Management ChangeJul 23, 2026, 08:12 AM
Popular Announces CEO Retirement, Appoints Jorge J. García as New CEO
AI Summary
Popular, Inc. announced that Javier D. Ferrer will retire as President and CEO, effective August 31, 2026. He will be succeeded by Jorge J. García, currently Executive Vice President and CFO, effective September 1, 2026. In connection with these changes, Lidio V. Soriano will become Executive Vice President and CFO, and Luis F. Sousa will be appointed Executive Vice President and Chief Risk Officer, both effective September 1, 2026. Ferrer will receive a $1,620,000 cash award and a $2,600,000 equity award, and will provide consulting services for 12 months at $100,000 per month to facilitate the transition.
Key Highlights
- Javier D. Ferrer to retire as President and CEO, effective August 31, 2026.
- Jorge J. García appointed President and CEO, effective September 1, 2026.
- Lidio V. Soriano appointed Executive VP and CFO, effective September 1, 2026.
- Luis F. Sousa appointed Executive VP and Chief Risk Officer, effective September 1, 2026.
- Ferrer to receive a $1,620,000 short-term incentive cash award.
- Ferrer to receive a $2,600,000 equity award in restricted stock.
- Ferrer to provide consulting services for 12 months at $100,000 per month.
Price Impact
More from BPOP