Two Board Members of Philippine Airlines Quit
Two board members of Philippine Airlines Inc. have resigned, the latest officials of the country’s flag carrier to leave the company in recent weeks.
Amando Tetangco, the two-term former governor of the Bangko Sentral ng Pilipinas, tendered his resignation as independent director, according to The Philippine Star, which was first to report the news on Friday, December 6.
Before that, board member and former Marcos legal counsel Estelito Mendoza also quit the company last November 20.
Tetangco chaired the company's Corporate Governance Committee, of which Mendoza was one of the members.
In a disclosure to the Philippine Stock Exchange, Cecilia Pesayco, corporate secretary of PAL Holdings Inc., the parent company of PAL Inc., confirmed the resignations.
“As stated in the news article, said resignations will be taken up in the forthcoming Board of Directors meeting,” Pesayco said in the disclosure.
According to the Philippine Star, other key officials of Philippine Airlines have left the company in recent weeks, including Angelito Alvarez, senior vice president for planning and commercial group; Siegfrid Mison, senior vice president for legal and PAL general counsel; Datuk Bernard Francis, chief commercial group adviser; and Ismael "Nicky" Gozon, senior vice president for operations.
Most of those who left have been with the company for years.
The resignations follow the death of PAL Holdings Inc president Lucio Tan Jr. early last month.
As of posting, PAL president Gilbert Sta. Maria, who was appointed by Chairman Lucio Tan last July, remains in the position.