President and CEO of SM Prime Holdings Inc. (SMPHI) Hans Sy will be leaving his post effective Oct. 1.
Sy, 61, announced his semi-retirement through a statement during the gathering of SM company executives which he annually hosts. He said that it was time to stop and ‘smell the roses.’ Industry reports said that Sy will devote his time to sports while also spending time with his family.
Ed Francisco, President of Sy-owned BDO Capital and Investment Inc., said that the decision of the long time president will not have a massive impact on the property giant. However, Sy is still expected to continue as director and chairman of the SM Prime executive committee.
Sy has been president since 2004 and has led the company into being one of the largest property developers in Southeast Asia.
SMPHI executive vice president and CFO Jeffrey Lim, 55, was handpicked by the outgoing Sy to be his successor.
