Helen Yuchengco Dee resigns as EEI Corp. chair
MANILA, Philippines — Helen Yuchengco Dee stepped down as chairperson of EEI Corp., days after the company sold a 20% stake to House Speaker Martin Romualdez’s private holding company.
In a disclosure sent to the Philippine Stock Exchange on Wednesday, the Yuchengco-led EEI said that they accepted Dee’s resignation, which was effective on Tuesday.
The Yuchengco Group sold a 20% stake in EEI for P1.25 billion to Romualdez’s private holding company at the end of April. RYM is the parent company of listed media firm Prime Media Holdings, Inc.
The move also entailed relinquishing her seat on the board of directors as well. Dee cited personal reasons for exiting the company’s helm.
The EEI disclosure also indicated that the move saw Dee step down as chairperson of the executive committee and the compensation & stock option committee.
Following her exit, Lorenzo Tan was elected chairman of the board. — Ramon Royandoyan
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