The Board of Directors of SM Investments Corporation (SM) announced key organizational changes that will support the company's next phase of growth. The Board has already conferred upon Mr. Henry Sy, Sr. the role of Chairman Emeritus, in recognition of his role as the founder of SM and all of its core businesses. Mr. Jose T. Sio was appointed to succeed Mr. Sy as the Chairman of the Board.
Mr. Sio, as SM's Chief Financial Officer for 26 years, was highly instrumental in supporting the phenomenal growth of SM and its subsidiaries. Mr. Sio was a senior partner at Sycip Gorres Velayo & Co prior to joining SM on November 1990. New members of the board include Mr. Frederic C. DyBuncio as Director and Mr. Alfredo Pascual as Independent Director replacing Mr. Ah Doo Lim who joined the Board in 2008 and has served the full term as an independent director.
Mr. DyBuncio brings with him a wealth of experience in banking where he spent over 20 years with JP Morgan Chase and its predecessor companies. Mr. Alfredo Pascual just completed his six-year term as President of the University of the Philippines (UP). Mr. DyBuncio will assume the role of President of SM Investments in place of Mr. Harley T. Sy who will remain as Executive Director of the Board.
Mr. DyBuncio joined SM in 2011 as Senior Vice President and eventually as Executive Vice President handling the company's portfolio investments. This portfolio has since grown to include Belle Corp., Atlas Mining, the Net Buildings, CityMalls, MyTown, and most recently, 2Go. These changes affirm the continuing role of professionals in executing the larger vision of SM while further strengthening the group's good govenance and sustainability practices.