Cebu Landmasters Inc. (CLI) appointed Jose Franco B. Soberano as its new president and chief executive officer, completing the multiyear succession plan as the company expands its footprint beyond its traditional strongholds.

The younger Soberano, who previously served as senior executive vice president and chief operating officer, succeeds his father, company founder Jose R. Soberano III.

The elder Soberano will transition to executive chairman of the board and head of the executive committee, where he will continue to oversee strategic direction and board leadership.

The succession plan has been developed over several years as part of the company's long-term leadership and governance strategy, reinforcing CLI’s commitment to building a sustainable institution as it advances its vision of becoming the Philippines’ leading and most trusted developer.

"This transition reflects years of deliberate preparation and a shared commitment to ensuring Cebu Landmasters remains strong for generations to come," the CLI chairman said.

He noted that, "Franco has played a critical role in shaping the company we are today and is well positioned to lead CLI through its next stage of growth."

Through Franco Soberano as COO, CLI has strengthened its portfolio, expanded its geographic reach, and advanced strategic initiatives that have reinforced its position as the leading developer in Visayas and Mindanao and one of the country's fastest-growing listed property developers.

The company recently accelerated its expansion beyond VisMin with the planned launch of its first residential mixed-use development in Pasig and the acquisition of a 70-hectare property in Dasmariñas, Cavite, envisioned to be a future township.

The leadership transition underscores the company's confidence in its future and commitment to long-term value creation for shareholders, homeowners, business partners, and communities.

“As our Chairman has expressed his trust in the next generation of leadership, I humbly accept this responsibility with the deepest gratitude and with the highest respect for the legacy that Chairman Joe Soberano has built,” said Franco Soberano.

He added that, “As we build the CLI of the future, I call on our 1,500-strong organization to lean on the momentum we’ve built for many years and on the back of our renewed vision-mission to be masterful, resilient, and yet very generous in our efforts.”

As part of its governance transition, CLI shareholders also elected Leonardo D. Cuaresma Jr. as Independent Director, succeeding Ma. Aurora D. Geotina-Garcia, who completed her allowable term under SEC rules on independent director tenure.

CLI said Cuaresma brings decades of experience in audit, accounting, and governance, further strengthening the Board as CLI enters its next phase of growth.

He previously served as Managing Partner and Chief Operating Officer of Punongbayan & Araullo, and chaired the Philippine Auditing and Assurance Standards Council. (James A. Loyola)