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 handed the reins to William Demchak. Rohr kept his role as chairman, a position he has held since 2001.