Dennis Uy's DITO CME announces board, management changes as Summit stake rises

Cherylyn C. Uy, wife of DITO CME chair Dennis Uy, has stepped down as treasurer of the company, while board director Raouf A. Kizilbash has also resigned, both effective April 3, 2025. Uy, however, will remain a director of the company.

The resignations come as Singapore’s Summit Group moves closer to becoming the single-largest shareholder of DITO CME, signaling a gradual dilution of Uy’s influence in the holding company behind DITO Telecommunity.

Their replacements—Kim Jay T. Villamar as treasurer and Chun Lam Chan as director—were appointed during a special board meeting held on the same day.

The leadership shakeup follows antitrust approval of Summit Telco’s plan to acquire up to 9 billion new shares of DITO CME. 

If fully subscribed, the deal would reduce Uy-led Udenna Corp.’s stake from 49.79 percent to around 35 percent, while increasing Summit’s total stake to 45.6 percent, making it the largest shareholder .