Popular, Inc. Announces Key Executive Leadership Changes Amid Strategic Transformation

San Juan, Puerto Rico, April 8, 2026 – Popular, Inc. (NASDAQ: BPOP), the leading financial institution in Puerto Rico and a top-50 U.S. bank holding company, has announced significant changes to its executive leadership team as it advances a new strategic framework aimed at enhancing operational effectiveness and customer experience across its franchises.

Key Leadership Appointments

• Israel Velasco Appointed Executive Vice President and Head of U.S. Operations:
  • Israel Velasco, who has successfully led Popular’s Florida operations for 21 years, will become Executive Vice President and Head of U.S. Operations for Popular Bank, the corporation’s U.S. banking subsidiary.
  • He succeeds Manuel A. Chinea, leveraging his deep experience to spearhead Popular’s U.S. strategy, with a focus on improving financial performance and driving operational effectiveness in alignment with the company’s new strategic objectives.
  • Velasco will also join Popular’s Senior Management Team, reinforcing his pivotal role in the corporation’s leadership structure.
• Manuel A. Chinea to Lead Customer Experience and Administration Services:
  • After 13 years at the helm of U.S. operations and 38 years with Popular, Manuel A. Chinea will transition to the newly established role of Chief Experience and Administration Services Officer.
  • In this capacity, he will oversee Customer Experience, Human Resources, Corporate Real Estate, and Marketing, bringing his extensive knowledge of both the Puerto Rico and U.S. markets to bear on initiatives aimed at strengthening employee loyalty and elevating the end-to-end customer journey.
• Retirement of Eduardo J. Negrón:
  • Eduardo J. Negrón, Chief Administration Officer since February 2022 and a senior executive with Popular since 2000, will retire effective June 30, 2026. His departure marks the end of a distinguished career at the corporation.

Timing and Strategic Implications

• The executive changes will be effective July 1, 2026, coinciding with the retirement of Mr. Negrón.
• These appointments are designed to support Popular’s sharpened focus on building a best-in-class organization, achieving top-tier financial performance, and delivering exceptional experiences for customers and employees.

Potential Impact on Shareholders and Share Price

• Strategic Leadership Realignment: The appointments of seasoned leaders such as Velasco and Chinea to critical roles signal Popular’s commitment to operational excellence and strategic execution across both its core Puerto Rico market and its U.S. operations. This move may be viewed positively by investors, especially given Velasco’s longstanding track record in Florida and Chinea’s deep institutional knowledge.
• Focus on Customer and Employee Experience: Chinea’s expanded role underscores Popular’s prioritization of customer satisfaction and employee engagement, both of which are key drivers of sustainable growth and competitive differentiation.
• Leadership Succession: The planned and orderly retirement of a senior executive, Eduardo Negrón, suggests stability and continuity in governance, which can also bolster market confidence.
• Strategic Framework and Transformation: The leadership changes are part of a broader strategic transformation, with a clear emphasis on efficiency, financial performance, and best-in-class operations—factors that are closely watched by analysts and could influence share valuations.

Company Overview

Popular, Inc. is the largest financial institution in Puerto Rico by assets and deposits, and is ranked among the top 50 U.S. bank holding companies by assets. Its principal subsidiary, Banco Popular de Puerto Rico, offers a full suite of retail, mortgage, and commercial banking services in Puerto Rico and the U.S. and British Virgin Islands, as well as auto and equipment leasing and financing. In the U.S. mainland, Popular operates through Popular Bank, with branches in New York, New Jersey, and Florida. The company also provides broker-dealer and insurance services in Puerto Rico.

Forward-Looking Statements and Risk Factors

The company cautions that this announcement contains forward-looking statements regarding business direction, financial performance, and strategic initiatives. These are subject to risks and uncertainties—including competitive dynamics, regulatory changes, economic conditions, market fluctuations, and unforeseen events—which could cause actual results to differ materially from projections. Investors are encouraged to review the company’s latest SEC filings for detailed risk disclosures.

Investor and Media Contacts

• Investor Relations: Paul J. Cardillo, Senior Vice President and Investor Relations Officer, [email protected], 212-417-6721
• Media Relations: MC González Noguera, Executive Vice President and Chief Communications & Public Affairs Officer, [email protected], 917-804-5253

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consult professional advisors before making investment decisions. Popular, Inc. assumes no obligation to update or revise forward-looking statements contained herein.

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