals and businesses. Commerce provides a full range of financial products to consumer and commercial customers, including personal banking, lending, mortgage banking, wealth management, brokerage and capital markets services. Commerce operates in more than 330 locations in the central United States and has a nationwide presence in the commercial payments industry.

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