Prime Orion elects new president and CEO

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Prime Orion owns Tutuban Center in the Divisoria Tutuban Complex, which sits on a 20-hectare property that has 60,000 square meters in gross leasable area. Photo: Facebook/TutubanCenter

The head of the Ayala Malls Group has been elected as the new president and chief executive officer of the company that owns and develops Tutuban Center.

In a disclosure to the stock exchange on Tuesday, Feb. 20, Prime Orion Philippines, Inc. (POPI) said Maria Rowena M. Tomeldan has been elected to lead the company, replacing Jose Emmanuel H. Jalandoni for the post. Ms. Tomeldan was also part of the company’s board of directors at the time of the election.

Ayala Land took over Prime Orion in 2016 when the former subscribed to 2.5 billion common shares of the latter at P2.25 each for a total of P5.63 billion.

In January, Ayala Land further tightened its grip on POPI by purchasing 202.77 million shares of the company worth P496.80 million from Genez Investments Corp. through a block sale at the Philippine Stock Exchange. — Arra B. Francia