Makati Finance Corporation announced that at its board meeting held on January 23, 2024, approved the resignation of Mr. Eric B. Benitez as a director of the corporation effective 23 January 2024. Mr. Eric B. Benitez resigned as part of the Benitez family's succession policies consistent with good corporate governance. Ms. Carmen Therese L. Benitez is the niece of Mr. Eric B. Benitez.

The board elected Ms. Carmen Therese L. Benitez as Director, subject to her qualification, to serve the unexpired portion of the term of Mr. Benitez.