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CEO Ferdinand dela Cruz leaves Manila Water
FILE: Former Manila Water Company, Inc. president and chief executive officer Ferdinand M. dela Cruz and Metropolitan Waterworks and Sewerage System (MWSS) Administrator Reynaldo V. Velasco answer questions regarding the water shortage in some parts of Metro Manila during a press conference at the MWSS office in Quezon City on Tuesday (March 26, 2019).
(PNA photo by Oliver Marquez)
The chief executive officer (CEO) and president of Manila Water Company, Inc. stepped down from his post.
According to its disclosure to the Philippine Stock Exchange on Friday, August 9, the Ayala-led water concessionaire said its board of directors accepted the resignation of Ferdinand dela Cruz which will take effect at the end of the month. It said dela Cruz cited “personal” reasons for departing from the company.
“Confirming that I have resigned as CEO of Manila Water effective Aug 31 and have opted to retire from Ayala Corporation now that our services are relatively stable, a new water resources roadmap is in place and a demand management plan has been initiated,” dela Cruz said in a statement.
“[I] will take a break first before charting my next journey. Thank you for your prayers and support all this time,” he continued.
Replacing dela Cruz is Jose Rene Gregory Almendras who will take over as president, CEO, and chief sustainability officer on September 1.
Almendras, who is currently the president and CEO of AC Infrastructure Holdings Corporation — another Ayala Corporation subsidiary, served as Manila Water’s president and CEO in 2009 before he was appointed by former President Benigno “Noynoy” Aquino III as Secretary of Energy in 2010.
“It was during his time when the Company achieved 100% customer satisfaction rating. He was instrumental for the expansion and growth of the Company beyond the East Zone,” Manila Water said.
Dela Cruz resigned after the Supreme Court (SC) fined Manila Water P921-million for violating the Philippine Clean Water Act when it supposedly failed to put up sewage lines and sewage treatment facilities. The SC also ordered the water firm to pay a fine of P322,102 for each day of non-compliance with the law.
Responding to this on Thursday, Manila Water said they have yet to receive an official copy of the SC’s decision.
“We are prepared to exercise all our legal options, including filing for a Motion for Reconsideration, within the prescribed time mandated by the law on receipt of the said order,” it said in its statement.
It can be recalled that last April, Manila Water’s chief operating officer (COO), Geodino Carpio, also resigned from his post, following the water crisis experienced in certain areas of the country.
