30 April 1998: San Miguel Corp.“s new board has re-elected Andres Soriano as chairman and chief executive officer, signaling continuity for at least a few more months in the company“s strategy, whic…
30 April 1998: San Miguel Corp.“s new board has re-elected Andres Soriano as chairman and chief executive officer, signaling continuity for at least a few more months in the company“s strategy, which has featured expansion in Asia, according to press reports. In one of its first acts, the board reportedly approved a plan to borrow Pso 3.5 billion (US$ 91.8 million) through the sale of commercial paper. The re-election of Soriano, whose forefathers built San Miguel into the Philippines“ largest food and beverage maker, came a day after Eduardo Cojuangco, a former chairman and ally of former President Ferdinand Marcos, regained three seats on the 15-member board.