Eric O. Recto, the nephew of businessman Roberto V. Ongpin who died early this month, is elected chairman of Alphaland Corp.
Recto, Undersecretary at the Department of Finance during the term of President Gloria Arroyo, has been Alphaland vice chairman since its inception in 2007.
According to the Ongpin family, the nephew’s elevation to the top of the holding firm’s management structure had been the uncle’s wish “for Mr. Eric Ongpin Recto to take over as chairman and CEO” of Alphaland.
Anna B. Ongpin remains as vice chair, while her sister Michelle Ongpin Callaghan was elected member of the board to fill the vacancy left by the businessman’s death.
Recto, 58 years old, also holds board positions in many of Ongpin’s businesses.
He is at present president at Atok-Big Wedge Co. Inc., chairman at the Philippine Bank of Communications, chairman and president at Bedfordbury Development Corp., chairman and president at Optimum Development Holdings Philippines. Inc., vice chairman and independent director at Aboitiz Power Corp. and Dennis Uy’s PH Resorts Group Holdings Inc., director at DITO CME Holdings Corp. and a board member at Acentic GmbH.
As Department of Finance undersecretary from 2002 to 2005, Recto led the agency’s International Finance Group and the Privatization Office.
Prior to this, he was Alaska Milk Corp. and Belle Corp chief finance officer.
Recto has a degree in Industrial Engineering from the University of the Philippines and an MBA from the Johnson School, Cornell University.
