San Miguel executives assume posts in Petron

ABS-CBN News

Posted at Jan 12 2009 10:45 PM | Updated as of Jan 13 2009 06:45 AM

To formalize the entry of San Miguel as the controlling shareholder, but an indirect owner, of Petron Corporation, newly appointed Petron executives who are allied to San Miguel were given a briefing Monday.

The appointees, allied with San Miguel vice chairman and president Ramon S. Ang, are Emmanuel E. Erana and Lubin B. Nepomuceno who will assume the respective positions of chief finance officer and general manager. Both are newly created positions.

“Mr. Ang's people will start reporting on Monday,” said a top level official of Petron, adding that Nepomuceno will oversee the supply, operations and the refinery.

Erana's and Nepomuceno's appointments in Petron's management team were formalized during a special meeting of Petron's board Thursday last week.

In the same board meeting, Ang and San Miguel chairman Eduardo Cojuanco, Jr. assumed board seats. Ang is now Petron's chairman of the board.

San Miguel employees

Prior to their Petron appointments, Erana and Nepomuceno held key executive posts in San Miguel.

In a phone inquiry with the customer center of San Miguel, abs-cbnnews.com/Newsbreak learned that the two remains employed by San Miguel.

Nepomuceno remains as San Miguel's head of corportate technology center, while Erana is currently the vice president and chief information officer.