San Miguel Corp. takes over control of Petron

By Chino S. Leyco, Reporter

Southeast Asia’s largest food and beverage conglomerate took control of the Philippines’ largest oil refinery, when it announced Friday that Ramon Ang would be its new chairman and chief executive officer.

Ang is also president and chief operating officer of San Miguel Corp., and he replaces Nicasio Alcantara at Petron, also one of the top-three petroleum firms in the country.

Along with Ang, San Miguel Chairman Eduardo Cojuangco Jr. was voted as one of Petron’s directors.

Luis Maglaya, Petron corporate secretary, said Ang, Conjuanco and other San Miguel executives were elected during the petroleum company’s special board meeting on Thursday.

Also during the election, it was decided that Alcantara would stay on as director but “vice” of Ang, according to the disclosure.

Other San Miguel people who won seats in Petron were Estelito Mendoza, director; Emmanuel Eraña, chief finance officer, and Lubin Nepomu­ceno, general manager.

The positions of Eraña and Nepomuceno are new in Petron.(ManilaTimes)

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