Pangilinan to step down if PLDT regains footing
PLDT, Inc. Chairman Manuel V. Pangilinan will only step down once the telco giant achieves financial sustainability.
“I will not be here forever,” he told reporters following the company’s stockholders’ meeting earlier this month.
“I do hope that when we reach that point where the numbers continue to look good, and if myself sense that the numbers are sustainable for 2019 and beyond, sure,” Pangilinan added.
Pangilinan, who took over the reins of PLDT in 2016 after Napoleon Nazareno stepped down as president, has said that the telco’s next chief should be younger, digital-savvy and ready “to die for the job, give up his family and focus on leading the company’s new digital thrust.”
PLDT has had a run of rough years but Pangilinan is optimistic that the telco will return to profitability following an expansion drive.
He said PLDT would focus on raising the momentum of its wireless as well as its network services businesses while also keeping its eyes on strengthening the home and enterprise segment, which continues to fuel overall growth.
The telco expects to finish the roll-out of its 4G network, converting subscribers still using copper-based services, while also preparing for the adoption of 5G technology.
PLDT started the year with an upbeat note as earnings for the first quarter surged 41 percent. The group realized net income of P7 billion in January to March, up the P4.96 billion recorded a year earlier.
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