Business magnate Manny V. Pangilinan has formally stepped down from his position as president and chief executive officer of PLDT Inc. handing the reins to Al Panlilio.
BUSINESS mogul Manny "MVP" Pangilinan has stepped down from his post as president and chief executive officer (CEO) of telecommunications giant PLDT.
Pangilinan announced his decision during a virtual annal stakeholders' meeting on Tuesday.
PLDT chief revenue officer Alfredo Panlilio will take his place, while MVP remains the chairman of the board of PLDT.
“I look forward to a great future for PLDT where our accomplishments will match our service and our passion with our purpose,” he added.
Responding to Mr. Pangilinan, Mr. Panlilio said: “I greatly look forward to supporting you and working with you in this new capacity.”
“As CEO, I will work diligently to materialize our responsibility to realize our vision for PLDT as a true customer-centric company that empowers all Filipinos in building a stronger nation.” Panlilio said.
Pangilinan said choosing Panlilio to be his successor was “made less difficult by the knowledge that Al, with his long experience with PLDT and his competent qualities, would be able to take my place forthwith, without interruption or detriment to the progress of PLDT.”
“As the new CEO, I am far from perfect, and I will need unsparing support, cooperation and trust from everyone here. But I pledge to serve you well,”Panlilio also said.
Pangilinan stepped down as PLDT continues to enjoy a "boom" year, with a 9-percent increase in the telco's core income in the first quarter of 2021 due to strong demand from Filipinos who were forced to stay at home due to the Covid-19 pandemic. (ONT/With report from Business World)
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