Philippines telco PLDT has announced its CEO Alfredo Panlilio will retire at the end of the year.

In a stock filing, PLDT confirmed that chairman Manuel Pangilinan will replace Panlilio.

Manila, Philippines
– Getty Images

PLDT stated that Panlilio is stepping down due to health reasons.

Panlilio has been CEO of the telco since June 2021, after returning to the company as EVP, chief revenue officer in 2019.

He was previously CEO of the business for six years between May 2004 and September 2010.

He has also worked at IBM, Meralco, and Smart Communications during his career.

Founded in 1928, PLDT (Philippine Long Distance Telephone Company) is the country's biggest telecoms company with more than 66 million mobile subscribers.