Pardo retires as chair of 7-Eleven Philippines

Jose Pardo —PHOTO FROM PHILIPPINE STOCK EXCHANGE WEBSITE

MANILA, Philippines — The operator of 7-Eleven chain stores is set to undergo management changes with the retirement of 85-year-old Jose Pardo as chair and independent director of the company after nine years of service.

Philippine Seven Corp. (PSC), in a disclosure on Friday, said Pardo would vacate his post by the end of his term this coming July 17. Pardo was first elected to the position on Jan. 20, 2015.

The corporate executive, who is also independent director at Del Monte Philippines and Robinsons Land Corp., will then transition to the role of chair emeritus.

The octogenarian is also chair and independent director of Securities Clearing Corp. of the Philippines and holds a non-executive director position at National Grid Corp. of the Philippines.

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PSC president and CEO Jose Victor Paterno, who has been with the company for two decades, will assume the role of board chair and chair of the executive committee also on July 17.

Chief operating officer Ying-Jung Lee, meanwhile, will move up as director and president. He has been working for the company for 14 years, previously as vice president for supply chain.

Last year, the company achieved its 4,000-store milestone after 40 years of operating in the country.

Its first store was opened in Feb. 1984 at the corner of EDSA and Kamias Road in Metro Manila. The latest store is in Newport District, Pasay City.