Metro Manila (CNN Philippines, April 17) — Some key officials of Pangilinan-led PLDT, including the group’s chief of finance, left their post following the controversial multibillion-peso budget overrun.
Based on disclosures to the local bourse Monday, the telco giant announced the voluntary separation from service of its top officers, with Annabelle Chua, PLDT’s senior vice president and chief financial officer, taking early retirement.Aside from Chua, the firm’s senior vice president and network head Mario Tamayo also took early retirement.Mary Rose Dela Paz, the company’s senior vice president and chief procurement officer, as well as vice president Wilson Bobier, filed for voluntary resignation.Vice president Alexander Kibanoff, meanwhile, availed of the company’s manpower reduction program.The changes, which are already effective, are “not expected to have any significant impact on the company’s current or future operations, financial position, or results of operations,” PLDT said.
Among those officials who exited, Chua was one of the named defendants in a US class action lawsuit filed after the budget overrun was bared.
RELATED: PLDT says US class action lawsuit filed vs current, ex-officials
Last month, PLDT said that it managed to cut its budget overspend to ₱33 billion following its settlement deals with major vendors.It also reiterated that its investigation found “no evidence of fraud, intentional concealment, or bad faith conduct on the part of any employee of the company…
