PLDT's Pangilinan to serve as president and CEO as Nazareno retires

PLDT and Smart Chairman Manuel V. Pangilinan will assume the position of president and CEO starting January 1, 2016.

 

"Mr. Nazareno was due for mandatory retirement in 2014 but was requested by the board of directors of PLDT to stay on for another year," PLDT told the local bourse.

 

The one year extension gave the telco giant the opportunity to launch the group's digital transformation program and work on a succession plan.

 

"He will remain as non-executive director of First Pacific Company Limited and a member of the board of directors of Rocket Internet," PLDT said.

 

First Pacific is a Hong-Kong based investment management and holding company, and Rocket Internet is a German firm which provides an online platform for consumer businesses outside the US and China. Rocket Internet brands include Zalora and Lazada. – Jon Viktor Cabuenas/VS, GMA News