Davao’s Dennis Uy steps down as CEO of DITO Tel
MANILA -Davao-based businessman Dennis A. Uy stepped down as CEO of telco challenger DITO Telecommunity.
He will be replaced by industry veteran Ernesto “Eric” Alberto, who was head of listed parent firm DITO CME Holdings.
“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. His appointment comes at an opportune time as we continue to maintain the company on a high-growth trajectory,” Uy said in a statement on Wednesday.
According to the statement, Uy will remain chair of DITO Tel. At the same time, DITO CME chief operating officer Donald Patrick Lim will be appointed as acting president of the company.
“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,” Uy said.