Philippines’ Suntrust Resort Holdings has approved the nomination of veteran independent director Eugenio B. Reducindo to remain on the Board.
Elected first in 2015 as Director, Reducindo was reelected in 2017 and repeatedly reelected the following years by shareholders for his knowledge of the company’s operations and extensive experience in the food service industry.
Prior to his role in Suntrust, Reducindo was the Managing Director of Choice Gourmet Banquet, Inc., which managed McDonald’s outlets throughout the nation and had previously managed restaurants such as Shanghai Bistro and SoHo Tea House. He has overseen 16 McDonald’s outlets in Metro Manila, Cebu and Iloilo since 2007.
Reducindo’s previous experiences also included Branch Manager at Golden Arches Development Corp, Operations Consultant for McDonald’s Egypt and Assistant Manager at Makati Shangri-La.
Suntrust Resorts owns the Westside City casino in Manila, which is worth $1bn. The company’s previous update was the approved loan worth $17m for said Westside City casino project from its parent company LET Holdings.
LET Holdings' latest updates include its decision to sell off its stakes in Russian casino Tigre de Cristal via Summit Ascent, LET’s subsidiary, as well as its Japanese assets. It will focus more on its Philippines’ development, which would be Suntrust’s Westside City.
