8990 Holdings, Inc. announced on Wednesday the passing of president and chief executive officer Willibaldo J. Uy.

The listed property developer told the stock exchange yesterday Mr. Uy had lost his life on Oct. 15.

“The Company deeply mourns the passing of Mr. Willibaldo J. Uy. The Company will continue to remember and appreciate his achievements for, and contributions to, the Company,” it said.

Mr. Uy’s post will be filled by Alexander Ace Sotto, chief operating officer of 8990 Holdings, until the appointment of a new president.

Mr. Uy joined 8990 Holdings as independent director in August 2012. He became its chief operating officer in February 2016 and president and chief executive officer in January 2018.

Under his leadership, 8990 Holdings posted a 13% jump in earnings, ending 2018 with a net profit of P4.67 billion on the back of a 15% rise in revenues to P11.75 billion.

While he served as the top official of 8990 Holdings, Mr. Uy held concurrent positions within the Phinma Group of Companies.

He was formerly the president and chief executive officer of Phinma Property Holdings Corp., president of Asian Plaza Inc., senior vice-president of Philippine Investment Management (Phinma), Inc., executive vice-president of T-O Insurance Brokers, Inc., and vice-president and treasurer of Mariposa Properties, Inc.

Mr. Uy was also a member of the board of directors of Microtel Development Corp., Phinma BPO, Union Galvasteel Corp., Trans-Asia Renewable Energy Corp., Phinma Foundation, Inc. and Mariposa Foundation, Inc.

He likewise sat as president and chairman of the board of Rockwell Center Association, Inc. He was also the managing director of CMTC International Marketing Corp. and treasurer and director of American Home Appliance Marketing Corp.

Mr. Uy finished an executive program from the National University of Singapore and University of California, Los Angeles in 1992. He earned his master’s degree in business administration from the Ateneo Graduate School of Business in 1986, and obtained his degree of Bachelor of Science in Marketing Management from the De La Salle University in 1979. — Denise A. Valdez