Aboitiz Equity Ventures, Inc. Announces Executive Appointments
February 16, 2021 at 06:51 pm EST
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Aboitiz Equity Ventures, Inc. appointed namely: Messrs. Romeo L. Bernardo and Manuel R. Salak III, and Ms. Joanne De Asis as Independent Directors. Romeo L. Bernardois an Independent Director of Aboitiz Power Corporation, a position he held since 19 May 2008. Manuel R. Salak, III, 61 years old, Filipino, is currently an Independent Director of the Company and appointed Chairman of the Board Related Party Transactions Committee, and member of the Board ESCG Committee, the Board Audit Committee, and the Board Risk and Reputation Management Committee on 21 May 2018.Ms. Joanne De Asis is Senior Adviser for Morgan Stanley & Co. (Morgan Stanley), an American multinational investment bank and financial services company listed at the New York Stock Exchange. Since she joined Morgan Stanley in 1977, Ms. De Asis rose through the ranks as she worked at the New York and London addition to the candidates for Independent Directors, the Corporate Secretary also received from the Board ESCG Committee a list of other candidates qualified to be rectors of AEV, namely: Messrs. Enrique M. Aboitiz, Mikel A. Aboitiz, Erramon I. Aboitiz, bin M. Aboitiz, Justo A. Ortiz, and Ms. Ana Maria A. Delgado. Mr. Enrique M. Aboitiz, 67 years old, Filipino, was appointed Chairman of the Board on 11 December 2018. He has served as Director of the Company since 9 May 1994, and has been Chairman of the Board Risk and Reputation Management Committee since 11 February 2009, member of the Board ESCG Committee since 11 December 2018, and of the Executive Committee since 21 May 2018. Mr. Mikel A. Aboitiz, 66 years old, Filipino, was appointed Vice Chairman of the Board of Directors on 11 December 2018, and has served as Director since 15 May 2017. Mr. Erramon I. Aboitiz has been a Director of the Company since 9 May 1994, a member of the Board Risk and Reputation Management Committee since 18 May 2015, a member of the Board Audit Committee since 1 January 2020, and was Chairman of the Executive Committee from 21 May 2018 to 31 December 2019 and its Vice Chairman since 1 January 2020. Mr. Sabin M. Aboitiz was elected Director of the Company and appointed member of the Board Risk and Reputation Management Committee on 21 May 2018. He has been the Company's President and Chief Executive Officer, Chairman of the Board Executive Committee, and member of the Board ESCG Committee since January 1, 2020. Mr. Justo A. Ortiz is currently the Vice Chairman of UnionBank, a publicly-listed company, and has served as its Chairman and Chief Executive Officer from 1993 to 2017. He is also the Chairman and/or Director of various subsidiaries of UnionBank: PETNET, Inc., City Savings Bank, Inc., UBP Investments Corporation, UBX Philippines Corporation. Ms. Ana Maria A. Delgado was elected Director of the Company on 11 December 2018, and has been a member of the Board Audit Committee since 28 January 2020.
Aboitiz Equity Ventures, Inc. is a holding and management company. The Company and its subsidiaries are engaged in various business activities mainly in the Philippines, including power generation, retail electricity supply and power distribution, food manufacturing, banking and financial services, real estate development, and infrastructure. Its segments include power segment, which is engaged in power generation and sale of electricity; financial services segment, which is engaged in banking and money remittance operations; food manufacturing segment, which is engaged in the production of flour and feeds and swine breeding; real estate segment, which is engaged in real property development for sale and lease; infrastructure segment, which is engaged in the production of cement and other building materials and in the supply of treated bulk water; and the parent company and others include the operations of the Company and the service provider subsidiaries that cater to the Group.
ABOITIZ EQUITY VENTURES, INC. 
