State Street Corporation announced that John F. Woods will join the company as Chief Financial Officer, effective no later than August 25, 2025. Woods currently serves as CFO and Vice Chair at Citizens Financial Group, where he has overseen key financial functions since 2017. He brings prior experience from MUFG and JPMorgan Chase.

Under his new agreement with State Street, Woods will receive:

- A $750,000 base salary and a target 2025 incentive of $6.75 million
- A one-time $1 million transition payment
- Buy-out compensation totaling $15 million to replace forfeited Citizens awards, including:
- $3 million in cash,
- $8.5 million in deferred stock (vesting in 2027 and 2028),
- $3.5 million in performance-based restricted stock units (vesting in 2028)

His agreement also includes standard executive benefits and restrictive covenants like non-solicitation and non-compete clauses.