Michael Masin to Retire from Popular, Inc. Board of Directors
December 23 2011 - 1:53PM
Business Wire
Popular, Inc. (NASDAQ: BPOP) announced today that Michael T.
Masin informed the Board of Directors on December 22, 2011 of his
decision to retire as a director of the Corporation, effective
December 31, 2011. Mr. Masin’s decision was based on his desire to
devote greater time to other professional responsibilities and was
not related to a disagreement with the Corporation over its
operations, policies or practices.
Richard L. Carrion, Chairman of the Board and Chief Executive
Officer of the Corporation stated, “Michael has been a valuable
member of the Board and we are thankful for his service. We were
fortunate to have Michael as a part of our team and wish him the
best in his future endeavors.”
The Corporate Governance and Nominating Committee of the Board
has commenced the process of identifying a new nominee to replace
Mr. Masin. Mr. Masin has served on the Board since 2007 and is a
member of the Corporation’s Compensation, Risk Management and
Corporate Governance and Nominating committees.
Founded in 1893, Popular, Inc. is the leading banking
institution by both assets and deposits in Puerto Rico and ranks
36th by assets among U.S. banks. In the United States, Popular has
established a community-banking franchise providing a broad range
of financial services and products with branches in New York, New
Jersey, Illinois, Florida and California.
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