San Miguel gets 4 seats on Meralco board

MANILA, Philippines — Beverage and food group San Miguel Corp. on Monday won key boardroom and management representation at Manila Electric Co. (Meralco), marking the entry of a powerful new voting block in the country’s largest electricity retailer, which has long been controlled by the Lopez family.

Using voting rights acquired from divesting government financial institutions, San Miguel obtained four seats on the 11-member Meralco board and installed its president Ramon Ang, chairman Eduardo Cojuangco, director Estelito Mendoza and financial consultant Aurora Calderon as directors.

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