Consing to succeed Montinola as BPI president

At a meeting held last December 12, 2012, the Board of Directors of Bank of the Philippine Islands (BPI) approved a succession plan recommended by its Nomination Committee and Personnel and Compensation Committee. Cezar P. Consing  will be nominated to succeed Aurelio R. Montinola III as President and CEO at the next organizational meeting of the Board immediately following the stockholders’ meeting scheduled on April 18, 2013.  This movement is in line with the traditional retirement practices in BPI and forms part of the normal succession process.