GERI prexy retires

MANILA, Philippines - Global-Estate Resorts Inc. (GERI), a subsidiary of property giant Megaworld, announced yesterday the retirement of its president, Ferdinand T. Santos, from his current position in the company.

GERI said Santos, who will turn 65 this year, retired as president of the company effective Feb. 28, 2015.

“I’ve been privileged to serve as president of the leading developer of master-planned integrated tourism estates in the Philippines,” Santos said.

“After more than two decades as president of the company, it’s time to transfer GERI’s operational helm to a new and younger generation,” he added.

GERI said Santos would remain as a director of the real estate firm and still serve as an advisor to management after retiring as president.

Santos has served as president of GERI since its incorporation in 1994 and its listing in the Philippine Stock Exchange the following year when it was still known as Fil-Estate Land Inc. (FELI).

GERI declined to disclose its new president, saying its board of directors will announce Santos’ successor in the coming days.