In a regulatory filing on Aug. 1, Donald Patrick L. Lim was promoted from acting president to president of DITO during the meeting.
Leo D. Venezuela was named the new chief financial officer, succeeding Joseph John L. Ong, who has retired.
The leadership transition was first reported by InsiderPH’s Insider Info column.
Davao tycoon Dennis A. Uy remains the chair of the board. The other directors are Lim, Cherylyn C. Uy, Eric O. Recto, Raouf A. Kizilbash, Jonathan L. Ravelas, Enrico S. Cruz, and Salvador C. Medialdea.
During the meeting, stockholders also approved a proposed equity offering, which is being pursued to meet regulatory requirements.
DITO CME earlier announced plans to raise up to P4.2 billion via a follow-on share sale. The board approved selling 1.95 billion shares at up to P2.15 each, representing 10 percent of its capital stock.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
