SP New Energy Corporation has announced significant changes in its leadership, marking a pivotal moment in the company's strategic direction. Manuel Pangilinan has resigned from his position as President and CEO, citing personal reasons for his departure. Emmanuel Rubio has been appointed as his successor. Rubio, who recently took over as head of Meralco PowerGen Corporation, the power generation arm of Manila Electric Co., brings a wealth of experience following his tenure as President and CEO of Aboitiz Power Corp. He has also been elected as a director of SP New Energy, filling the vacancy left by Rochel Donato Gloria's resignation.
In another key leadership shift, Dominador Camu, Jr. has stepped down as Chief Operating Officer. Dennis Jordan has been named as the new COO, expected to drive the company's operational efficiencies and growth initiatives forward.
Further strengthening its renewable energy portfolio, SP New Energy announced the assignment of rights, titles, and interest in the Terra Solar Project to Terra Solar Philippines, Inc. (TSPI). To support TSPI's application for an increase in authorized capital stock, SP New Energy has subscribed to 1,051,850,000 TSPI shares. This move underscores the company's commitment to expanding its investments in sustainable energy solutions.
These strategic leadership and operational changes reflect SP New Energy's dedication to enhancing its organizational framework and supporting its ambitious renewable energy goals.