The son of businessman Ramon Ang is taking over San Miguel Corp. (SMC) as part of the succession strategy in the P239-billion diversified conglomerate.
SMC said in a disclosure to the stock exchange Tuesday its board appointed John Paul Ang, 44, as vice chairman, president and chief operating officer of the company during the organizational meeting.
SMC’s board also appointed Ramon Ang as chairman and chief executive of the conglomerate. Prior to this appointment, Ang was vice chairman, president and COO of the group.
Ang said during the company’s annual stockholders meeting SMC was aiming to grow its revenues and operating income by double digits this year.
“As you can see in the first-quarter results of SMC Group, we are growing double digit on revenues and operating income. So, we will stick to the target of continuing to grow at least double digit for 2024,” Ang said.
SMC is embarking on an aggressive investment plan across its businesses to sustain its growth momentum.
Ang reported that SMC’s mega poultry farm nationwide would ensure stable and affordable supply of chicken, while its energy projects, including battery energy storage systems and liquefied natural gas facilities would support the country’s transition to cleaner energy.
Ang said that in the area of infrastructure, the ongoing Mass Railway Transit Line 7 project is now 80-percent complete, while its New Manila International Airport in Bulacan is progressing as scheduled.
SMC is also set to take over Ninoy Aquino International Airport on Sept. 18, 2024.
“The next few years will be about investing and getting things done. We will build on our success by creating value through nation building projects, maximizing synergies and integrating sustainability across our businesses,” Ang said.
Ang’s son was first elected as a director of the company on Jan. 21, 2021 and has been a member of the board for the past two years.
He also holds directorships in other listed companies including Petron Corp., San Miguel Food and Beverage Inc. and Top Frontier Investment Holdings Inc.
He graduated with a degree in Bachelor of Arts Major in Interdisciplinary Studies from the Ateneo de Manila University.
