Ex-PLDT top exec now Dito CME's new president

Former PLDT number 2 executive, Ernesto "Eric" Alberto, is the new president of Dito CME Holdings Corporation.

Dito CME is the listed holding firm of the country's third telco Dito Telecommunity. The latter is owned by Beijing-run China Telecom (40%) and businessman Dennis Uy's Udenna Corporation (35%) and Chelsea Logistics (25%).

Alberto, who was once regarded as the successor to Manny Pangilinan as PLDT CEO, was an executive vice president and chief revenue officer of the telco giant before retiring in June 2019.

Alberto joined Dito CME in late July as an independent director, after his non-compete agreement expired. He'll assume as the listed firm's president starting August 17.

Dito CME told the Philippine Stock Exchange that businessman Uy would continue to be the listed firm's chairman and CEO.

"Considering that Mr. Uy continues to hold the position of chairman, the change shall foster an appropriate balance of power, increased accountability, and better capacity for independent decision-making," Dito CME said in a disclosure on Friday, August 14.

Dito CME would own indirect interest in Dito Telecommunity, pending necessary government approvals.

In July, it reapproved boosting its capital stock from P2.8 billion to P40 billion. – Rappler.com

Aika Rey

Aika Rey covers the Philippine Senate for Rappler. Before writing about politicians, she covered budget, labor, and transportation issues.