Former PLDT Chief Financial Officer (CFO) Anabelle L. Chua has been appointed as the Independent Director of food manufacturer Monde Nissin Corporation, replacing Romeo L. Bernardo who resigned upon his appointment to the Monetary Board of the Bangko Sentral ng Pilipinas. The company made the announcement in a disclosure to the Philippine Stock Exchange (PSE), stating that Chua will serve the remainder of Bernardo’s unexpired term or until the stockholders’ meeting next year. Chua has also been appointed as the Chairperson of the Board’s Audit Committee and as a member of the Board’s Risk and Related Party Transactions Committee, and Corporate Governance, Nominations, and Remuneration Committee.
In addition, Independent Director Nina Perpetua D. Aguas has been appointed as the Lead Independent Director, a member of the Board’s Executive Committee, and the Chairperson of the Risk and Related Party Transactions Committee. Meanwhile, the company’s board has approved the change in designation of Daniel Teichert from Chief Risk Officer to Chief Risk Management Officer.
Chua’s appointment to Monde Nissin Corporation comes after her “voluntary separation” from PLDT last April. This separation was part of the company’s probe into a P33 billion capital expenditure budget overrun. Chua, who served as Senior Vice President (SVP), CFO, and Chief Risk Management Officer at PLDT, availed of early retirement effective April 16, 2023. Other senior executives who left the company included SVP and Network Head Mario G. Tamayo, who retired effective April 14, 2023, and SVP and Chief Procurement Officer Mary Rose L. Dela Paz, who voluntarily resigned on the same day.
PLDT also disclosed the voluntary resignation of Vice President Wilson S. Bobier on April 16, as stated in his LinkedIn profile. Another executive, Vice President Alexander S. Kibanoff, availed of the company’s Manpower Reduction Program.
Last March, PLDT announced that its “forensic review of the circumstances surrounding the elevated capital expenditure commitments disclosed on December 16, 2022 is substantially complete.” The review, conducted by external counsel with the assistance of accounting and audit consultants, focused on the period from 2019 to 2022 and found no evidence of fraud, intentional concealment, or bad faith conduct on the part of any employee of the company, and no basis to restate the company’s historical financial statements.
