Are executives and directors of San Miguel Food and Beverage Inc., including its president and chief executive officer Ramon Ang, taking a hit on their paychecks?
According to SMFB’s own estimates, compensations, including salaries and bonuses, will decline this year by 14 percent to a total P1.17 billion from their level in 2023.
Aggregate compensation of these executives and directors increased to P1.36 billion in 2023 from P1.33 billion in 2022.
Meantime, Carlos Antonio Berba has joined the board of SMFB as director to replace Roberto Huang, former president of San Miguel Brewery who died in November. Berba, 58, is chairman, president and managing director of San Miguel Brewery Hong Kong Ltd.
Berba is nominated as chief operating officer of San Miguel Brewery.
