Tiu is not seeking another term as independent director of LOTO in compliance with the corporate governance recommendations on limiting the tenure of independent directors.
Tiu, who has been friends with Ocier since their Xavier High School days, joined LOTO in 2007 and was elected as lead independent director in 2017.
The father of ex-basketball star Chris and sports anchor Charles will be replaced by abogado Gracia M. Pulido Tan, the former Commission on Audit chair, Finance Undersecretary, and Presidential Commission on Good Government commissioner.
Another new face on LOTO’s board is abogado Roberto C.O. Lim, a former director of the Philippine Stock Exchange. He will take the seat of MOST Law founder Joseph Tan who passed away on April 15.