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MANILA, Philippines – Telco giant PLDT Incorporated has reappointed Manuel V. Pangilinan as its president and CEO, just over two years since he passed the baton to Al Panlilio.
In a stock exchange filing on Tuesday, December 5, its board of directors accepted the retirement of Panlilio as president and CEO of PLDT and Smart effective December 31, citing health reasons.
Panlilio, however, will remain as director of PLDT, Smart, as well as other companies under the MVP group.
Pangilinan, who stepped down last 2021, will assume the roles again effective January 1, 2024. The 77-year-old tycoon will also remain as PLDT chairman until such time that a new president and CEO is appointed.
“I would like to thank Al profusely for his service and his loyalty, and wish him the very best. I also enjoin everyone to support a smooth transition within the PLDT Group at this critical juncture of its corporate life,” Pangilinan, who has hinted of retirement on several occasions, said.
Panlilio’s path to being a business leader was cemented when he took the position of vice president at the Lopez Group of Companies in 1997. He was on top of business development for the Lopezes’ communication units ABS-CBN Broadcasting, BayanTel, and SkyCable.
He was among the first executives to jump to PLDT before the turn of the millennium when Pangilinan invested in PLDT.
Panlilio served as PLDT Global Corporation’s senior vice-president from 1999 to 2004, and then as its president and CEO until 2010.
After over a decade in the telco unit, Panlilio was pulled into Manila Electric Company (Meralco) as Pangilinan increased his control over the country’s largest power distributor. In 2010, Panlilio assumed a senior vice-president post and served as the head of customer retail services and corporate communications.
Aside from being a veteran executive, Panlilio has also taken leadership positions in sports. Panlilio was president of the Samahang Basketbol ng Pilipinas. – Rappler.com