FIRST Philippine Holdings Corp. (FPH) appointed a new president after Elpido Ibañez stepped down from as concurrent chief operating officer, the company noted in a disclosure to the stock exchange.
Ibañez goes on retirement starting September 30.
He will be replaced by Francis Giles Puno, FPH’s former treasurer and chief financial officer, effective October 1.
Emmanuel Antonio Singson, on the other hand, will assume Puno’s former position as senior vice president, treasurer and CFO.
FPH is an industrial firm owned and led by the Lopezes, which serves as the holding firm for the family’s businesses in power generation, real estate, and manufacturing and construction.