PT&T names new CEO

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The Philippine Telegraph and Telephone Corporation (PT&T) has formalized the election and appointment of James G. Velasquez as the company’s new president and chief executive officer, replacing Benjamin M. Bitanga.

In a disclosure to the stock exchange, PT&T said its board of directors elected and appointed Mr. Velasquez in a special meeting held on Thursday, June 28. His new position will be effective starting July 2.

Mr. Velasquez was a member of the telco company’s board of directors since March 1 this year. That same month, the company has announced a shake-up of its board, with two of its directors quitting amid its bid to become the country’s third biggest telco player. PT&T then said Mr. Velasquez is set to replace Mr. Bitanga after the latter stepped down from his position.

Mr. Velasquez has almost 30 years of experience in the information technology (IT) business management.

Prior to his stint as a board member of PT&T, he was a senior executive for IBM Global Technology Services, Asia Pacific. He was also the president and country general manager of IBM Philippines for six years. He was also the regional general manager for IBM ASEANA/SA.

PT&T is one of the companies looking to be the country’s third major telco player. The company already has an agreement with the state-owned National Transmission Corp. (TransCo) for its “dark” fiber. — Denise A. Valdez