Philippine Long Distance Company’s (PLDT) president and CEO Napoleon L. Nazareno will step down by the end of the year, the telco announced on Tuesday.
In a disclosure, PLDT said that Nazareno’s retirement would take effect on Dec. 31, 2015. No reason was given for his departure, but Nazareno was due for mandatory retirement last year.
“We disclose the retirement of Mr. Napoleon “Polly” Nazareno as President and CEO of PLDT and Smart Communications, Inc, (“Smart”) effective 31st December 2015,…,” PLDT said.
Nazareno will be appointed as strategic advisor to the PLDT group after his retirement takes effect. He will also remain a director of PLDT until a replacement is apointed.
He will remain non-Executive Director of First Pacific Company Limited and a member of the Board of Directors of Rocket Internet. MARIA LAURA ANGELES