CEBU, Philippines — Cebu-grown conglomerate Aboitiz Equity Ventures Inc. (AEV) has announced the appointment of Sabin Aboitiz as president and chief executive officer (CEO) beginning January 1, 2020.
“A significant factor in our group’s success over the past 100 years has been one of seamless succession and transition to the next generation of leaders, ensuring the continuity as well as the evolution of our culture, our policies, and how we do business,” remarked outgoing president and CEO Erramon Aboitiz.
Sabin has been with the Aboitiz Group for the past 32 years, holding various management positions in the company’s food, infrastructure, and then-transport strategic business units.
Currently, he is the president and CEO of both Aboitiz InfraCapital and Pilmico, the food subsidiary of the Aboitiz Group, as well as AEV executive vice president and chief operating officer (COO).
The AEV board of directors approved the transition last Dec. 11, 2018. This will take place upon the retirement of Sabin’s older brother Erramon on Jan. 1, 2020.
The AEV board of directors also approved the appointment of Endika Aboitiz as chairman, Mikel Aboitiz as vice chairman, and Ana Delgado as a new board member.
Earlier this year, Pilmico acquired Singapore-based food firm Gold Coin -- one of Asia’s largest agribusiness firms -- with Sabin leading the professional execution of the transaction.
With his strong and competent leadership, Pilmico has enjoyed significant savings and increased efficiencies as a result of synergy projects with Gold Coin.