The Ayala family is turning to one of its most reliable allies to help turn around Manila Water Corp.’s poor service reputation.
In a disclosure to the stock exchange, Manila Water said former Cabinet member Jose Rene Almendras is taking over as president and CEO, replacing Ferdinand Dela Cruz who resigned effective Aug. 31 for “personal reasons.”
“Mr. Almendras, prior to joining the government in June 2010, served as the company’s president and chief operating officer since March 30, 2009. It was during his time when the company achieved 100% customer satisfaction rating,” Manila Water said.
Manila Water said Almendras was instrumental for the expansion and growth of the company beyond the east zone.
During his term, Manila Water 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 hailed as the world’s Most Efficient Water Company.