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), the companies said.
Rohr, who was elected today to the board of General Electric Co. (GE), 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 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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