PITTSBURGH, Jan. 3, 2019 /PRNewswire/ -- The PNC
Financial Services Group, Inc. (NYSE: PNC) today increased the
number of directors on its board to 14 and appointed three new
members. Joseph Alvarado,
Richard Harshman and
Toni Townes-Whitley will join
PNC's board, effective immediately.
Alvarado is the former chairman, president and chief
executive officer of Commercial Metals Company, a Fortune 500
global metals firm, which under his leadership was active in
recycling, manufacturing, fabricating and trading. He has achieved
global experience in the steel, metal processing, energy and
chemical industries. Alvarado earned his master's degree in
Business Administration, Finance from the SC Johnson Graduate
School of Management at Cornell
University and a Bachelor of Arts degree in Economics from
the University of Notre Dame. He will
serve on PNC's Audit Committee and the Compliance Subcommittee of
the Risk Committee.
Harshman is the current chairman and former president and
chief executive officer of Allegheny Technologies Incorporated, a
Pittsburgh-based, global
manufacturer of technically advanced specialty materials and
complex parts and components. He joined the company in 1978 and has
served in a number of key roles, such as chief financial officer
and chief operating officer. Harshman is active on several
non-profit boards and has received a number of professional
accolades including the Most Influential People in Business Award
by the Pittsburgh Post-Gazette in 2011 and the CFO of the
Year Award in the Public Company Category by the Pittsburgh
Business Times in 2008. He was appointed to PNC's Audit
Committee and the Personnel and Compensation Committee.
Townes-Whitley is president, U.S. regulated industries at
Microsoft Corp., a technology company that enables digital
transformation for the era of an intelligent cloud and an
intelligent edge. In this role, she leads Microsoft's U.S. sales
strategy for driving digital transformation across customers and
partners within the public sector and regulated industries.
Townes-Whitley, who received a Bachelor of Arts degree in Economics
from Princeton University, is an
advisor to the Women's Center of Northern
Virginia and a past president of Women in Technology. She
was appointed to the Technology Subcommittee of the Risk
Committee.
"Each of these three new members of PNC's board of directors
have achieved significant leadership experience and business
expertise within different industries and disciplines, and adding
them to our board positions PNC well for continued strength and
growth as our business evolves," said William S. Demchak, PNC's chairman, president
and chief executive officer. "We are committed to intentionally
building diverse, high-performing teams at all levels, and the
addition of these directors ensures that our board continues to
reflect our core value of diversity and inclusion, which makes our
board and our company stronger."
In addition, PNC's board of directors declared a quarterly cash
dividend on the common stock of 95
cents per share. The dividend will be payable Feb. 5, 2019 to shareholders of record at the
close of business Jan. 17, 2019.
The board also declared a cash dividend on the following series
of preferred stocks:
- Series B: a quarterly dividend of 45 cents per share, with a payment date of
March 10, 2019, will be payable the
next business day to shareholders of record at the close of
business Feb. 14, 2019.
- Series O: a semi-annual dividend of $3,375.00 per share ($33.75 per each depositary share, 100 of which
represent one share of Series O preferred stock) will be payable
Feb. 1, 2019 to shareholders of
record at the close of business Jan. 17,
2019.
- Series P: a quarterly dividend of $1,531.25 per share ($.3828125 per each depositary share, 4,000 of
which represent one share of Series P preferred stock) will be
payable Feb. 1, 2019 to shareholders
of record at the close of business Jan. 17,
2019.
- Series Q: a quarterly dividend of $1,343.75 per share ($.3359375 per each depositary share, 4,000 of
which represent one share of Series Q preferred stock) will be
payable March 1, 2019 to shareholders
of record at the close of business Feb. 14,
2019.
The PNC Financial Services Group, Inc. is one of the largest
diversified financial services institutions in the United States, organized around its
customers and communities for strong relationships and local
delivery of retail and business banking including a full range of
lending products; specialized services for corporations and
government entities, including corporate banking, real estate
finance and asset-based lending; wealth management and asset
management. For information about PNC, visit www.pnc.com.
CONTACTS:
MEDIA:
Marcey
Zwiebel
(412) 762-4550
corporate.communications@pnc.com
INVESTORS:
Bryan
Gill
(412) 768-4143
investor.relations@pnc.com
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SOURCE PNC Financial Services Group, Inc.