Suntrust Resort Holdings has approved the nomination of longtime Independent Director Eugenio B. Reducindo.
The decision was made during a Board of Directors meeting on September 23, 2024, and was disclosed in a filing on Tuesday.
The Philippines-listed Suntrust is currently developing the $1.1 billion Westside City integrated resort in Entertainment City, Manila, which is set to open in the first quarter of 2025.
Reducindo has served as an Independent Director at Suntrust since October 2015. Under the company’s Revised Manual on Corporate Governance, independent directors can serve for a maximum of nine cumulative years unless the Board provides a compelling justification for re-election. His reappointment highlights his ongoing value to the company.
The Board cited three main reasons for his re-election: his demonstrated independence, deep expertise, and strong support from stockholders.
Reducindo is also the Managing Director of Choice Gourmet Banquet, Inc., where he oversees the operations of 16 McDonald’s outlets in Metro Manila, Cebu, and Iloilo. His extensive experience in managing both quick-service and fine dining restaurants, along with his leadership skills, further strengthens his role at Suntrust.
