Manila Water Co. Inc., a unit of conglomerate Ayala Corp., said its board elected Jose Rene Gregory Almendras as new president.
Manila Water said in a disclosure to the stock exchange Friday Alemedras’ appointment as president, chief executive officer and chief sustainability officer of the company would become effective Sept. 1.
Almendras will replace Ferdinand dela Cruz, who resigned and availed of early retirement. Dela Cruz resignation will take effect on Aug 31.
Almendras is also currently president and chief executive of AC Infrastructure Holdings Corp.
Almendras, prior to joining the government in June 2010, served as the company’s president and chief operating officer since March 30, 2009. The company achieved 100 percent customer satisfaction rating during his term.
He was instrumental for the expansion and growth of the Company beyond the East Zone. During his term, the company was awarded as one of the Best Managed Companies in Asia, the Best in Corporate Governance, one of the Greenest Companies in the Philippines, and hailed as the world’s Most Efficient Water Company.
Manila Water, which is the water concessionaire for the east zone of Metro Manila, experienced a supply shortage earlier this year.
As a result, tens of thousands of Manila Water customers suffered from prolonged service interruptions, low pressure, and rationing.
Dela Cruz’s resignation comes after the Supreme Court slapped Manila Water with a ₱921.46-million fine for violations of the Philippine Clean Water Act after it supposedly failed to put up sewage treatment facilities in its service areas as mandated by the law.
Manila Water earlier was penalized P1.1354 billion by the Metropolitan Waterworks and Sewerage System for its inability to meet service obligations to provide 24/7 water supply to its consumers.