Mier out, Young in as VMC chairman

MANILA, Philippines - Omar Byron T. Mier has resigned as chairman and member of the board of directors of Victoria Milling Co., Inc. (VMC) effective end of business hours on Feb. 25, 2011 for professional reasons.

He had served the board in various capacities since 1998. He shall, however, continue to serve as consultant to the board and sit in the various board committee.

Elected to replace Mier as the representative of Philippine National Bank to the VMC board is Michael G. Tan, who brings to the VMC board his expertise and experience in the diverse businesses he has handled in various capacities.

In the ensuing reorganization, Wilson T. Young has been elected as the new chairman of VMC and its executive committee.

Young has been in the VMC board since 2005, and an active advocate in the effective and efficient implementation of its approved rehabilitation plan. He brings to VMC his management savvy and vast experience in the areas of manufacturing, education, and airline industry, and in the successful turnaround of various companies under rehabilitation.