MANILA, Philippines - The board of power utility giant Manila Electric Co. (Meralco) has appointed former Shell chairman Oscar Reyes as senior executive vice president and chief operating officer effective July 1, 2010.
Reyes took over from Jose “Ping” de Jesus, who resigned following his appointment as Transportation and Communications Secretary of the new Aquino administration.
“An integral part of our overall initiative is to identify, develop and secure stable sources of reliable and cost-competitive power, with the end in mind of benefitting our customers while enhancing value to our shareholders,” Reyes told reporters.
He said there is also a need to forge partnerships with both existing and new power generators and suppliers. This way, the company would also be able to enhance its “potential of developing our own generation capacity to serve a meaningful part of our requirements,” he added.
Meralco said Reyes is not new to the company as he served as its chief energy advisor before being appointed COO.
Before joining Meralco, Reyes was director of Philippine Long Distance Telephone Co. and chairman of MRL, Gold Phils. Inc. and Link Edge Inc. He is also on the boards of Bank of the Philippine Islands, Manila Water Co., Smart Communications Inc., Pepsi Cola Products Philippines, Basic Energy Corp., Sun Life Financial Plans and First Philippine Electric Corp. He is also a director of a number of Philippine-domiciled mutual funds managed by Sun Life of Canada.
Reyes spent 21 years with the Shell Group, most notably as director at Pilipinas Shell Petroleum Corp.; managing director of Shell Philippines Exploration B.V.; and country chairman for Shell Companies in the Philippines.
An active socio-civic leader, Reyes has been the United Nations National Ambassador for HIV-AIDS since 2003 and is a trustee of El Nido Foundation, The Knowledge Institute and Pilipinas Shell Foundation. He is a member of the Makati Business Club, Management Association of the Philippines, Financial Executives Institute of the Philippines, Philippine-British Business Council, and other professional organizations.