LT Group Inc. Chairman and Chief Executive Officer Lucio Tan has resigned as a director of Philippine National Bank (PNB) and was appointed as the bank's chairman emeritus, a newly created position.
In a disclosure, PNB said its board had approved the resignations of Tan and his wife, Carmen, as directors, effective Friday. Lucio and Carmen have been members of the board since Dec. 6, 1999 and May 31, 2016, respectively.
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