The chief finance officer of International Container Terminal Services Inc. is stepping down from his position to accept his nomination as President Ferdinand Marcos Jr.’s adviser for economic affairs and investment.
In a disclosure to the Philippine Stock Exchange, the Razon-led port operator announced that Rafael D. Consing Jr. is retiring from his role as Chief Financial Officer and Compliance Officer “with immediate effect.”
The company said Consing accepted his nomination to a position in the Office of the Presidential Adviser on Investment and Economic Affairs.
”During his 15 years at ICTSI, the last seven of which as CFO, Joel Consing has made a very significant contribution to the success of the business, and we have accepted his retirement with regret,” Enrique K. Razon Jr., chairman and president of ICTSI, said.
“At the same time, we are happy that Joel will be moving on to an important role of national responsibility within the Office of the President of the Republic of the Philippines. I congratulate Joel on this new role outside of ICTSI,” he added.
The company also announced that Emilio Manuel V. Pascua will replace Joel Consing as the company’s Chief Financial Officer effective immediately.
Pascua joined ICTSI in 2013 as Director of Corporate Finance. He was appointed Director, Head of Mergers and Acquisitions in 2020 and was promoted to VP, Global Mergers and Acquisitions in 2021.
Prior to joining ICTSI, he held various positions in finance and business development in the container terminal industry, as well as infrastructure project financing.
He received his Masters in Business Administration from the Wharton School, University of Pennsylvania in 2003.