DABAWENYO business tycoon Dennis A. Uy has resigned as president of Dito CME Holdings Corporation (Dito CME) effective August 16, 2020.
In a public disclosure to the Philippine Stock Exchange on August 14, Ernesto R. Alberto will now be appointed as president of Dito CME for the unexpired term of Uy effective August 17, 2020.
Alberto is a former executive of PLDT where he held the position of chief revenue officer before resigning in 2019.
On July 28, 2020, Alberto was nominated and elected as independent directors of the company during Dito CME's Annual Stakeholders' Meeting on July 28, 2020 via videoconferencing.
In a statement the company said the change "shall foster an appropriate balance of power, increased accountability, and better capacity for independent decision-making."
Uy shall remain as chairman of the board and chief executive officer of Dito.
The company added that "The Board's nomination committee is currently in search of Mr. Alberto's replacement as independent director. The company shall advise the Philippine Stock Exchange as soon as a replacement is named."
Dito CME is the holding company of Dito Telecommunity Corporation, a consortium of Uy's Udenna Corporation and its subsidiary Chelsea Logistics Corporation, and Chinese state-owned China Telecommunications Corporation.
Dito Telecommunity Corporation is expected to begin its commercial operations by March 2021.
It is currently building its telecommunications infrastructure around the country.
In a recent interview with Department of Information and Communication Technology (DICT) Mindanao Cluster 3 regional director Erlito Tancontian, he said the company will be building 175 towers in Davao Region. This is around 10 percent of the 1,600 towers the company is building.
National Telecommunication (NTC)-Davao Region Director Nelson Cañete told SunStar Davao in a recent interview that the company is currently applying for the permit for the installation of towers in some areas they have identified.
"Wala ta kabalo sa ilang timeline, pero naa na sila'y lot acquisition nga ginapahigayon. Aware ko kay tungod invited ko sa ilang committee hearings didtoa sa Nabunturan LGU (local government unit) (We do not have a definite timeline of their construction, but I'm aware they are currently conducting a lot acquisition in that area. I am aware of this because I was invited during a committee hearing in Nabunturan)," Cañete said.
Tancontian said Dito committed to serve around 25 to 27 megabits per second (mbps) to about 30 percent of the whole population in the entire country for its first year of operation.