MANILA, Philippines — Tycoon Dennis Uy on Wednesday stepped down as the chief executive officer of Dito Telecommunity Corp.
He is replaced by Eric Alberto, president of Dito CME, the information and communications technology sector of Uy’s Udenna group.
Uy will remain as the chairman of Dito Telecommunity.
“Eric’s wealth of experience in senior capacities in the banking and telecoms sectors spanning several decades, will be very valuable in his new role as Dito Tel CEO. His appointment comes at an opportune time as we continue to maintain the Company on a high-growth trajectory,” Uy said in a statement.
“With the recent equity infusions at the Dito CME level and Dito Tel's signing of the US$3.9 billion long-term project finance facility, we have further confidence in Dito CME and Dito Tel achieving their business plan targets at the soonest possible time," he added.
Alberto is a former top executive of Dito’s rival, PLDT Inc., before transferring to DITO CME in 2020.
Meanwhile, Dito CME's chief operating officer, Donald Lim, will temporarily serve as the acting president.
Dito Telecommunity began operating in Visayas and Mindanao in March 2021, then expanded to Luzon, including Metro Manila, in April 2021.