SBS Philippines Corporation Announces Executive Changes
October 10, 2017 at 02:17 am EDT
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SBS Philippines Corporation announced changes in directors and officers and their appointment in Board Committees. The company announced the resignations of Mr. Rosaleo M. Montenegro, independent director, chairman of the corporate governance, nomination and remuneration committee and member of the audit, risk management and related party transaction committee, due to other commitments and heavier responsibilites as a senior executive in other businesses with effect on October 9, 2017 and Ms. Victorina B. Ladringan; executive director, EVP & Chief Investments Officer and as a member of the corporate governance, nomination and remuneration committee and the audit, risk management and related party transaction committee, due to assignment and secondment to the company's subsidiary, SBS Holdings and Enterprises Corporation, as President thereof with effect on October 9, 2017; election of Mr. Roberto F. Anonas, Jr, and Ms. Yvonne C. Lih as new independent Directors of the company effective October 9, 2017 to fill the vacancies in the Board as a result of the resignations of Mr. Montenegro and Ms. Ladringnan; appointment of Mr. Roberto F. Anonas, Jr. as Chairman of the Corporate Governance, Nomination and Remuneration Committee and as a member of the Audit, Risk Management and Related Party Transaction Committee, with effect on October 9, 2017; and appointment of Ms. Yvonne C. Lih as Lead Independent Director and as Board Committee member of the Audit, Risk Management and Related Party Transaction Committee as well as the Corporate Governance, Nomination and Remunration Committee, with effect on October 9, 2017; Change in the designation of the Board Committee appointment of Mr. Ricardo Nicanor N Jacinto, a non-executive director, in the Corporate Governance, Nomination and Remuneration Committee from a regular member thereof to an ex-officio member of the committee. Mr. Roberto F. Anonas, Jr. is currently a member of the faculty of the University of Asia and the Pacific, School of Management as lecturer in Finance and management mentor/coach in the Entrerpreneurial Management Program. He is also a director of Pentarch Stalwark Builders Inc. and an independent director of Macay Holdings Inc. Ms. Yvonne C. Lih was previously Chief Marketing Officer for Habitat for Humanity International, Senior Vice President, Property Sales and Leases Division of the Bank of the Philippines Islands and BPI Family Savings Bank, and Vice President, Centralized Operations Group of Citytrust Banking Corporation.
SBS Philippines Corporation is a Philippines-based company that is engaged in the business of chemical trading and distribution. The Company also provides value-added services to its customers by providing logistics management in sourcing, procuring, warehousing and transporting chemical products and materials. Its business includes warehouse distribution where customers are offered a full line of chemical and ingredient products on stock for which they can order in variety and programmed for dispatch and delivery in accordance with their requirements. The Company offers a comprehensive selection of chemical products to various industries, such as food ingredients, industrial, animal health and nutrition, including feeds and veterinary care, pharmaceutical, home and personal care, environment and infrastructure, and many others. Its food ingredient products include sweeteners and stabilizers, minerals and phosphates, basic and functional ingredients, and flavors and seasoning.