Converge ICT Solutions Inc. (PSE: CNVRG) has announced the acceptance of the resignation of Atty. Francis Ed. Lim on 9 June 2025 from its Board of Directors following his appointment as Securities and Exchange Commission (SEC) Chairman by His Excellency, President Ferdinand R. Marcos Jr.
Converge Chairman Jose de Jesus thanked Lim for his invaluable contribution to the company since he joined the Board at the height of the pandemic in 2020.
“We are truly grateful to Director Francis for his steadfast guidance to the organization in the past five years. His wealth of experience in commercial and corporate law served us well in strengthening our organizational structure and putting in place the necessary guard rails for good governance, particularly during our early days as a publicly-listed company,” said de Jesus.
Converge President and Co-Founder Maria Grace Uy noted that Atty. Lim was also instrumental in steadily uplifting the company’s corporate governance practices, improving risk management, increasing transparency, and enabling the company to attract high-caliber talent as member of the Converge Board committees on Corporate Governance, Risk Oversight, Related Party Transactions, and Remuneration.
Converge CEO and Co-Founder Dennis Anthony Uy said Atty. Lim helped steer Converge to unprecedented heights, providing sound legal advice as the company navigated the complexities of the pandemic and the demands of a public company.
“While his term with us has come to an end, we are elated that he will now lend in the service of government at the SEC his peerless legal expertise and deep knowhow of the capital markets. Without a doubt, his leadership of this important regulatory body will further lead to a robust, efficient and fair market functioning that will drive more businesses to flourish and attract fresh investments. We wish him all the best in his new capacity as corporate regulator,” he said.
“I wish to express my heartfelt gratitude to the stockholders for the trust and confidence they placed in me by electing me as a member of this Board. It has been a distinct honor and privilege to serve Converge Information and Communications Technology Solutions, Inc. and it is my fervent hope that I have contributed in such capacity to the well-being of our Company,” said Atty. Lim in his letter to the Board.
“To my fellow Directors and the Management Team, thank you for the camaraderie, wisdom, and support throughout my tenure,” he added.
A prominent icon in corporate circles, Mr. Lim was named President and CEO of the Philippine Stock Exchange from 2004-2010 during which he also held several senior management positions at Securities Clearing Corporation of the Philippines, the Capital Market Development Center, Inc., the Philippine Stock Exchange Foundation, Inc., the Philippine Dealing and Exchange Corporation, and the Securities Investors Protection Fund.
Mr. Lim also served in an extensive capacity in the Supreme Court through membership in several sub-committees, thereby taking part in the creation of a number of Rules of Court pertaining to commerce and corporate restructuring.
The Converge Board Nominations Committee will be reviewing potential candidates to take Lim’s seat at the Board and will announce his replacement following the election by the company’s Board of Directors.
Under Section 28 of the Revised Corporation Code of the Philippines, the remaining directors may elect a replacement to serve for the unexpired term should a vacancy arise and it does not reduce the Board’s composition below the quorum.
