Dela Cruz quits as Manila Water head, Almendras to replace him

August 9, 2019

Manila Water president and chief sustainability officer Ferdinand Dela Cruz resigned, the water concessionaire announced Friday.

In a statement, Manila Water said Dela Cruz will be replaced by September by Jose Rene Almendras, who will be chief executive officer.

"Our Board of Directors, at its meeting held this afternoon, accepted the resignation of Mr. dela Cruz and elected Mr. Jose Rene Gregory D. Almendras as President, Chief Executive Officer, and Chief Sustainability Officer effective 01 September 2019, as endorsed by our Nomination Committee," the statement read.

Almendras, who was named as sustainability champion by the World Economic Forum in 2011, was Manila Water's president in March 2009.

According to Manila Water, during Almendras' term as president and chief executive officer, he was "instrumental for the expansion and growth of the company beyond the East Zone." 

"During his term, the company was awarded as one of the best managed companies in Asia, the best in corporate governance, one of the greenest companies in the Philippines, and was hailed as world's most efficient water company," the statement added.

Fernando Zobel de Ayala's appointment as chairman of Manila Water's executive committee was also approved by the board. He takes over from Almendras starting September.

Sherisa Nuesa was also appointed as member of Manila Water's executive committee. Cristina Eloisa Baclig/DMS