Wassmer steps down as BDO director after Monetary Board appointment

NEW Monetary Board (MB) member Walter C. Wassmer has resigned from BDO Unibank, Inc.’s board of directors following his appointment to the central bank’s policy-making body.

“Please be informed that Mr. Walter C. Wassmer, nonexecutive director of BDO Unibank, Inc., has tendered his resignation from the bank’s Board of Directors effective July 16, 2024, due to his appointment as member of the Bangko Sentral ng Pilipinas Monetary Board,” BDO said in a disclosure to the local bourse on Monday.

Mr. Wassmer was appointed as an MB member by President Ferdinand R. Marcos, Jr. on July 12, following the resignation of two members who were involved in a scandal involving “ghost employees.”

MB members Anita Linda R. Aquino and V. Bruce J. Tolentino both resigned on June 30, a Bloomberg report said. Mr. Wassmer will serve the unexpired term of Mr. Tolentino, or until July 2026.

Mr. Wassmer was elected to BDO’s board on April 22, 2022, based on his profile on the bank’s website. — AMCS