JV Emmanuel "Jocot" de Dios will take over as president and chief executive officer (CEO) of Manila Water effective today (September 1) replacing tycoon Enrique Razon, Jr. who assumed the post for barely two months.
CITING major management reorganization tycoon Enrique Razon, Jr. has stepped down from the helm of utility firm Manila Water Company just two months after he first took over as president.
In a company disclosure to the Philippine Stock Exchange (PSE) Tuesday, the firm announced that JV Emmanuel "Jocot" de Dios will take over as president and chief executive officer (CEO) of Manila Water effective today (September 1).
Razon, however, will remain chairman of the board.
According to the firm, this was part of a “major management reorganization” at the utility company.
Prior to the new role, De Dios was CEO of Prime Metro BMD Corporation (PrimeBMD), an affiliate company of the Razon Group's infrastructure investment arm.
De Dios has three decades of experience in infrastructure and energy. He also served as CEO of General Electric Philippines from 2012 to 2020 and was undersecretary of the Department of Energy from 2001 to 2004.
Last June, Manila Water announced Razon's appointment as the company’s director, chairman of the Board of Directors, president and chief executive officer, and chairman and member of Executive Committee, effective June 3.
With the ports magnate’s takeover, Fernando Zobel de Ayala stepped down as Manila Water’s chairman of the Board of Directors, chairman and member of the Executive Committee, and member of the Talent and Remuneration Committee.
He remains director of the company’s board.
Meanwhile, Fernando’s brother Jaime Augusto Zobel de Ayala resigned as the company’s vice chairman and director.
In a separate statement, Prime Infra said Sebastian Lacson, the company’s senior project director leading waste-to-fuel initiatives, assumes the concurrent role of Prime BMD CEO, which will be vacated by De Dios.
On the other hand, Hans Christian Lopez, deputy project director of WawaJVCo, moves to Prime BMD as chief operating officer.
The executive changes strengthen Prime Infra's leadership across its business units as it continues to expand its portfolio, according to Prime Infra.
Prime Infra acquired the controlling stake in east zone water concessionaire Manila Water.
Tags: #EnriqueRazon, #ManilaWater, #corporateshuffle