Nenaco exec named prexy, CEO of Aboitiz Transport


Posted at Jan 24 2011 06:14 PM | Updated as of Jan 25 2011 02:17 AM

MANILA, Philippines - Management changes in Aboitiz Transport System Corp has started after Negros Navigation Co. Inc (Nenaco) acquired the country's biggest shipping firm in December.

In a disclosure to the stock exchange, ATS said it has confirmed the appointment of Sulficio O. Tagug Jr. as chief executive officer and president of Aboitiz Transport.

Tagud was previously named as the interim chairman, CEO, and president of Aboitiz Transport on Jan. 6, 2011.

The Aboitiz Transport board, which met on Jan. 24, also appointed Jon Ramon Aboitiz as the new chairman of the board.

Aboitiz replaced William Moses who has tendered irrevocable resignation as a board director.

Also elected as board member was Francis Chua.

Chua is the current president of the Philippine Chamber of Commerce and Industry and Malacañang's special envoy on investments to China.

Meantime, Tagud has been the chairman and CEO of Negros Navigation since 2004.