PNC Financial Services Group, Inc. (PNC) has announced the departure of its President, Michael Lyons. Lyons is set to join Fiserv as President and Chief Executive Officer-elect. This change will be effective from January 27, as confirmed by Fiserv, a leading provider of payments and financial services technology solutions, in an independent statement.
Michael Lyons, who has been with PNC since 2011 and was appointed President last year, will now assume his new role at Fiserv. In this role, he will report to Frank Bisignano, who will continue to serve as Fiserv's Chairman and CEO until June 30 or pending confirmation by the U.S. Senate as Commissioner of the Social Security Administration.
Upon Lyons' inauguration as CEO, Doyle Simons, the Lead Independent Director at Fiserv, will take on the role of non-executive chairman of the Board.
In pre-market trading, PNC Financial Services shares are experiencing a slight decline, down 0.24% at $195.82 on the New York Stock Exchange. Meanwhile, Fiserv's shares are also slightly down, by 0.50%, at $208.41 on the same exchange.
