BENGUET Corp. on Thursday said Benjamin Philip G. Romualdez has stepped down as president and chief executive officer due to health reasons.
“The Board approved the early retirement of (Mr. Romualdez) as President and CEO of the company for health reason, and his resignation as director and vice-chairman of the Board of Directors, effective Aug. 23, 2017,” Benguet Corp. told the stock exchange.
The company noted Mr. Romualdez has been on leave since Jan. 27, 2014, which has been extended indefinitely until his early retirement.
Mr. Romualdez has been the president and CEO of Benguet Corp. since June 25, 1998; vice-chairman since July 21, 2011; and director of since May 26, 1992.
“To replace Mr. Romualdez, the Board elected Mr. Leopoldo S. Sison III as the President and Chief Executive Officer of the Company and appointed him as a Director in the Board of Directors,” the mining company said.
Prior to his election, Mr. Sison was senior vice-president of Benguet Corp.’s nickel operations.
Shares in Benguet Corp. slipped 0.54% to close at P1.83 apiece on Thursday. — Janina C. Lim
