DAVID J. NICOL, chief financial officer of Metro Pacific Investments Corp. (MPIC), is leaving his post by the end of the month.
The company told the exchange on Thursday its board of directors has accepted Mr. Nicol’s decision to retire effective Nov. 30. He will remain an advisor to the board for the next 12 months for transition.
As replacement, the board elected June Cheryl A. Cabal-Revilla as chief financial officer, chief sustainability officer and board member beginning Dec. 1.
Ms. Cabal-Revilla is currently chief sustainability officer, senior vice-president and group controller at the PLDT Group and chief finance officer of Smart Communications, Inc.
Prior to his retirement, Mr. Nicol was also executive vice-president and director at MPIC.
“Mr. Nicol does not have any disagreement with the board of directors of MPIC, and there are no matters relating to his retirement that need to be brought to the attention of the shareholders of MPIC,” the company noted.
Mr. Nicol first crossed paths with MPIC Chairman Manuel V. Pangilinan in 1991 through First Pacific Co. Ltd. Mr. Pangilinan is the managing director and chief executive officer of the Hong Kong-based firm. Mr. Nicol joined MPIC in 2002.
MPIC is one of three Philippine subsidiaries of First Pacific, the others being PLDT Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains an interest in BusinessWorld through the Philippine Star Group. — Denise A. Valdez