Tiu resigns from Ever Gotesco, Infradev

Businessman Antonio Tiu has resigned from his posts at the helm of listed companies Ever Gotesco Resources and Holdings Inc. and Philippine Infradev Holdings Inc., the company putting up the Makati Subway project.

Tiu said he wants to focus on agriculture especially with the growing importance of agriculture and food security in the country today.

“We would like to inform you that Antonio Tiu has resigned as director/ president/CEO of Ever Gotesco Resources and Holdings Inc. effective today, Feb. 16, 2023 due to his need to focus on his agricultural business,” Ever said in a disclosure yesterday.

He also resigned as president and

CEO of Philippine Infradev.

“Too many opportunities in agriculture that I cannot possibly not optimize. With food security being very important at this point for our country,” Tiu told ABS-CBN News.

He said it is the best time to fully refocus his attention on agri-based projects and be bigger and more proactive in the sector.

Prior to his resignation, Tiu was president of Everwoods Green Resources and Holdings Inc., formerly Ever Gotesco and Philippine Infradev.

The latter is the developer of the Makati Subway project.

Despite the resignation, however, Tiu said the subway project, which will connect Makati to nearby cities, would proceed.

The $3.5-billion Makati Subway project is a 10-kilometer railway system to be built in Makati and is touted as the biggest PPP project for a local government unit.

The proposed subway would connect key points in Makati such as the current Central Business District along Ayala Avenue, the Makati City Hall, the Poblacion Heritage Site, the University of Makati, Ospital ng Makati and the other new business districts within the city.

Tiu’s agricultural business is through Agrinurture Inc., a listed exporter of agricultural products.