Cojuangco praises Ang for San Miguel's success
MANILA, Philippines - San Miguel Corp. chairman and CEO Eduardo "Danding" Cojuangco Jr. praised his right-hand man, Ramon Ang, for the company's success over the years.
During the company's annual stockholders' meeting Tuesday, June 11, Cojuangco said San Miguel is where it is today because of Ang's hard work.
"Much of the success we enjoy and what we are today as a company is a result of Ramon Ang's foresight and determination that we make the most of the opportunities in front of us," he said.
"His bold vision has transformed San Miguel far beyond the confines of whatever we could have imagined. And it will be to Ramon's lasting credit that he has changed the outlook for future generations of San Miguel leaders and employees," he added.
Cojuangco sold his stake in San Miguel and turned over control of the company to Ang, its president and COO, last year. He however retained his posts.
A trusted friend of Cojuangco, Ang is known to have led San Miguel's diversification from the traditional food and beverage business into heavy industries such as energy, telecommunications, mining, infrastructure and airlines.
In 2012, San Miguel generated P699 billion in sales revenue, a 30% increase from the previous year.
According to Cojuangco, 70% of the sales revenue came from the company's new businesses.
"We are pleased with our achievements in 2012. Today, San Miguel is even more deeply woven into the life of our nation," he said. - Rappler.com