Alliance Select shakes up top management

ABS-CBN News

Posted at Dec 09 2014 10:31 AM | Updated as of Dec 09 2014 08:31 PM

MANILA, Philippines - Listed seafood processor Alliance Select Foods International Inc. has named a new president and CEO, amid a management shake-up.

Raymond See, a former executive at Pilipinas Shell, has been named as president and CEO of Alliance Select. The 46-year-old See had previously worked at Pilipinas Shell for the last 24 years.

In a statement, Alliance Select said its founder Jonathan Dee is stepping down as president and CEO but will assume the post of chairman of the board. He replaces George Sycip, an independent director, as chairman.

"It is now the most opportune time to pass the company’s leadership on to a younger, more dynamic management. I am confident our new president, Raymond See, brings with him the experience and knowhow to build on past successes of the company and catapult Alliance Select to even greater heights," Jonathan Dee, who founded the company as Alliance Tuna, said.

He denied the reorganization is due to disagreements with the Singaporean shareholders, who have raised questions about the way Alliance Select is being managed.

"I know these developments may raise questions as to whether it is related in any way to the recent disagreements between certain board members. That is furthest from the truth and the timing is nothing more than coincidental," he said.

Singaporean shareholders, led by Albert Hong Hin Kay and Hedy Yap-Chua, had earlier filed a case against Alliance Select's management including Sycip and Dee, for allegedly blocking their access to the company’s financial records and for railroading the entry of new investor Strongoak, Inc.

Alliance Select had also filed a criminal complaint against the Singaporean shareholders, saying they allegedly “revealing secrets with abuse of office.”

Meanwhile, Sycip will now be vice chairman, replacing Alvin Dee who is also stepping down from the board. Dee will continue to advise the company as shareholder.

The board will have two new directors, See and Atty. Antonio Pacis.

Another Shell executive Lisa Dejadina was named senior vice president for business development and operational excellence.

Alliance Select also said its treasurer Joanna Dee-Laurel and chief operating officer Teresita Ladanga have announced their retirement from the company.