Regulatory filings made ahead of the company’s annual stockholders’ on Wednesday hinted at a revamp within the company’s senior ranks.
For starters, Donald Patrick Lim will take on a permanent role as company president while Leo Venezuela, the current head of corporate planning and investor relations, is expected to be promoted to chief financial officer, Insider Info learned.
Both executives are seasoned professionals with extensive and valuable experience.
Lim is currently DITO’s president on an acting capacity. He has held several leadership roles in some of the country’s biggest corporations, including Mccann Worldgroup, ABS-CBN Corp., and Burger King Philippines.
Venezuela, who replaces CFO Joseph Ong, is a trusted figure in the investment community, having previously worked in Bloomberry Resorts, CLSA, and ATR KimEng Securities.
Ong’s departure from DITO CME’s board also leaves one seat vacant.
The remaining board nominees are company chair Dennis and Cherelyn Uy, Lim, business tycoon Eric O. Recto, and Raouf A. Kizilbash.
Joining them are three independent directors: banking veteran Enrico Cruz, award-winning forecaster Jonathan Ravelas, and Salvador Medialdea, who served as Executive Secretary during the Duterte administration.
The management reshuffle comes amid rumors of a potential ownership change. We’re told no major announcement on that matter is expected at this time.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
