PhilWeb Corporation has appointed Lance Y. Gokongwei as its new Chairman, marking another step in the company's leadership transition following his strategic investment in the Philippine gaming technology provider.
The company's Board approved the appointment effective August 27, 2026, after accepting the decision of Crisanto Roy B. Alcid to relinquish his roles as Chairman of the Board and Chief Executive Officer. Alcid will remain a member of PhilWeb's board of directors. The Board also confirmed that no appointment has been made to the CEO position, leaving the role vacant following Alcid's resignation as CEO.
According to regulatory filings, Gokongwei will serve as Chairman for the remainder of the current board term. He currently holds 159.5 million PhilWeb shares following his investment in the company.
The leadership change follows Gokongwei's agreement in June to invest approximately PHP2.03bn (US$33.25m) in PhilWeb through a subscription for 159.5 million common shares and 93.8 million redeemable preferred shares at PHP8 per share. Once completed, the transaction is expected to give him an initial 10% stake in the company's issued and outstanding common shares, rising to around 15% if all preferred shares are converted.
PhilWeb said at the time that the capital would support its growth initiatives and strengthen its position in the regulated gaming technology market.
The company has also continued expanding its digital gaming operations in recent months. Earlier this year, it partnered with Tiger Resort, Leisure and Entertainment Inc., operator of Okada Manila, to launch the Okada Play online gaming platform. Powered by PhilWeb's proprietary technology, the platform extends Okada Manila's gaming offerings into the Philippines' regulated online gaming market.
The appointment places one of the Philippines' most prominent business leaders at the helm as PhilWeb continues to pursue growth opportunities in the country's regulated gaming technology sector, while the company has yet to announce who will assume the CEO role.
PhilWeb recently expanded its online gaming business by launching the Okada Play platform with Okada Manila
