Jesus P. FranciscoJesus P. Francisco will retire as president and chief operating officer (COO) of Meralco effective January 31. He will remain on the board of directors until the next stockholders’ meeting in May, and retain his positions in Meralco subsidiaries.
Francisco was elected president by the Meralco board in June 2001. A double-engineering degree-holder (electrical and mechanical) from the University of the Philippines,
he joined Meralco in 1971 as a management trainee upon completing his MBM with distinction from the Asian Institute of Management (AIM). He served under four Meralco presidents in various capacities, becoming executive vice president and COO in 1998.
Happy and productive years “I spent many happy and productive years in Meralco and now I look forward to what my retired friends say is the best that is yet to come,” says Francisco.
Chairman and CEO Manuel M. Lopez (MML), who has worked closely with Francisco for the past 23 years, said on behalf of Meralco: “We are all tremendously grateful for Chito’s contributions to the company. His retirement is well earned and richly deserved."
The first engineer-president of Meralco, Francisco steered the company through some of its most challenging years, including last year’s controversies with the GSIS. Now, in addition to pursuing his community service involvements, Francisco will continue to work with Meralco as a consultant. He will also keep his position in the company’s management committee and in several subsidiaries.
Changes Meanwhile, former Manila North Tollways Corporation president Jose de Jesus was formally elected as Meralco president during the January 26 board meeting that also saw him installed as one of the company’s five new board members. His appointment takes effect Feb. 1.
The other directors are San Miguel Corp.’s Ramon Ang, Eduardo Cojuangco, Estelito Mendoza and Aurora Calderon, who replaced GSIS president Winston Garcia, GSIS chairman Bernardino Abes, Daisy Arce and Jeremy Parulan. Felipe Alfonso, a Lopez Group nominee to the previous year’s board, also stepped down as Meralco director.
MML said that with the new changes, Meralco stakeholders can expect the same high level of management expertise that Meralco provides.
“I am sure that many in the business community view these changes as a positive development since the new members of the board bring with them a wealth of experience in ensuring the continued strength and viability of Meralco.” (Meralco Corporate Communication)