Ang to take over as PAL president (The Philippine Star)

April 11, 2012

With San Miguel Corp. (SMC) taking over management control of flag carrier Philippine Airlines (PAL), the former is set to implement a number of changes aimed at putting the long-suffering airline back on its feet.

SMC president Ramon Ang has confirmed in a text message to The STAR that he is taking over as president of PAL. Business taipan Lucio Tan will remain as chairman of PAL.

Current PAL president Jaime Bautista will likely remain as a member of the board of PAL and parent PAL Holdings. Ang will also sit in the board of the two companies.

SMC and Tan last April 3 signed investment agreements that will result in the issuance of new shares to the former for a minority stake in PAL and low-cost partner Air Philippines Corp.(Air Phil).

Complete article in

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