PNB’s Mier set to retire next month

MANILA, Philippines - The Philippine National Bank (PNB) will announce its new president next month to replace Omar Mier, who retired after 12 years of service.

Mier, in a text message to reporters, hinted that his replacement “will be selected during the organizational board meeting after the stockholders meeting.”

PNB  would have its annual stockholders’ meeting on May 27.

In a special meeting April 11, the PNB board approved the nominees for the board of Directors for 2014-2015. They are Florencia Tarriela; Felix Enrico Alfiler; Florido Casuela; Joseph Chua; Leonilo Coronel; Reynaldo A. Maclang; Estelito Mendoza; Federico Pascual; Cecilio Pedro; Washington SyCip; Harry Tan; Lucio Tan; Lucio Tan Jr.; Michael Tan and Deogracias Vistan.

Tarriela, Alfiler, and Vistan were nominated for re-election as independent directors.

Coronel, Pascual, and Cecilio Pedro were likewise nominated as independent directors, subject to the approval of regulators.

Mier’s resignation will take effect upon the appointment of a new bank president.

“The board expressed its appreciation for his 12 years of dedicated and fruitful service to the bank, leading PNB from its period of rehabilitation to the merger with Allied Banking Corporation. His leadership has been pivotal in PNB’s resurgence to becoming the bigger and stronger bank it is today,” PNB said.

The board also approved the appointment of Manuel C. Bahena Jr. as the Chief Legal Counsel of the bank.