PT&T Corp. announced management changes on Tuesday as key executives resigned and moved up to the parent firm Menlo Capital, a privately held company led by Benjamin Bitanga-led Menlo Capital.
PT&T, which provides broadband services mainly to corporate clients, said in a stock exchange filing on Tuesday that chief operating officer and director Miguel Marco Bitanga and chief information officer Alberto Ambuyo resigned, effective May 27.
They will be joined by Reinhard Klocker, PT&T's strategic projects and vendor management advisor. No replacements were named on Tuesday.
The executives will pursue opportunities in Menlo Capital, which owns PT&T and a third of online news site Rappler.
Earlier this year, PT&T CEO James Velasquez said the company is moving to lift its decades-old trading suspension after addressing a capital shortfall.
