DENNIS UY RESIGNS AS PRESIDENT, STAYS AS CHAIR OF DITO HOLDING FIRM
Davao-based tycoon Dennis Uy quit his post as president of Dito CME Holdings Corp. on Tuesday.
In a disclosure to the stock exchange, Dito said the holding firm’s board of directors accepted Uy’s resignation, who will still sit as chairman of the company.
Ernesto Alberto, who is already with Dito two years ago from being an executive of PLDT Inc., will serve the unexpired term of Uy.
The revamp comes at a crucial time for Dito, which has sought a delay on the technical launch of its telco venture, Dito Telecommunity, originally scheduled last month.
Instead, regulators will now examine Dito’s compliance with mandated speeds and coverage by March 2021 ahead of its expected market launch.
Dito’s entry is in response to President Rodrigo Duterte’s tirades against the existing duopoly of PLDT and Globe Telecom Inc. over the telcos’ sloppy service.