Lopez-led First Gen Corp. has announced the resignation of Richard B. Tantoco, its executive vice president, effective July 1, 2023, due to medical reasons.
However, Tantoco will continue to serve as a member of the board of directors of FGEN.
Additionally, Tantoco will step down as the president of Energy Development Corp. (EDC), a subsidiary of First Gen, while retaining his position as a board member.
In a transition of leadership, Federico “Piki” R. Lopez will move from his current role as chairman and CEO of EDC to solely assume the position of chairman, starting July 1.
Joaquin E. Quintos IV, a director of EDC, tendered his resignation to concentrate on his responsibilities within healthcare companies under the Lopez Group, particularly Asian Eye Institute, Inc., PiHealth, Inc., and the recently acquired The Medical Services of America (Philippines) Inc.
Despite these changes, the remaining directors, who still form a quorum, have elected Jerome H. Cainglet, the COO of EDC, as a director, effective from July 1, 2023, to fulfill the remainder of Quintos’ term.