Manila Water prexy resigns, Rene Almendras to take over

10-Aug-2019 Intellasia | UNTV News | 6:02 AM Print This Post

Manila Water’s president and CEO Ferdinand dela Cruz resigned on Thursday (August 8).

This was announced through a disclosure of the Philippine Stock Exchange following a meeting by the firm’s Board of directors on Thursday afternoon.

In a statement on Friday (August 9), Dela Cruz confirmed his resignation citing personal reasons.

“(I) have opted to retire from Ayala Corporation now that our services are relatively stable, a new water resources roadmap is in place and a demand management plan has been initiated,” he said,

Dela Cruz’ resignation takes effect on August 31, 2019.

He will be replaced by Rene Almendras taking over as President, Chief Executive Officer, and Chief Sustainability Officer of Manila Water effective September 1, 2019.

Almendras served as Secretary of Foreign Affairs, Energy and Cabinet Secretary during the administration of former President Benigno Aquino III.

Before he entered the government service in 2010, he already served as Manila Water’s president and CEO.

The Supreme Court (SC) recently fined Manila Water over P900 million for violating the Clean Water Act.

Meanwhile, the Metropolitan Waterworks and Sewerage System (MWSS) Board also demanded P1.13 billion payment from Manila Water for the supply crisis that disrupted water supply in Metro Manila last March.

https://sg.news.yahoo.com/manila-water-prexy-resigns-rene-050759222.html

 


Category: Philippines

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