Popular Inc. CEO Ignacio Alvarez to retire June 30, 2025; Javier Ferrer appointed successor from July 1

POPULAR, INC.

CEO Ignacio Alvarez retires effective June 30, 2025; will provide consulting for 6 months at $47k/month.
Javier Ferrer, current President & COO, appointed President and CEO effective July 1, 2025.
Ferrer's base salary set at $1.05M; eligible for 135% short-term cash incentive and 300% long-term equity.
Board size reduced from 13 to 11 directors after Alvarez and Diercksen not standing for re-election at May 2025 annual meeting.

item 5.02 item 7.01 item 9.01

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Departed

Ignacio Alvarez

Chief Executive Officer

BPOP · POPULAR, INC.

Effective: 2025-06-30
Filed: February 27, 2025, 6:59 PM ET

On February 25, 2025, Ignacio Alvarez announced his retirement as Chief Executive Officer (“CEO”) of Popular, Inc. (“Popular” or the “Corporation”), effective June 30, 2025 (the “Retirement Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Ignacio Alvarez retired as Chief Executive Officer at POPULAR, INC..

Action: retired
Role: Chief Executive Officer

Exact text from the filing

On February 25, 2025, Ignacio Alvarez announced his retirement as Chief Executive Officer (“CEO”) of Popular, Inc. (“Popular” or the “Corporation”), effective June 30, 2025 (the “Retirement Date”).

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POPULAR, INC. filing history →

Source: SEC EDGAR

accession 0001193125-25-037646

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