In a disclosure to the stock exchange on Friday, Vivant also announced that Emil Andre M. Garcia, who is senior vice president for power, will take over the post of Mr. Sarmiento as president beginning Feb. 7.
Mr. Sarmiento said it is challenging to head a business in a landscape that went through drastic changes due to the coronavirus disease 2019 pandemic and the onslaught of Typhoon Odette. The senior Mr. Garcia, who will be turning 65 years old in February, said in a statement on Friday: “I’m proud of being part of the team that made this small holding company of five employees to a conglomerate of several companies with interests in different industries.
As of the third quarter of 2021, Vivant posted an attributable net income of P1.25 billion, up 6.8% from P1.17 billion in the same period in 2020. —
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