Dennis Uy steps down as DITO CEO

Davao-based tycoon Dennis Uy has stepped down as chief executive officer of the new major telco player, DITO Telecommunity Corp., to make way for the appointment of a seasoned telco executive.

In a disclosure to the Philippine Stock Exchange on Wednesday, DITO Tel parent company DITO CME Holdings Corp. announced the transfer of DITO CME president Ernesto Alberto to DITO Tel as its new CEO.

Alberto will replace Uy, who remains chairman of DITO Tel.

Meanwhile, DITO CME chief operating officer Donald Patrick Lim was appointed as DITO CME president in an acting capacity.

Alberto, prior to his stint at DITO CME, was vice president and chief revenue officer of telecommunications giant PLDT Inc.

“Eric’s wealth of experience in senior capacities in the banking and telecoms sectors, spanning several decades, will be very valuable in his new role as DITO Tel CEO,” said Uy.

“His appointment comes at an opportune time as we continue to maintain the company on a high-growth trajectory,” added the DITO Tel chairman.

Uy said that “with the recent equity infusions at the DITO CME level and DITO Tel’s signing of the $3.9 billion long-term project finance facility, we have further confidence in DITO CME and DITO Tel achieving their business plan targets at the soonest possible time.” —VBL, GMA Integrated News