The search is over for the next president and chief executive of PLDT Inc., as it found a “worthy” replacement for the posts held by Manuel Pangilinan for five years.
“The annual shareholders meeting of PLDT is scheduled for next month. I will retire as president and CEO of PLDT and pass the baton over to Al [Panlilio],” Pangilinan, who has been sitting as president and chief executive of PLDT, said during the virtual first-quarter financial briefing.
Panlilio was appointed as chief revenue officer in July 2019, replacing Ernesto Alberto and later on was named president and chief executive of Smart Communications Inc. Pangilinan will stay as chairman subject to the shareholders’ consent.
PLDT, partly owned by Hong Kong’s First Pacific Co. Ltd. of the Salim Group and Japan’s NTT group, reported a 2-percent drop in net income to P5.80 billion in the first quarter from P5.91 billion in the same period last year.