Lance Gokongwei assumes RLC president and CEO role

MANILA, Philippines - Tycoon Lance Gokongwei is taking over the posts vacated by his cousin Frederick Go in several listed companies, according to separate disclosures to the Philippine Stock Exchange (PSE) yesterday.

Robinsons Land Corp. said its board of directors has approved the appointment of Gokongwei as its  president and CEO, confirming a report by The STAR.

Frederick’s brother Faraday Go, meanwhile, will assume the role of director of RLC effective Jan. 8. These new movements  follow the resignation of Frederick who is joining the Marcos administration.

For RL Commercial REIT and Altus Property Ventures, Gokongwei will assume the role of chairman and director, also effective Jan. 8.

The board likewise approved the appointment of Faraday as member of the RCR board.

Meanwhile, Joel Lumanlan has been appointed as member of the board of APV.

On Tuesday, Malacañang announced the appointment of Go as the head of the Office of the Special Assistant to the President for Investment and Economic Affairs.

“His role will ensure the effective integration, coordination and implementation of the various government investment and economic policies and programs of our country,” according to Malacañang.

Prior to this, Go was appointed as presidential adviser on investment and economic affairs. He has been joining President Marcos on his trips overseas.

With his new role, Go will chair the Economic Development Group and will closely supervise the Department of Finance, the National Economic and Development Authority, Department of Trade and Industry and the Department of Budget and Management and their respective agencies.

Go, 54, is credited for building RLC to the sprawling property giant that it is now. He grew RLC from only five assets when he took over to a P223 billion-company with over 53 shopping malls and over 100 developments.

He is the favorite nephew of the late retail and airline tycoon John Gokongwei.