Summary
PNC Financial Services Group, Inc. (PNC) filed an 8-K on December 19, 2017, to report a key change in its Board of Directors. Kay Coles James has announced her intention to resign from the Board, with her departure set to be effective after the Board meeting on February 15, 2018. Ms. James has been a director since 2006 and is stepping down due to a change in her principal occupation. While this is a change in board composition, it is not expected to have an immediate material impact on the company's operations or financial performance, as it relates to a governance matter.
Key Highlights
- 1Kay Coles James has submitted her resignation from the PNC Board of Directors.
- 2Her resignation is effective after the Board meeting on February 15, 2018.
- 3The reason for resignation is a change in Ms. James' principal occupation.
- 4Ms. James has served on the Board since 2006, indicating a long tenure.
- 5This filing is an Item 5.02(b) disclosure, pertaining to director departures.
- 6The event date is December 18, 2017, and the filing date is December 19, 2017.