Ex-NEDA chief now onboard D&L Industries

Metro Manila (CNN Philippines, June 5) — Karl Kendrick Chua, who was socioeconomic planning secretary during the Duterte administration, is the new independent director of a listed plastic and food input producer.

In a disclosure Monday, D&L Industries welcomed Chua to the group’s board of directors.

Chua was also an undersecretary at the Department of Finance, and had a stint with the World Bank as an economist.

“He brings a fresh perspective with his distinguished experience as an economist, working for the World Bank for over a decade and serving the government in various strategic leadership roles thereafter,” D&L President and CEO Alvin Lao said.

“With independent directors continuing to hold a majority of our Board, the company remains committed to upholding good governance and transparency,” he added.

The company also announced a dividend of 30 centavos per share consisting of a regular cash dividend of 24 centavos per share plus a special cash dividend of 6 centavos per share to shareholders of record as of June 20. Payment will be made on July 14.