MANILA - Tycoon Enrique Razon's International Container Terminal Services Inc on Thursday announced that its Chief Financial Officer and Compliance Officer Rafael Consing Jr is retiring to accept his nomination to a government post.
Consing accepted his nomination to a position in the Office of the Presidential Adviser on Investment and Economic Affairs under the Office of the President, ICTSI said in a disclosure to the stock exchange.
Replacing Consing in the ICTSI top post is Emilio Manuel Pascua, the company said.
"During his 15 years at ICTSI, the last 7 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. 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," Razon said, who is part of President Ferdinand Marcos Jr's delegation in Davos, Switzerland for the World Economic Forum.
In a separate disclosure, another Razon-led firm Manila Water Company Inc also announced Consing resignation as Director.