8-KLeadership Changes

PNC FINANCIAL SERVICES GROUP, INC. 8-K Report, Executive Changes (Jan 4, 2018)

Filed January 4, 2018For Securities:PNC

Summary

PNC Financial Services Group, Inc. announced a strategic expansion of its Board of Directors, increasing its size from 14 to 16 members with the appointment of two new directors, Linda R. Medler and Martin Pfinsgraff, effective January 4, 2018. Both appointees have been deemed independent by the New York Stock Exchange, bringing valuable expertise in cybersecurity strategy and financial regulation respectively. Ms. Medler, a retired Brigadier General from the U.S. Air Force and CEO of LA Medler and Associates, LLC, brings significant experience in cyber strategy consulting, particularly for commercial clients and the U.S. Department of Defense. Her appointment to the Risk Committee and its Technology Subcommittee underscores PNC's focus on cybersecurity and risk management. Mr. Pfinsgraff, formerly the Senior Deputy Comptroller for Large Bank Supervision at the Office of the Comptroller of the Currency, adds deep regulatory and financial oversight experience. His appointment to the Audit Committee and Risk Committee will be instrumental in strengthening governance and risk oversight. Both new directors have also been appointed to the board of PNC Bank, National Association.

Key Highlights

  • 1PNC expanded its Board of Directors from 14 to 16 members.
  • 2Linda R. Medler and Martin Pfinsgraff were appointed as new directors.
  • 3Both new directors have been determined to be independent by the NYSE.
  • 4Linda R. Medler brings expertise in cyber strategy and consulting.
  • 5Martin Pfinsgraff offers extensive experience in large bank supervision from the OCC.
  • 6Ms. Medler was appointed to the Risk Committee and Technology Subcommittee.
  • 7Mr. Pfinsgraff was appointed to the Audit Committee and Risk Committee.

Frequently Asked Questions

PNC expanded its Board of Directors to add new expertise, specifically appointing Linda R. Medler for her cybersecurity strategy experience and Martin Pfinsgraff for his deep regulatory and financial oversight background. This expansion aims to strengthen governance and risk management.

Linda R. Medler, a retired Brigadier General and CEO of a cyber strategy consulting firm, brings extensive knowledge in cybersecurity. Martin Pfinsgraff served as the Senior Deputy Comptroller for Large Bank Supervision at the Office of the Comptroller of the Currency, providing significant regulatory and financial oversight expertise.

Linda R. Medler will serve on the Risk Committee and the Technology Subcommittee of the Risk Committee. Martin Pfinsgraff will serve on the Audit Committee and the Risk Committee.

Yes, the Board determined that both Linda R. Medler and Martin Pfinsgraff are independent under the director independence standards established by the New York Stock Exchange.