• Manila Water president resigns; Almendras takes over

Ayala-led Manila Water Co. Inc. president and chief executive officer Ferdinand dela Cruz has resigned from his post as he opted for early retirement amid the firm’s still many unresolved water problems.

In a disclosure to the local bourse, the east zone concessionaire said its board of directors accepted Dela Cruz’s resignation as president, CEO, director and chief sustainability officer of the company effective Aug. 31.

“Confirming that I have resigned as CEO of Manila Water effective Aug. 31 and have opted to retire from Ayala Corp. now that our services are relatively stable, a new water resources roadmap is in place and a demand management plan has been initiated,” Dela Cruz said in a text message.

“I will take a break first before charting my next journey,” he said.

Dela Cruz is the second highranking Manila Water official who tendered resignation since the water supply mess in March.

It was in April the firm achieved 100 when Manila Water percent customer satisfaction COO Geodino Carpio rating. He left the firm to was also instrumental also avail of an early for the expansion retirement. and growth beyond

Dela Cruz will be the east zone. replaced by former Almendras will energy secretary concurrently serve as Jose Rene Almendras president and CEO who will serve of AC Infrastructure the company for the Holdings Corp. and second time after his Almendras as its senior managing brief stint as president and COO director and group head of in 2009. public affairs.

Manila Water said it was Manila Water continues to during Almendras’ time when face a challenging year following its failure to provide stable water supply in its concession area.

The Supreme Court recently ordered Manila Water to pay nearly P1 billion for its violation of the Clean Water Act.

“Manila Water has not received an official copy of the Supreme Court decision to-date. We are prepared to exercise all our legal options, including filing for a motion for reconsideration, within the prescribed time mandated by the law on receipt of the said order,” it said.

This is on top of the P1.15 billion fine slapped by the Metropolitan Waterworks and Sewerage System and its nearly P500 million voluntary bill waiver scheme.

Manila Water covers the east zone which encompasses parts of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila, as well as several towns in Rizal.

The company operates three other subsidiaries – Laguna AAA Water Corp., Boracay Island Water and Clark Water Corp.