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PNC Financial Services Group will promote William Demchak to be its next chief executive, awarding him a long-expected inheritance from current CEO James Rohr.
February 14 -
Last week's move adding retail banking and asset management to the list of areas overseen by Bill Demchak cemented his status as heir apparent to PNC chief James Rohr.
September 10 -
After 10 years of helping to build up expectations at PNC, Bill Demchak will have to surpass them after he becomes CEO this spring.
February 20 -
The Pittsburgh company's incoming chief executive, Bill Demchak, promised to follow the strategy laid out by current CEO Jim Rohr and avoid a race to the bottom for commercial loans.
April 17
James Rohr plans to leave the board of directors of PNC Financial Services (PNC) in April, one year after stepping down as chief executive.
Rohr, who is the board's executive chairman, will not seek reelection at the company's next annual meeting, the Pittsburgh company said Friday in a regulatory filing. Rohr was named to the board of General Electric on Friday, and he told regulators that, in connection with requirements of the Depository Institution Management Interlocks Act, he would not seek election to the PNC board, the filing states.
His exit had been expected. When announcing his retirement as CEO, Rohr said he intended to retire as chairman of the $295 billion-asset company in 2014.
Rohr was PNC's CEO from 2000 through April of this year, when he
