Suntrust reelected independent director Reducindo

Suntrust Resort Holdings has nominated longtime Independent Director Eugenio B. Reducindo, with the Board approving the decision during its meeting on September 23, 2024, as disclosed in a Tuesday filing.

Suntrust, a Philippines-listed company, is currently developing the $1.1 billion Westside City integrated resort in Entertainment City, Manila, which is scheduled to open in the first quarter of 2025.

Reducindo, who has served as an Independent Director at Suntrust since October 2015, remains eligible for re-election under the company’s Revised Manual on Corporate Governance, which allows independent directors to serve for a maximum of nine cumulative years unless the Board provides a compelling justification. His reappointment underscores his continued value to the company.

The Board highlighted three key factors for his re-election: his proven independence, extensive expertise, and strong support from stockholders.

In addition to his role at Suntrust, Reducindo serves as the Managing Director of Choice Gourmet Banquet, Inc., where he oversees operations of 16 McDonald’s outlets across Metro Manila, Cebu, and Iloilo. His vast experience in managing quick-service and fine dining restaurants, coupled with his leadership skills, enhances his contributions to Suntrust.

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