Ex-Ateneo president resigns from MVP company

Posted at 09/25/12 1:38 PM

MANILA - Fr. Bienvenido F. Nebres, Ateneo de Manila University's (AdMU) president for 18 years, has resigned as independent director of the Pangilinan-led Philippine Long Distance Telephone Company (PLDT).

In a disclosure made at the local bourse, the publicly-listed firm said it accepted the resignation today.

It went on to note that “Nebres has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the company. His resignation is not expected to have any significant impact on the company’s current or future operations…”

Nebres succeeded Fr. Joaquin Bernas in 1993 as Ateneo President and went on to serve until June 1, 2011.

Nebres' resignation appears to be part of the falling out between businessman Manny Pangilinan and his alma mater.

Last week, Pangilinan wrote incumbent AdMU President Jett Villarin it is no longer supporting Ateneo because of the Jesuit school's stand on the Reproductive Health bill and mining.

Pangilinan, also CEO and managing director of First Pacific Limited, threatened to return to the holding company's headquarters in Hong Kong after he was dragged into another controversy involving the Scarborough Shoal dispute.

He was quoted as saying that, “Kung ako lang I’d go back to Hong Kong... ang gulo-gulo nyo.”