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MVP steps down as president and CEO of PLDT Inc., Panlilio to takeover

Tycoon Manny V. Pangilinan (MVP), 74, earlier revealed that he is stepping down on his duties as the president and CEO of PLDT Inc., a local telco giant.
File photo: MVP

MVP steps down as president and CEO of PLDT Inc.

During the group's annual shareholder meeting, MVP shared that it is discharging his duties as president and CEO of PLDT to the company's current chief revenue officer Al Panlilio.

ABS-CBN reported that Panlilio "humbly" accepted the post and confessed that he has big shoes to fill in as Pangilinan set the bar so high. Pangilinan noted that Al Panlilio's long experience and competent qualities made his decision to step down "less" difficult.

Panlilio said in his speech that,

As the new CEO, I am far from perfect and I will need unsparing support, cooperation, and trust from everyone here. But, I pledge to serve you well.

MVP has served the company for 23 years. While he stepped down as the president and CEO of PLDT, he will remain the group's chairman.

This move came at a time that the company is facing new competition from Dennis Uy's DITO apart from Globe.

In 2020, the Pangilinan-led telco said consolidated service revenue 2020 reached PHP 171.5 billion, 9 percent higher than the previous year.

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