Metro Pacific Investment announces retirement of Jose Maria Lim as president and CEO; Manny Pangilinan to replace him
Metro Pacific Investment Corp. (MPIC) president and CEO Jose Ma. "Joey" Lim will soon be vacating his post in the infrastructure conglomerate but will remain part of MPIC's aggressive business development activities as a consultant of the group and a Board Member of the company.
In a disclosure to the Philippine Stock Exchange (PSE) on December 3, the infrastructure conglomerate announced Lim's retirement effective December 31, "Please be informed that Mr. Jose Ma. K. Lim will be retiring from his position as President and CEO of Metro Pacific Investments Corporation (MPIC) effective December 31, 2021. Mr. Lim will continue to be a Board Member of the company. There are no matters relating to his retirement that need to be brought to the attention of the shareholders of MPIC. "
The conglomerate added, "Mr. Lim has been part of the group for 26 years and has been instrumental in the inception of MPIC and has successfully grown MPIC to its current portfolio during his almost 15-year stint with the company."
"His stellar performance was recognized, as shown by awards and recognitions he received as Best CEO from Institutional Investor (Rest of Asia, Industrials, Sell-side) and Corporate Governance Asia," MPIC also noted.
Manny V. Pangilinan, currently the chairman of MPIC, will be taking over Lim's position as president and CEO effective January 1, 2022.
Earlier this year, Pangilinan stepped down as president and CEO of telecommunications giant PLDT but stayed as its chairman of the board.
MPIC is an infrastructure holding company with a diversified portfolio that includes energy, toll road operations, water, healthcare, light rail, and logistics.