PSALM names new CEO
BY LENIE LECTURA – SEPTEMBER 29, 2022
from Business Mirror
The Power Sector Assets and Liabilities Management Corp. (PSALM) has a new president.
On Wednesday, Aboitiz Power Corp. announced that Dennis de la Serna, the company’s First Vice President for Regulatory Affairs, has resigned effective September 28. He has chosen to return to public service by accepting the position of president and CEO of PSALM.
This was also announced by PSALM on its website.
“We believe President Marcos Jr. and his administration have chosen wisely as Dennis is very well suited for the role. Upon returning to PSALM, Dennis brings back more than two decades of valuable, diverse, and relevant experience in Philippine energy industry finance, regulation, and compliance.
We are confident that Dennis will fulfill his new role in government with the utmost professionalism, integrity, and transparency,” AboitizPower said.
De la Serna was elected by the governing board of PSALM in its regular board meeting yesterday.
“The Governing Board of the PSALM has elected Mr. Dennis De la Serna as its President and CEO following the release by Malacañang of his appointment as Acting President and CEO of the Corporation and Member, PSALM Board of Directors last September 15, 2022,” said PSALM.
He will lead the state firm in optimizing the proceeds from the sale of power generation assets and real estate assets, settling the outstanding financial obligations and liabilities of PSALM, and administering the Universal Charge, among other urgent matters besetting the corporation.
De la Serna has over two decades of expertise in the energy sector. He supervised PSALM’s Universal Levy, Tariff, and Financial Valuation Department from 2002 to 2008. He worked with and under then PSALM President Raphael Lotilla for a year during the initial implementation phase of the privatization program and the transfer of the National Power Corp. tariff functions to PSALM and during his tenure as DOE Secretary from 2005 to 2007.
“PSALM is pleased that he has returned to the organization and is looking forward to his inspired leadership,” said the state firm.
