BBCN Bancorp, Inc. (BBCN)

[56Chevy]

BBCN President & CEO Alvin Kang to Step Down January 31, 2013

Date : 01/14/2013 @ 8:00PM
Source : Business Wire
Stock : Bbcn Bancorp, Inc. (MM) (BBCN)
Quote : $12.03 -0.04 (-0.33%) @ 8:00PM

BBCN Bancorp, Inc. (NASDAQ:BBCN) (the “Company) today announced that Alvin D. Kang, 68, will step down from his positions as President and Chief Executive Officer and as a Director of the Company and its wholly owned subsidiary, BBCN Bank (the “Bank”), effective as of the close of business on January 31, 2013. The Company’s Board of Directors will retain an executive search firm to initiate a formal search for a new chief executive.

Until a successor is appointed, the Board of Directors has established an Executive Council to carry out the responsibilities of the chief executive. Executive Vice President and Chief Operating Officer, Bonita I. Lee, 50, will be given the additional title of Acting President and will lead the Executive Council. The Executive Council membership will also include Executive Vice President and Chief Financial Officer Philip E. Guldeman, 67, and Executive Vice President and Chief Commercial Banking Officer Kyu S. Kim, 51.

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