InsiderPH earlier reported Martirez’s work suspension started on Sept. 8 (Monday) as human resources continued its formal probe into employee complaints on allegations of “toxic” working conditions.
It remains unclear who is currently running Smart, although an insider said Martirez left instructions to key executives in his absence.
“Mr. Martirez called a leaders’ meeting before he took his leave and instructed specific wireless heads to continue to pursue his third quarter initiatives,” the insider said.
Weeks before workplace complaints against Martirez surfaced in a viral Reddit thread, he unveiled KiQ, a Gen Z-focused mobile brand aimed at reviving Smart’s growth momentum.
At the time, Martirez said several more projects were in the pipeline, but questions now loom over Smart’s strategy due to his ongoing suspension.
A stock market analyst at a major brokerage, who declined to be named, said the leadership uncertainty at Smart sends a negative signal for PLDT’s biggest revenue source.
PLDT earlier booked a core income of P17.6 billion in the first half of 2025, up 1 percent year-on-year as gains from now-profitable fintech arm Maya offset weaker telco results.
Excluding Maya and one-off items, telco core income fell 4 percent to P17.2 billion.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
