Megaworld announces new president

Listed property developer Megaworld Corp. on Tuesday announced the appointment of Lourdes Gutierrez-Alfonso as its president, taking over the post of billionaire Andrew Tan effective immediately.

Prior to her appointment, Gutierrez-Alfonso served as the chief operating officer of the company, along with director and chairman of its Board Executive Committee and Management Executive Committee.

Gutierrez-Alfonso has been with Megaworld since 1990 and currently serves as director in affiliate firms such as Global-Estate Resorts Inc. and MREIT Inc., after graduating cum laude with a degree of Bachelor of Science major in Accounting from the Far Eastern University in 1984.

Tan, meanwhile, will remain with Megaworld as the chairman of the Board of Directors.

To recall, Gutierrez-Alfonso was appointed as director of the company effective June 3, 2024, serving the unexpired term of Kingson Sian. She was also designated as a member of the Executive Committee.

Megaworld earlier this month announced the retirement of Kingson Sian as director and member of the Executive Committee and as executive director of Megaworld Corp., following his retirement from Travellers International Hotel Group.

The company reported a 10% growth in its net income for the first quarter to P5.0 billion, while its attributable net income climbed 8% to P4.4 billion. Consolidated revenues grew by 16% to nearly P19 billion.

Megaworld currently has 31 master planned integrated urban townships, integrated lifestyle communities, and lifestyle estates across the country. It aims to close the year with 35 townships in line with its 35th anniversary. —KBK, GMA Integrated News