Manila Water president, CEO steps down
Credit to Author: JORDEENE B. LAGARE| Date: Fri, 09 Aug 2019 02:10:55 +0000
MANILA Water Co. Inc. accepted the resignation of Ferdinand dela Cruz as its director, president, and chief executive officer who held the top post for more than two years.
In a disclosure on Friday, the Ayala-led utility said dela Cruz stepped down as its top executive as well as a member of its Executive Committee due to “personal reasons.”
His resignation will take effect on August 31.
Dela Cruz will be replaced by Jose Rene Gregory Almendras, whose term will become effective on September 1.
Dela Cruz joined the Manila Water family in 2011 as the East Zone Business Operations group director and concurrently served as group director for Corporate Strategic Affairs.
Before holding the highest position at the listed firm, dela Cruz was the chief operating officer for Manila Water Operations (Manila Concession), president of Manila Water Total Solutions Corp. and president of the Manila Water Foundation.
Almendras was Manila Water’s president and COO in 2019 before joining the Aquino administration a year later.
He served as Foreign Affairs secretary, Cabinet secretary, and Energy secretary during the term of President Benigno Aquino 3rd.
Dela Cruz’s resignation came more than three months after Geodino Carpio left Manila Water as its COO to avail of early retirement.
During their tenure, Dela Cruz and Carpio dealt with the supply crunch that first struck the East Zone concession area in March, which affected some 1.2 million households in Metro Manila and Rizal province.