A company as huge as the Manila Electric Co. (Meralco) needs the undivided attention of its managers, particularly its chief financial officer (CFO), according to businessman Manuel V. Pangilinan.

Pangilinan--who heads the Philippine Long Distance Telephone (PLDT) Group, which owns a 30.17 percent stake in Meralco--said that as far as he is concerned, Meralco's CFO should not hold a similar position in other firms.

"Meralco is too big. Whoever the CFO is should only be focused on it," noted the PLDT chairman.

Pangilinan did not say though if he will suggest a name for the position once Meralco's 11-man board conducts a meeting.

Currently, Ferdinand Constantino, who is affiliated with another major block in Meralco, the San Miguel Group, sits as CFO of the power firm. He has been in the post since February 1, 2009.

The 57-year-old official is currently the senior vice president, CFO and treasurer of San Miguel Corp., one of the country's diversified conglomerates. Constantino also holds a seat in the respective boards of San Miguel affiliates, including San Miguel Brewery Inc., Ginebra San Miguel Inc., San Miguel Properties Inc., San Miguel Yamamura Packaging Corp., Bank of Commerce, Magnolia Inc. and San Miguel Foods Inc.

When asked to comment on Constantino, Pangilinan said: "I don't know him that well. I have nothing against him."

Shareholders of Meralco have already submitted their respective nominees to the company's board. Elections will be conducted during Meralco's annual stockholders' meeting on May 26.

Pangilinan, joined by allies Ray Espinosa (president and chief executive of ePLDT Inc.) and Napoleon Nazareno (president and chief executive of PLDT), were nominated to the Meralco board to represent the PLDT group.

By buying a portion of Lopez-led First Philippine Holdings Corp.'s stake in Meralco, Pangilinan's group has aligned itself with the Lopez family, who is now entitled to only two seats in the utility's board, with a 13 percent stake.

Manuel Lopez, currently Meralco chairman, and Jose De Jesus, Meralco president, will represent the Lopez block.

Meanwhile, the San Miguel group, which controls 27 percent of Meralco, has nominated its president, Ramon Ang, and Atty. Estelito Mendoza, Mario Surio and Alan Ortiz to Meralco's board.

Nominated as independent directors are Artemio Panganiban, Vicente Panlilio and Pedro Roxas.

PLDT, through units PLDT Beneficial Trust Fund and Pilipino Telephone Corp., earlier acquired 30.17 percent of Meralco. It is now in talks with affiliate Metro Pacific Investments Corp. (MPIC) for the sale of the Meralco stake.

Both PLDT and MPIC are owned by Hong Kong-based First Pacific Co. Ltd.