The holding company of third telecommunications player DITO Telecommunity Corp. appointed a former senior executive of rival PLDT Inc. as its new president.
DITO CME Holdings Corp. informed the stock exchange that during its special meeting the board of directors accepted the resignation of Dennis Uy as president and appointed Ernesto Alberto as the new president for the unexpired term of Uy.
“Considering that Uy continues to hold the position of chairman, the change shall foster an appropriate balance of power, increased accountability, and better capacity for independent decision-making,” the company said.
DITO CME added the board's nomination committee is currently in search of Alberto's replacement as independent director.
Also, upon effectivity of Alberto's appointment as president, Uy willl remain chairman and chief executive of the company.
Alberto stepped down from his post as chief revenue officer of PLDT Inc. and Smart Communications Corp. on June 30, 2019
DITO Telecommunity Corp., a joint venture between business magnate Dennis Uy and China Telecom, earlier said it was on track to commercially launch telecommunications by March 2021 or earlier.
The National Telecommunications Commission earlier issued a resolution extending the July 2020 technical audit under the certificate of public convenience and necessity provisions of DITO due to COVID-19 crisis.
Under the current extension, DITO is given six months to deliver the commitments for the technical audit requirements, including a speed of 27 megabits per second to cover 37 percent of the population.
Out of the 1,300 cell sites committed by DITO during its first year of operations, 300 towers were erected and active.
DITO is looking at a 30-percent market share within the first few years of operations.