J. Pedro Reinhard has resigned from the board of Royal Bank of Canada, where he served as an independent director.
Reinhard, 70, former chief financial officer from the Dow Chemical Co., joined RBC’s board in 2000. He seemed to be a director at Colgate-Palmolive Co.
A spokesperson for that bank said Reinhard resigned for “personal reasons.”
Another board member, Victor Young, won’t be meaning re-election in the RBC’s annual meeting in Montreal on April 6.
“Vic Young has reached the end of his tenure upon turning 70 years old and therefore, according to our tenure policy, he’ll not be meaning re-election,” Claire Holland, the bank spokesperson, said in an email.
Fourteen directors will stand or re-election to the board of Canada’s largest bank by market capitalization, based on a proxy circular filed this week ahead of the annual meeting.
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