PHILIPPINES: San Miguel chairman retires
The Philippine food and drinks conglomerate San Miguel Corp (SMC), has announced that its president and chief operating officer Francisco Eizmendi has retired.
The change in management comes at an awkward time for SMC, as it is just about to welcome its first major foreign investor, Kirin, into the company and has had five government representatives put onto the board.
Eizmendi's retirement comes after 45 years with SMC and the company is yet to name a replacement, but the subject will likely be discussed at the company's regular board meeting on Wednesday.
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