THE retirement of Jaime J. Bautista as president and chief operating officer of Philippine Airlines (PAL) has been approved by its board of directors yesterday, and will be effective by the end of the month.
In a statement Monday, the flag carrier said its board has granted the request of Mr. Bautista to retire from his positions in PAL. He is set to leave by June 30.
鈥淚n a resolution initiated by Directors Atty. Estelito Mendoza and former BSP governor Amando Tetangco, the PAL Board expressed their gratitude and appreciation for Mr. Bautista鈥檚 dedication and commitment to the national flag carrier which he has been serving for more than 26 years,鈥 the company said.
鈥淭he PAL Board cited his efforts to steer PAL to greater heights through initiatives anchored on fleet modernization, flight route network expansion and service innovation,鈥 it added.
PAL Executive Vice-President Vivienne K. Tan, daughter of PAL Chairman and Chief Executive Officer (CEO) Lucio C. Tan, is set to assume Mr. Bautista鈥檚 post.
鈥淢y family and I express our gratitude and only wish for the best for Jimmy Bautista as he gears up for the next chapter of his life. As we transition to new management, I urge all of you 鈥 my Philippine Airlines family 鈥 to continue your primary focus: your work, your mandate in the company,鈥 Ms. Tan was quoted as saying.
The listed airline announced Mr. Bautista鈥檚 retirement last week, saying the outgoing PAL president wanted to 鈥渟pend more time with his family.鈥 鈥 Denise A. Valdez
