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CEO of Puerto Rico's Popular Declares IOC Presidency

Popular Inc. (BPOP) Chairman and Chief Executive Richard Carrion wants to make his pastime a full-time job, declaring on Wednesday his candidacy to become president of the International Olympic Committee.If elected in September, Mr. Carrion, 60 years old, would step down as CEO of Puerto Rico's largest bank by assets and deposits, but remain its chairman.The decision is setting off a search for a potential successor at a critical time for the bank, which hasn't fully recovered from the financial crisis, has yet to repay government aid and must decide whether to grow or shrink further to improve profitability."The biggest strategic challenge is still the U.S. [mainland] operations," Mr. Carrion said in an interview. Still, the IOC presidency is something "I have been carefully considering for some time." Popular, he said, "is prepared."Popular's board of directors has started to search for a potential successor. "We have a number of strong internal candidates and would also consider ext...

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