CLI bares leadership transition

MANILA, Philippines — Cebu Landmasters Inc. (CLI), a real estate developer focused in the Visayas and Mindanao, is embarking on a leadership transition, with senior executive vice president and chief operating officer Jose Franco Soberano set to succeed his father as president and chief executive officer.

Franco succeeds CLI founder Jose Soberano III, who will remain executive chairman of the board and chair of the executive committee.

Jose will continue to provide strategic direction, board leadership and continuity as the listed property company enters its next chapter of expansion.

CLI said the succession plan has been developed over several years as part of its long-term leadership and governance strategy.

“This transition reflects years of deliberate preparation and a shared commitment to ensuring Cebu Landmasters remains strong for generations to come. Franco has played a critical role in shaping the company we are today and is well-positioned to lead CLI through its next stage of growth,” Jose said.

Before joining CLI in 2010, Franco worked for four years as a project manager at a multinational firm.

In his capacity as senior executive vice president and COO, Franco has been instrumental in the CLI’s diversification and expansion efforts.

“As our chairman has expressed his trust in the next generation of leadership, I humbly accept this responsibility with the deepest gratitude and with the highest respect for the legacy that chairman Joe Soberano has built,” Franco said.

“As we build the CLI of the future, I call on our 1,500-strong organization to lean on the momentum we’ve built for many years and on the back of our renewed vision-mission to be masterful, resilient and yet very generous in our efforts,” he said.

Founded in Cebu in 2003, CLI has grown from a regional developer into a publicly listed company with a presence across 21 cities and municipalities and more than 132 projects in various stages of development to date. 

Its portfolio spans residential, office, hospitality, mixed-use and master-planned communities.

CLI said the leadership transition underscores the company’s confidence in its future and commitment to long-term value creation for shareholders, homeowners, business partners and communities.

As part of its governance transition, CLI shareholders also elected Leonardo Cuaresma Jr. as independent director, succeeding Ma. Aurora Geotina-Garcia, who completed her allowable term under the Securities and Exchange Commission rules on independent director tenure.