Valerie SolivenJerome CaingletEnergy Development Corporation (EDC), in a disclosure to the Securities and Exchange Commission, reported that its board of directors on June 14, 2023 approved several management changes.
Effective July 1, 2023, Federico R. Lopez transitioned from his role as EDC chairman and chief executive officer (CEO) to being solely chairman of the board of directors. Taking his place as EDC CEO is Giles Puno, who is presently a member of the board of directors; he will also serve as vice chairman of the company effective on the same date.
Richard Tantoco stepped down as president of EDC due to health reasons, but he will remain a member of the board of directors. Jerome Cainglet, who is currently the chief operating officer (COO), will serve as EDC president.
In a separate statement, EDC said Cainglet has been with the Lopez Group for almost 33 years, more than 30 years of which were spent in the power and energy group. He has worked with Tantoco for decades, beginning with the Malampaya gas-to-power project in the 1990s.
Joaquin Quintos IV tendered his resignation as director of EDC in order to focus on his duties and responsibilities in the companies under the Lopez Group’s healthcare industry, in particular Asian Eye Institute, Pi Health Inc. and the recently acquired The Medical Services of America (Philippines) Inc. Cainglet took his place as a director and for Quintos’ unexpired term.
Rockwell Land Corporation, meanwhile, announced the appointment of Valerie Soliven as its new president and COO also during its June 14 annual stockholders’ meeting, succeeding Nestor J. Padilla. Soliven had previously served as executive vice president and chief revenue officer of the residential development team. She holds a Bachelor of Science degree in Hotel and Restaurant Administration from the University of the Philippines and has completed the Leadership Excellence through Awareness and Practice program in INSEAD Singapore and the Management Development program at the Asian Institute of Management.