MANILA, Philippines — Metro Pacific Investments Corp. (MPIC)’s Jose Ma. K. Lim is stepping down from his post as the infrastructure conglomerate’s president and CEO, but will remain part of the group’s aggressive business development activities.
MPIC said Lim, a multi-awarded CEO, would be retiring from his position as president and CEO effective Dec. 31.
Lim will remain as a board member of the company, and will continue to be a consultant of the group and “help with the more aggressive business development activities of MPIC.”
“There are no matters relating to his retirement that need to be brought to the attention of the shareholders of MPIC,” the listed conglomerate said in a disclosure.
Business titan Manuel V. Pangilinan will remain as MPIC chairman, and will also take the role of president effective Jan. 1 next year.
Lim joined the MPIC Group, then Metro Pacific Corp. (MPC) in 1995 as treasury vice president of the Fort Bonifacio Development Corp., at the time a subsidiary of MPIC.
In 2000, he was appointed as its CFO and a year later assumed more responsibility in the company as he concurrently served as vice president and CFO of MPC.
“Lim has been part of the group for 26 years and has been instrumental in the inception of MPIC and has successfully grown MPIC to its current portfolio during his almost 15-year stint with the company,” MPIC said.
“His stellar performance was recognized, as shown by awards and recognitions he received as Best CEO from Institutional Investor (Rest of Asia, Industrials, Sell-side) and Corporate Governance Asia,” it said.
MPIC’s businesses include toll roads and infrastructure through Metro Pacific Tollways Corp., hospitals through Metro Pacific Hospital Holdings Inc., water through Maynilad Water Services Inc., power distribution through Manila Electric Co., transport through Light Rail Manila Corp., and logistics through MetroPac Movers Inc.