MANILA, Philippines (Update 1, 5:12 p.m.) — Tycoon Manuel V. Pangilinan has officially stepped down as president and chief executive of telco giant PLDT Inc.By the end of Tuesday’s annual stockholders’ meeting, Pangilinan, 74, will be replaced by Al Panlilio, company chief revenue officer and president and CEO of wireless unit Smart Communications Inc. It was a position that Pangilinan held since 2016 after the retirement of Napoleon Nazareno in late 2015. In his last speech as president and chief executive, Pangilinan, who will remain as PLDT’s chairman, said leaving his post was not hard at all with Panlilio, 57, as his successor. Prior to his comeback to the PLDT Group in 2019, Panlilio served as senior vice president for customer retail services group of Manila Electric Co., the country’s largest power distributor. “As the new CEO, I am far from perfect and I will need unsparing support, cooperation and trust from everyone here.

Source: Philippine Star June 08, 2021 08:26 UTC