Youngest RSA son joins Ginebra board

MANILA, Philippines — Jacob Paolo Ang is expanding his role in the diversified conglomerate led by his father, tycoon Ramon Ang.

Jacob, RSA’s youngest son, has been appointed as director of listed Ginebra San Miguel Inc.

He will fill the vacancy in the Ginebra board left by the demise of Leo Alvez.

In September last year, Jacob was named president of SMC Asia Car Distributors Corp., the exclusive distributor of BMW vehicles in the Philippines.

His leadership and fresh perspective are expected to further strengthen BMW’s presence in the Philippines.

Meanwhile, Jacob’s older brother, John Paul Ang, who is the president and chief operating officer of San Miguel Corp. (SMC), has also been appointed as a member of the corporate governance committee and executive compensation committee of Ginebra.

From January to September, Ginebra San Miguel, the spirits business of SMC, maintained earnings growth despite softer sales volumes, with revenue improving by one percent to P48.9 billion.

Operating income rose by seven percent to P8 billion while net income climbed by three percent to P6.5 billion, supported by continued cost management and operational efficiency.