San Miguel Corp., one of the largest diversified companies in the country, said Tuesday that Ramon Villavicencio has resigned as director of its board.
Villavicencio, whose resignation takes effect July 31, didn’t give any reason for quitting San Miguel’s board when he submitted his letter of resignation late Monday.
In April, the 82-year-old Villavicencio left as chairman of Basic Energy Corp., where he was responsible for the company’s shift to renewable energy, due to “health concerns.”
Villavicencio has been director of San Miguel since March 15, 2018. Before his election to San Miguel’s board five years ago, he owned the ICVI Financial Consultancy Services, had ownership interests in JoyToAll Amusement Corp. and was a consultant of Petro Finance Services, Inc.
Villavicencio graduated from De La Salle University with a degree in Bachelor of Science in Commerce and a Masters in Business Administration. He has attended various trainings and seminars on Corporate Governance in the past five years, the most recent of which is the training conducted by Center for Global Best Practices on November 10, 2023.
It is unclear who would replace Villavicencio on San Miguel’s board.
