First Gen Corp. of the Lopez Group on Thursday announced management changes with the resignation of some senior executives.
First Gen said in a disclosure to the stock exchange Richard Tantoco would step down as executive vice president effective July 1, 2023 because of medical reasons. Tantoco will remain a member of the board of directors of First Gen, the country’s clean energy leader whose portfolio includes geothermal, hydro, wind, solar and liquefied natural gas.
Tantoco will also step down as president of First Gen subsidiary Energy Development Corp. effective the same date but will remain a member of the EDC board of directors.
Federico Lopez will transition from his role as EDC chairman and chief executive to being solely chairman of the board effective July 1, 2023.
Joaquin Quintos IV tendered his resignation as director of EDC to focus on his duties and responsibilities under the Lopez Group’s healthcare industry, in particular Asian Eye Institute Inc., PiHealth Inc. and the recently-acquired The Medical Services of America (Philippines) Inc.
The remaining directors elected chief operating officer Jerome Cainglet as president and COO and the appointment of Francis Giles Puno, a member of the board of EDC, as vice chairman and chief executive.