PNC Financial Services Group Inc. Executive Chairman and former Chief Executive Officer Jim Rohr won’t seek re-election to board of directors for the lender or for BlackRock Inc. (BLK:US), the companies said.
Rohr, who was elected today to the board of General Electric Co. (GE:US), notified PNC that he doesn’t plan to seek another term at the April annual meeting, the Pittsburgh-based bank said today in a filing. He also won’t pursue re-election to BlackRock’s board at its meeting in May, the New York-based asset manager said in a separate filing.
PNC, the second-biggest U.S. regional bank, is the largest holder (BLK:US) of BlackRock shares with a 21 percent stake, according to data compiled by Bloomberg. Bill Demchak succeeded Rohr as PNC’s CEO in April.
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