Wednesday, April 24, 2013

Philippine Long Distance Telephone Co. on Tuesday announced a reorganization of its management team handling various units, including broadcast firm TV5, as parent company First Pacific Co. Ltd. recruited one of its top executives.

PLDT chairman Manuel Pangilinan, who also serves as managing director of Hong Kong-based First Pacific, named Noel Lorenzana, currently the head of PLDT's individual business unit, as the new president and chief executive of MediaQuest Holdings Inc. and its subsidiaries, including TV5.

Lorenzana replaced Ray Espinosa who was promoted as associate director of First Pacific and the PLDT Group's head for government and regulatory affairs and its communications bureau effective June 1.

MediaQuest is the PLDT Group's investment vehicle in media companies, including several newspapers, television and radio stations, cable TV, as well as Internet companies.

"Noel faces a tough job as he takes on the challenge of turning around TV5, while maintaining the growth momentum at Cignal TV towards leadership in the pay-TV industry," Pangilinan said.

"Our multimedia strategy is crucial to the future of TV5 and of the group. We extend to, and I assure, Noel our full confidence and unstinting support," Pangilinan said.

Lorenzana will also head the newly created multimedia office of the PLDT Group. PLDT appointed Charles Lim, the chief of operations of Digitel Mobile Philippines Inc., as the new head of its individual business, in place of Lorenzana.

Meanwhile, Espinosa was tasked to assist the First Pacific Group on new investments in the Philippines and in the region, according to Pangilinan.

By Lailany P. Gomez

Espinosa will also retain his directorships in PLDT, Manila Electric Co., Metro Pacific Investments Corp. and MediaQuest.

Pangilinan said the new appointment would "bring Ray's experience and expertise in telecommunications, information technology, media, and broadcasting-including his wealth of knowledge in national and regional regulatory frameworks-to the highest level of our group."

"This will serve the Group well in navigating the legal and regulatory environment where we will need and develop greater synergies and dynamism in all those areas where Ray is strong," he said.

PLDT said the appointments formed part of its strategic goal to transform itself into a communications and multimedia services group.

"As part of this process, we are constantly assessing and reassessing our management team so as to find the best fit for individual management and executive talents with PLDT's overall and specific needs," Pangilinan said.

"The movements in MediaQuest and in PLDT ensure that our operations proceed smoothly and seamlessly. A good management bench affords you that opportunity and, with this development, we look forward to even more dynamic days ahead for First Pacific, PLDT, and MediaQuest. Changes of this magnitude require our complete support in order to be effective," Pangilinan said.

By Lailany P. Gomez