BIZ BUZZ: Plot twist in Alabang
Citing personal reasons, including the desire to spend more time with his family, Jesulito A. Manalo has resigned from his post as chair of the board of prestigious Alabang Country Club Inc.
Sounds straightforward enough.
After all, Manalo said in his July 20 letter to the Alabang Country Club board that he would likely be spending a good part of his time in the United States and Canada where some of his loved ones are based, thus would take his attention away from performing his role as chair.
Nevertheless, his departure raised not a few eyebrows given that the club has been dealing with a raging internal squabble.
So they are speculating that there is more to his resignation that meets the eye, even as a revamp has ensued.
To recall, Biz Buzz earlier reported that some members and shareholders of the elite club including Salvador L. Lacson and Exequiel Lampa had demanded the board – including Manalo, president Joaquin A.A. Bengzon, vice president Ferdinand Raquelsantos and treasurer Mariano Diokno Jr. – to produce records pertaining to the compensation, benefits and other renumeration of club manager Rafael R. Llamas.
The demand for inspection and production of corporate records coursed through counsel DivinaLaw said that despite written requests for reports on the “substantial increases” in Llamas’ compensation, “no meaningful response has been received” as of early last month.
Perhaps for some of these disgruntled members, Manalo’s recent resignation is response enough.
******
Get real-time news updates: inqnews.net/inqviber
