PHILIPPINES: Two new directors for San Miguel
Two new directors have been nominated to the board of San Miguel Corp. The Philippine government through the Presidential Commission on Good Government (PCCG) announced the nominations yesterday.
The new nominees, Octavio Victor Espiritu and Egmidio de Silva Jose, will join three other government directors in the company. They will represent the interests of state-controlled Coconut Industry Investment Fund in San Miguel.
Espiritu is a director at the Bank of the Philippine Islands. De Silva Jose is a banker with the same company. They replace lawyer Hector Hofilena and Nestle Philippines Inc. former CEO Juan Santos.
Earlier this month, the Philippine Daily Inquirer reported that the Philippines Bureau of Internal Revenue is chasing the company for PHP880m (US$15.7m) in back taxes.
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