AYALA Land Inc. unit Prime Orion Philippines, Inc. (POPI) announced on Tuesday that the company had elected Rowena Tomeldan, who is concurrently the head of Ayala Land’s malls group, as new president and chief executive officer.
POPI, owner and developer of retail complex Tutuban Center in Manila, said in a disclosure that Tomeldan replaced Jose Emmanuel Jalandoni as president and CEO effective February 19.
Tomeldan is an incumbent director of POPI.
The management changes come after Ayala Land in January hiked its stake in POPI from 51 percent to 55.2 percent by acquiring an additional 202.77 million shares in the latter. Ayala Land paid nearly P500 million for the additional purchase of shares at P2.45 apiece.
Apart from helming Ayala Land’s mall businesses, Tomeldan has been serving as vice president of the company since 2005 and is the president of Laguna Technopark, Inc.
She is president and chairman of ALI Property Partners Corp. and is the chief operating officer of Ayala Malls Group.
Tomeldan earned a bachelor’s degree in Economics in 1983 from the University of the Philippines-Diliman, where she graduated cum laude.