Philippines operator PLDT revealed in a stock market filing four executives left the company including its CFO, chief of procurement and network head following a months-long probe into a massive budget overrun disclosed in December 2022.

PLDT stated CFO and chief risk management office Anabelle Chua and network head Mario Tamayo filed for early retirement, while chief procurement officer Mary Rose Dela Paz voluntarily resigned.

VP Alexander Kibanoff opted for a staff reduction programme.

PLDT offered no detail on the reason for the “voluntary separation” from service.

When it released 2022 results in late March, PLDT stated an external review of the PHP48 billion ($886.7 million) budget shortfall identified no evidence of fraud, intentional concealment or bad faith conduct on the part of any employee.

PLDT explained at the time it agreed deals with its major vendors covering around 80 per cent of the overrun to reduce its outstanding commitments to about PHP33 billion.

The operator said it planned talks with other vendors to reach similar deals.