Listed property developer Cityland Development Corp. (CDC) on Wednesday announced the resignation of Congressman Eduardo C. Villanueva as independent director, citing personal reasons.
In a disclosure to the stock exchange, the company said its board accepted and approved Mr. Villanueva’s resignation, effective Dec. 10.
CDC also said the submission of his Securities and Exchange Commission (SEC) Form 23-B has been discontinued.
Mr. Villanueva is a lawmaker and representative of the Citizens’ Battle Against Corruption (CIBAC) Party-list.
The company likewise announced the resignation of Hazel Anne C. Paule as head of internal audit, effective Dec. 31, also due to personal reasons.
She will be replaced by Rudy Go, who will assume the role of senior vice-president and head of internal audit effective Jan. 1, 2026.
CDC also reappointed Emma A. Choa as executive vice-president and chief operating officer and Melita L. Tan as vice-president and treasurer.
The developer focuses on acquiring and developing land for residential, office, commercial, institutional, and industrial use.
Its projects include the 50-story CityNorth Tower condominium in Quezon City and the 24-story Pioneer Heights 1 condominium in Mandaluyong City.
CDC shares closed down 1.85% or one centavo at P0.53 on Wednesday. — Beatriz Marie D. Cruz
