PHINMA Energy Corporation announced the retirement of Francisco L. Viray as Director and President & Chief Executive Officer; resignation of Pythagoras L. Brion, Jr. as Senior Vice President & CFO as per agreement on the sale of PHINMA Energy to AC Energy, but remains as a Director of the company; resignation of Nanette P. Villalobos as Treasurer as per agreement on the sale of PHINMA Energy to AC Energy; retirement of Rizalino G. Santos as Senior Vice President - Power Business; retirement of Raymundo A. Reyes, Jr. as Senior Vice President and resignation of Danielle R. del Rosario as Assistant Vice President - Marketing and Sales due to personal reasons. The company has elected John Eric T. Francia as Director and President & Chief Executive Officer; Maria Corazon G. Dizon as Treasurer and Chief Financial Officer; Gabino Ramon G. Mejia as Head of Plant Operations; Roman Miguel G. de Jesus as Head of Business Operations. The executive changes are effective May 15, 2019.

Mr. John Eric T. Francia joins the Executive Committee as Member to replace Dr. Francisco L. Viray. Mr. Francia is the President and Chief Executive Officer of AC Energy Inc. He is Managing Director and member of the Management Committee of Ayala Corporation since 2009. Mr. Francia is a Director of Manila Water Company Inc. He is also a member of the Board of Directors of the following companies within the Ayala Group: Purefoods International Limited, AC Education Inc., AC College of Enterprise and Technology Inc., AC Ventures Holding Corp., Ayala Aviation Corporation, Zapfam Inc., Northwind Power Development Corporation, North Luzon Renewable Energy Corporation, Light Rail Manila Corporation, AC Infrastructure Holdings Corporation, MCX Tollway Inc., and other several companies.

Ms. Dizon is the Chief Finance Officer of AC Energy Inc. and Head of AC Energy Retail. She previously held positions with Ayala Land Inc. as Head of ALI Capital Corp., Head of Business Development and Strategic Planning of the Commercial Business Group, Head of Asset Management Group of Shopping Centers, Head of Control and Analysis, Head of Investor Relations as well as Chief Financial Officer of Residential Buildings, Office Buildings and Shopping Centers groups. Ms. Dizon is a Certified Public Accountant.

Mr. Mejia is the Senior Vice President, Head of the Asset Management Group of AC Energy Inc., Executive Vice President for GNPower Kauswagan Ltd. Co., President & CEO of Northwind Power Development Corporation (NorthWind) and North Luzon Renewable Energy Corp. (NLR), Chairman of Montesol Solar Inc. and President of Negros Island Solar Power Inc. (IslaSol) and San Carlos Solar Inc. (Sacasol). Mr. de Jesus is the Head of International Business of AC Energy Inc. He is a former President and CEO of North Luzon Renewable Energy Corporation and former Head of the Retail Electricity Supply group of AC Energy Inc. Francisco L. Viray retired as Director and President & Chief Executive Officer.

Pythagoras L. Brion, Jr. retired as Senior Vice President & CFO. Nanette P. Villalobos retired as Treasurer. Rizalino G. Santos retired as Senior Vice President - Power Business.

Raymundo A. Reyes, Jr. retired as Senior Vice President. Danielle R. del Rosario retired as Assistant Vice President - Marketing and Sales.