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Danding Cojuangco sells stake to Ang on ‘friendly terms’

Saturday, June 30, 2012

San Miguel Corp. Chairman and CEO Eduardo “Danding” Cojuangco Jr. yesterday  announced he was assigning his 11 percent stake in the diversifying conglomerate to President and COO Ramon Ang, who was described by Cojuangco as “a person in whom I have full trust and confidence and rightfully deserves utmost recognition for transforming the Company into a highly diversified and profitable business conglomerate.”

The shares were granted to Top Frontier via an Option Agreement to purchase in 2009. However, TF decided to only partially exercise the option.

“Mr. Cojuangco offered the balance of the Option shares to me and I accepted primarily for the following reasons: the San Miguel vision set by management during my term is far from being achieved, and; I have a continuing commitment to ECJ, the company’s stakeholders and the employees to see through the realization of this vision in the near future,” Ang said..... MORE

SourceThe Daily Tribune

URL: http://www.tribune.net.ph/index.php/headlines/item/915-danding-cojuangco-sells-stake-to-ang-on-%E2%80%98friendly-terms%E2%80%99

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