Romualdez steps down

MANILA, Philippines - The president and chief executive officer of listed Benguet Corp. has decided to resign from his post due to health reasons.

In a regulatory filing, the company said its board has approved the early retirement of Benjamin Philip Romualdez effective Wednesday, Aug. 23.

He also stepped down as director and vice chairman of the company’s board.

Benguet Corp. said Romualdez has been on leave of absence from the company since January 2014 which was extended indefinitely until his early retirement.

Romualdez will be replaced by Leopoldo Sison III, who serves as the company’s vice president for nickel operations.

Romualdez also served as the president of the Chamber of Mines of the Philippines but had already stepped down earlier this month.

Former COMP legal and policy vice president Ronald Recidoro is temporarily officer-in-charge for the country’s mining group.

Benguet Corp. is among the 28 mining companies ordered for closure by former environment chief Gina Lopez in an intensified crackdown during her 10-month stint.

The company filed its motion for reconsideration but is yet to receive any decision on the matter.