MutualFundWire.com: PNC Head to Retire

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Thursday, February 17, 2000

PNC Head to Retire

Thomas O'Brien, the chairman and chief executive officer of Pittsburgh's PNC Bank, will step down as CEO on May 1, 2000 and hand the reins over to James Rohr, the president and chief operating officer.

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O'Brien will remain chairman until May 1, 2001 when Rohr will also take over that position. Rohr will retain the title of president and Walter Gregg Jr. will continue as PNC's vice chairman.

O'Brien, 63, joined the company in 1962 and was named chief executive officer of PNC in 1985. Rohr, 51, joined the company in 1972, and was named vice chairman of PNC in 1989, president in 1992 and chief operating officer in 1998.

"During his many years in our office of the chairman, Jim has clearly demonstrated his ability to lead this company," said O'Brien in a statement. "Today's announcement is consistent with the succession plan that the board and I developed over the past few years."

A PNC spokesperson said that O'Brien would be pursuing several community projects in Southwestern Pennsylvania after his retirement.

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