Converge ICT Solutions Inc. (PSE: CNVRG) has officially accepted the resignation of Atty. Francis Ed. Lim from its Board of Directors, following his recent appointment as Chairman of the Securities and Exchange Commission (SEC) by President Ferdinand R. Marcos Jr.
Atty. Lim, who joined the Converge Board in 2020 during the onset of the COVID-19 pandemic, played a pivotal role in guiding the company through its early years as a publicly listed entity.
Chairman Jose de Jesus expressed his gratitude to Lim, stating, “We are truly grateful to Director Francis for his steadfast guidance over the past five years. His deep expertise in commercial and corporate law helped shape a strong governance framework, particularly during our formative years as a listed company.”
President and Co-Founder Maria Grace Uy commended Lim’s influence in uplifting the company’s governance standards. “His contributions in the Corporate Governance, Risk Oversight, Related Party Transactions, and Remuneration Committees were instrumental in boosting transparency, managing risk, and attracting top-tier talent to the organization,” she said.
CEO and Co-Founder Dennis Anthony Uy highlighted Lim’s invaluable counsel during a critical period in the company’s growth. “His legal insight helped us navigate a challenging landscape marked by a global health crisis and public market pressures. While we will miss his presence on our Board, we are proud that he will now serve the nation through the SEC. His leadership will no doubt elevate regulatory standards and encourage investor confidence in the capital markets,” he said.
In his letter of resignation, Atty. Lim extended his appreciation to the Converge community. “It has been a distinct honor and privilege to serve Converge. I sincerely thank the stockholders, my fellow Directors, and the Management Team for their trust, support, and camaraderie throughout my tenure.”
A respected figure in the corporate and legal landscape, Lim previously served as President and CEO of the Philippine Stock Exchange (2004–2010) and held leadership roles in multiple capital market institutions. He also served on various Supreme Court committees, contributing to the development of commercial rules and corporate restructuring policies.
The Converge Board Nominations Committee is currently evaluating candidates to fill the vacancy. In accordance with Section 28 of the Revised Corporation Code, the remaining directors may appoint a replacement to serve the remainder of Lim’s term without affecting quorum.
