In a disclosure to the SEC, Oil Refiner Petron Corp, informed them of changes to the officers of the company as elections took place to reflect the new owner’s stake.
San Miguel Corp recently acquired majority stake in Petron after it bought SEA Refinery from the Ashmore Group. The Ashmore Group of UK just last year bought the remaining 40% stake of the Philippine government in Petron.
The government appointees to the board were Nicasio Alcantara (from the Alcantara Group of Companies), Newspaper columnist Carmen Pedrosa and former Presidential Chief of Staff, Michael Defensor.
San Miguel President, Ramon S. Ang takes over from Nicasio Alcantara the position of Chairman & CEO. San Miguel Chairman, Eduardo “Danding” Cojuangco replaces Ashmore board representative representative, Craig Webster. Estelito P. Mendoza takes over the position vacated by Michael Defensor.
The current make up of the Board of Directors for Petron will be:
- Ramon S. Ang
- Eduardo M. Cojuangco, Jr.
- Estelito P. Mendoza
- Bernardino R. Abes
- Angelico T. Salud
- Roberto V. Ongpin
- Eric O. Recto
- Ron W. Haddock
- Nicasio I. Alcantara
- Emilia T. Boncodin
