Delfin Lazaro quits Monde Nissin board a month after selling P10M shares

Ayala group adviser and director Delfin Lazaro has left the board of noodle and biscuit maker Monde Nissin led by ultra bilyonaryo Betty Ang.

The 75-year Lazaro cited “personal reasons” for his departure after a year of service on the board. He joined the board two months before Monde’s P48.6 billion initial public offering in June 2021.

Monde will name Lazaro’s replacement in its next board meeting on May 10.

Lazaro raised over P10 million after he sold out practically all of his 740,000 Monde shares last March at a seven percent premium over the stock’s IPO price of P13.50.