Dennis Uy steps down as Dito CME president

MANILA, Philippines — Businessman Dennis Uy has stepped down as president of publicly listed Dito CME Holdings Inc., with former PLDT Inc. executive Ernesto Alberto taking his place.

Dito CME said in a stock exchange filing yesterday that Uy would remain as the company’s chairman and CEO.

Alberto is the former chief revenue officer of PLDT and president of ePLDT Group.

Dito CME, formerly ISM Communications Corp., said the change is seen to foster “an appropriate balance of power, increased accountability, and better capacity for independent decision-making.”

Alberto, who left PLDT in July last year, joined Uy’s group last month as independent director of Dito CME.

The company’s nomination committee is currently in search of Alberto’s replacement as independent director.

Uy’s group early this year also appointed former ABS-CBN executive Donald Lim as Dito CME chief operating officer.

Dito CME will own indirect interest in third telecommunications player Dito Telecommunity once the necessary Dennis Uy regulatory approvals are obtained and appropriate transfer documents are executed.

The holder of the government franchise, however, is Dito Telecommunity.

Lim earlier said Dito CME’s mandate is hinged on the pillars of e-services, e-payment solutions and digital content.

The company plans to invest in and partner with creative organizations and thought leaders to develop and distribute entertainment, sports and educational programs for various platforms.

It also intends to leverage on advertising solutions for its brand and business partners, as well as assets within the Udenna Group.