08:06 AM EST, 01/31/2025 (MT Newswires) -- First BanCorp (FBP) said Friday it is implementing a strategic reorganization, with Executive Vice Presidents Cassan Pancham and Carlos Power set to retire in May, while assisting in the transition process, according to CEO Aurelio Aleman.

The company stated that Nayda Rivera-Batista will assume the newly established role of executive vice president and chief consumer officer, overseeing several business lines and taking on responsibilities as corporate chief of staff.

First BanCorp added that the reorganization also includes expanded roles for Sara Alvarez, Juan Carlos Pavia, and Lillian Diaz, as well as new appointments for Myrna Rivera and Said Ortiz as senior vice president division directors.