PNC Financial Services Group Inc. Chairman and CEO Jim Rohr did not seek re-election to the company's board of directors. This was according to a statement issued by BlackRock Inc's lending subsidiary.
Rohr was elected today for a directorship seat in General Electric Co. He notified PNC that he would not seek another term in the company during the annual meeting held in April. This was according to a filing today of the Pittsburgh based bank. In a separate filing, BlackRock said that Rorh would not pursue a re-election the New York based asset manager's board of directors.
PNC operates as the second largest regional bank in the US. It is also the biggest holder of BlackRock shares with 21% stake, according to a compiled data by Bloomberg. Jim Rohr was succeeded by Bill Demchak as the new CEO for PNC in April.
GE shares fell 0.4% to USD23.76 in Friday afternoon trading. General Motor Corp's businesses range from financial services to infrastructure technology. So far this year, GE's stock had gained 13%.
Join the Conversation