PLDT president Alfredo Panlilio has stepped down as president and chief executive officer.

The Pangilinan-led telecommunications giant announced in their disclosure to the Philippine Stock Exchange (PSE), that Panlilio is retiring effective on December 31, 2023.

He is also said to be stepping down “due to health reasons.”

Meanwhile, PLDT chairman Manuel V. Pangilinan will take on the role as the telco’s president and CEO, effective January 1, 2024.

The telco said Pangilinan will be taking on the helm of PLDT “until such time as a new president and chief executive officer is appointed.”