Tycoon Lucio Tan and wife Carmen relinquished their directorships in Philippine National Bank (PNB) as part of the bank’s commitment to good governance and to promote diversity in the board composition.
PNB said in a disclosure to the stock exchange its board of directors designated Tan as chairman emeritus, while his wife would join the bank’s advisory board.
The board of directors and the management of PNB extended their heartfelt appreciation to Tan for his exemplary stewardship spanning over two decades.
Tan supervised the successful completion of the PNB-Allied Bank merger in 2013, which elevated PNB to its current status as one of the country’s leading privately-owned commercial banks.
Under his leadership, PNB expanded its global footprint, catering to the financial needs of millions of Filipinos overseas.
Meanwhile, PNB also reported the election of Atty. Eusebio Tan and Chester Luy as new members of its board.
PNB said these appointments are a significant step in aligning the bank’s leadership to better serve our customers and stakeholders.
They also reinforce PNB’s commitment to achieving long-term objectives, ensuring sustained profitability under the guidance of a highly experienced and professional leadership team.
“I am confident that having directors Luy and Tan in our board further strengthens our roster of leaders. PNB is now on its 107th year of serving Filipinos,” PNB president Florido Casuela said.