Manuel V. Pangilinan, the current chairman of the PLDT Group, will serve as the President and Chief Executive Officer (CEO) of PLDT and Smart Communications Inc. following the retirement of incumbent head Alfredo S. Panlilio.
In a disclosure to the Philippine Stock Exchange (PSE), PLDT said Panlilio's retirement will be in effect on Dec. 31, 2023.
Pangilinan will take over Panlilio's position and duties starting Jan. 1, 2024, concurrent with his being a Chairman "until such time as a new President and CEO is appointed."
The PLDT Board of Directors accepted Panlilio's retirement, and appointed Pangilinan on Dec. 5. Panlilio retired due to health reasons, according to the disclosure.
However, Panlilio will remain director of PLDT, Smart, and MediaQuest Holdings, Inc., Chairman of Maya Bank and Bonifacio Communications Corporation, director of Multisys Technologies Corporation and MultiPay, president of MVP Sports Foundation, Trustee of Asian Carriers Conference, and member of the Management Association of the Philippines.
Pangilinan expressed his gratitude to Panlilio "for the vision, energy and heart that he dedicated to PLDT’s customers, employees, shareholders, and the Board of Directors."
“I would like to thank Al profusely for his service and his loyalty, and wish him the very best. I also enjoin everyone to support a smooth transition within the PLDT Group at this critical juncture of its corporate life," he added .
The telco stated that Panlilio has been "instrumental in steering the PLDT Group during the challenging times of the Covid 19 pandemic and enabling PLDT to sustain profitability and industry leadership in that difficult period."
"With Mr. Panlilio at the helm, PLDT received various citations from both local and international organizations for pioneering brand, corporate social responsibility, cybersecurity, network and sustainability initiatives," it said.
This is capped with Panlilio being bestowed with the CEO of the Year citation in 2022 and PLDT being recognized as one of the World’s Best Companies by Time Magazine in 2023.