By Myrna M. Velasco
Two of the fifth generation heirs of the Aboitiz conglomerate have started going up the corporate ladder and into occupying board seats in the holding company and in the group’s core business in power.
For Aboitiz Power Corporation, nominated for a board seat is Danel C. Aboitiz who is currently the President and Chief Operating Officer (COO) of the company’s coal business unit.
Industry talks are also swirling that this fifth generation Aboitiz will be occupying a key post in the conglomerate’s power business segment–and may yet be a ‘surprise’ when full leadership succession comes to light early part of next year.
Before reaching his current post, University of Edinburgh alumnus Danel made rounds to the various sub-segments of the group’s power business–from their renewable energy portfolio such as hydro and geothermal; then to the thermal assets starting with the oil business unit then to the coal plant ventures.
At the Aboitiz Equity Ventures (AEV), the fifth generation board seat nominee is Ana Maria Aboitiz-Delgado, daughter of the late Ambassador Roberto Eduardo “Bobby” Aboitiz and sister to Tristan and Carlos Aboitiz who are equally rising in the business leadership echelons of the family business, primarily in the food and hydropower business segments.
Ana was first elevated to the AEV’s board December last year, following the untimely demise of her uncle—the late AEV chairman Jon Ramon Aboitiz – setting off then the first major reorganization announcement of the conglomerate.
For AP, the other board nominees for calendar year 2019-2020 are the seasoned and battle-tested business leaders of the clan: Mikel A. Aboitiz who is also the company’s chairman of the board since September last year; Enrique M. Aboitiz, the company’s vice chairman; Erramon I. Aboitiz who is currently AP’s President and CEO; Luis Miguel O. Aboitiz, Chief Strategy Officer; and Jaime Jose Y. Aboitiz, who is executive vice president and chief operating officer of the conglomerate’s power distribution group.
In the roll as independent director-candidates for AP are: Romeo L. Bernardo; Carlos C. Ejercito and Eric O. Recto–all are currently holding the same board post in the company.
For AEV, recommended for board seats aside from Delgado are: Enrique M. Aboitiz, Mikel A. Aboitiz, Erramon I. Aboitiz, Sabin M. Aboitiz who is also the incoming CEO; and Edwin R. Bautista.
For independent directors, the listed nominees are: retired Supreme Court Justice Jose C. Vitug, former Energy Secretary Raphael Perpetuo M Lotilla and investment banker Manuel R. Salak III.
Next year will be a critical transition phase for the Aboitiz group as corporate leadership will change hands to the younger brood of the family-led business.