By Ben Otto

San Miguel Corp. Chairman and Chief Executive Eduardo M. Cojuangco Jr. passed away Tuesday evening at the age of 85.

Mr. Cojuangco had served in the roles since 1998, San Miguel said in a stock-exchange filing Wednesday. One of the wealthiest businessmen in the Philippines, he was also chairman of several listed subsidiaries, including Petron Corp. and San Miguel Food & Beverage Inc.

San Miguel Corp., founded in 1890, is one of the Philippines' oldest conglomerates, with business interests ranging from brewery to infrastructure.

Presidential spokesman Harry Roque Jr. expressed condolences, saying in a statement that Mr. Cojuangco "had immense contribution to the socioeconomic development of the Philippines through the company's operations in food, beverages, energy, power, oil refining, and infrastructure."

San Miguel is controlled by billionaire Ramon Ang, a protege of Mr. Cojuangco.

Write to Ben Otto at ben.otto@wsj.com