Asia United Bank Corporation announced that Mr. Jacinto L. Ng, Sr., has announced his intention to retire as Chairman after December 31, 2017. Mr. Ng, however, has agreed to continue on as Chairman Emeritus after his retirement. On January 1, 2018, Upon the effectivity of Mr. Ng's retirement, the current President of the Bank, Mr. Abraham T. Co, will be assuming the Chairmanship, subject to compliance with the nomination and election process for the Bank's executive officers under the Bank's Manual on Corporate Governance as well as other regulatory processes. On the other hand, Mr. Manuel Gomez will become member of the Board of Directors and President of the Bank as Mr. Co's replacement; likewise be subject to compliance with the nomination and election process for the Bank's directors and officers under the Bank's Manual on Corporate Governance and other regulatory processes. Further, the nomination and appointment of Mr. Abraham T. Co as officer as well as Mr. Manuel Gomez as director and officer are subject to the approval of the Board of Directors of AUB in a meeting that shall be held on a later date. Finaly, Mr. Jacob C. Ng, currently a member of the Board and concurrent Chief Transformation Officer and Head of Consumer Lending will become the Bank's Chief Transformation Officer and Head of Branch Banking, also effective January 1, 2018. All of the foregoing changes in the directors and officers of the Bank will take effect on January 1, 2018.