PT&T Corp. said Tuesday two of its key officers—chief operating officer Miguel Marco Bitanga and chief information officer Alberto Ambuyo—have resigned from the listed company, which is now seeking approval to resume trading on the Philippine Stock Exchange after a 20-year voluntary suspension.
The executives cited “personal reason” for quitting PT&T.
Bitanga also resigned as treasurer, chief marketing officer and director of PT&T.
PT&T has yet to name a replacement for the two executives, which it said “will be pursuing new initiatives within the Menlo Capital group, the parent company of PT&T, the publicly listed entity MRC Allied, Inc., digital media company Rappler, and other entities.”
“Together (Bitanga and Ambuyo), they have been instrumental in advancing PT&T’s mission and vision, playing pivotal roles in various key projects. This transition presents a significant opportunity for both PT&T and Menlo Capital as the entire group embarks on its strategic initiatives for the next ten years,” the statement said.
PT&T said Bitanga, Ambuyo and Reinhard Klocker, PT&T’s adviser for strategic projects and vendor management, will focus on driving forward key initiatives of the Menlo Capital group.
“As PT&T continues to evolve, we remain committed to ensuring a seamless transition while maintaining the highest standards of excellence. We have a robust succession plan in place and are confident that our strong management team will continue to lead the company toward achieving our goals. PT&T is well-prepared for this transition and remains focused on our mission,” PT&T said in a statement.
