SM Investments Corp. announced Friday the appointment of former Bankgo Sentral ng Pilipinas Governor Amando Tetangco Jr. as its new chairman.
SMIC said in a disclosure to the stock exchange its board of directors, in a special board meeting, approved the election of Tetangco as chairman and independent director of the company.
Tetangco will take over the post held by Jose Sio, who will retire as chairman and independent director of the conglomerate. Sio was designated chairman emeritus.
Tetangco was the third Governor of the BSP and chairman of the Monetary Board who served for two consecutive six-year terms from July 2005 to July 2017. He was a career central banker for over four decades, having joined the BSP in 1974.
He graduated from Ateneo de Manila University with an AB Economics degree and obtained his Masters in Public Policy and Administration from the University of Winconsin.
He is concurrently an independent director of various listed companies, including Belle Corp., SM Prime Holdings Inc., Converge ICT Solutions Inc. and Pilipinas Shell Petroleum Corp.
Meanwhile, Sio was a longtime chief finance officer of SMIC prior to his appointment as chairman in 2017.
