Alsons Consolidated Resources Inc., the publicly-listed company of the Alcantara Group, announced Thursday the retirement of Tomas Alcantara as chairman and president for health reasons effective March 1 after nearly two decades of leading the company.
Older brother Nicasio Alcantara will assume the position of Alsons chairman and president, while Tomas Alcantara will remain as director of the company.
Nicasio Alcantara previously led Alsons as chairman and president from 1995 to 2001.
He was chairman and chief executive of Petron Corp. from 2001 to 2009, and currently holds leadership positions and board directorships in several companies including ACR Mining Corp., where he serves as chairman and Phoenix Petroleum Philippines where he sits as an independent director.
Alsons’ board of directors also confirmed the appointment of Alexander Benhur Simon as vice president and group chief finance officer and the assumption of Antonio Miguel Alcantara to the new position of chief investment and strategy officer.
“Under Tomas Alcantara’s leadership, ACR helped end the Mindanao Power shortage by bringing online two major power facilities that added 313 megawatts to the island’s power supply. It was because of his vision and guidance that ACR is now a major power generator with four power facilities serving over eight million people in 14 cities and 11 provinces in Mindanao,” Alsons executive vice president Tirso Santillan Jr. said.
He said Alsons would continue to benefit from Tomas Alcantara’s wisdom and experience as he continued to serve in the board.
Tomas Alcantara served as chairman and president of Alsons for nearly 20 years.
Santillan also welcomed Nicasio Alcantara and his many years of leadership experience in various corporations as he once again assumes the top post in the company. “As we look forward to the future of ACR, we are pleased to have Alexander Benhur Simon join us as our new CFO to help us navigate the opportunities and challenges of finance in the next few years. We are likewise excited to announce Antonio Alcantara’s new leadership role as ACR’s chief investment and strategy officer where he will contribute to developing and implementing the company’s strategic investment and business direction,” Santillan said.
Alsons, the first private sector power generator in Mindanao, is building a P4.5-billion run-of -river hydroelectric power plant at Siguil River basin in Maasim, Sarangani province.
The Siguil hydro power plant is expected to begin commercial operations by 2022.