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Al-Shaabi appoints a new financial director

Al-Shaabi appoints a new financial director

Board of Directors of Popular, Inc. (NASDAQ: BPOP) Announcement of appointment Jorge J. Garcia as new Chief Financial Officer (CFO) From the banking conglomerate, which will begin its duties in April next year, according to a report before the meeting Securities and Exchange Commission (secondin English).

Currently, the accountant has been the corporate controller and director of accounting for Popular since 2012. Additionally, around 2009, Garcia served as vice president big and Director of Finance and Accounting at Banco Popular, a subsidiary of its banking parent company.

Garcia’s promotion comes after Carlos J. Vasquez announced – on December 6th – that he would retire after a decade as Popular’s CFO. Vazquez’s retirement will take effect on March 31, 2024.

When referring to who will replace him, Vasquez noted in a written statement that he is “a committed leader, of great character and highest quality, who will continue to contribute to the success of our organization in the coming years.”

As part of the transitional process, BPOP terminated Vazquez’s contract, so that after his retirement, he became the civil engineer, Graduated from Rensselaer Polytechnic Institute and Harvard Business School, Providing consulting services for one year to “facilitate the transition of responsibilities” to the new CFO. For this purpose, Vasquez will receive a monthly salary of $32,000 during the term of the agreement, according to the document.

For his part, President and CEO of BPOP, Ignacio Alvarez, thanked the work done by Vazquez over more than 25 years in the banking group, and attributed to him part of the current financial success of the institution.

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“Carlos (Vasquez) has contributed greatly to our financial success.”“Alvarez noted. “On behalf of everyone at Popular, I want to express our gratitude to Carlos for more than 25 years of service, from his strong leadership during difficult economic times to our current strong business and financial performance.”He completed it.

Meanwhile, Alvarez expressed confidence in the appointment of Garcia as the new CFO of Popular Bank, ensuring that he will maintain the bank’s sustainability in the future.

“Jorge (Garcia) has worked alongside Carlos for many years to build a strong finance team and has been instrumental in creating a culture of collaboration to advance our strategic priorities.”According to the popular leader.

According to the SEC filing, Garcia will earn an annual base salary of $590,000 in his new position.

Meanwhile, to fill the vacancy left by Garcia, Popular has appointed Denisa M. Rodriguez Adorno as the company’s controller and director of accounting.who will receive an annual base salary of $320,000.

Since 2018, Rodriguez Adorno has served as Vice President big And the Auditor General of the People’s Republic. Previously, he worked as a CPA for more than a decade PricewaterhouseCoopers LLP In various situations.