PhilWeb board reshuffle follows Araneta exit after share sale

MANILA, Philippines – PhilWeb Corp. on Monday said members of the Araneta family have resigned as directors and/or officers of the company, effective immediately, following the sale of all PhilWeb shares by Gregorio Araneta Inc.

The company identified the resigning officials as Gregorio Araneta III, Alfonso M. Araneta and Luis M. Araneta.

READ: Gregorio Araneta sells 57% Philweb stake for P1.8B

In a disclosure on Monday, the company said the resignations comply with the first closing obligations under a share purchase agreement executed in October 2025. 

Gregorio Araneta III also stepped down as chairman of the board. The resignations were presented to and accepted by the board during a special meeting held on Dec. 22, 2025.

To fill the vacancies, the board elected Ernesto Lagdameo III, Jacob Policarpio and Bob Huang as directors after pre-qualification by the corporate governance committee. 

Following the vacancy in the chairmanship, the board appointed Crisanto Roy B. Alcid as chairman of the board, effective immediately, to ensure leadership continuity. INQ