Various industries lose key business personalities

The latter part of the previous week has been filled with grief for some industries.

Lily Cristina Go Ngochua, the only sister of tycoon James Go and late taipan-philanthropist John Gokongwei Jr., passed away on September 14 at the age of 90.

The Board of Directors of JG Summit Holdings, Inc. (JGS) has just accepted her resignation as Director on September 13. She has served as a director of the conglomerate since its formation in 1990.

Aside from sitting on JG Summit's board for 31 years, Ngochua oversaw its businesses in Cebu, specifically its hotel and agro-industrial business. She also handled the purchasing and treasury departments of the URC Biscuit and Noodle Plants and the treasury functions of its retail and mall business in the province.

Meanwhile, the banking industry grieves over the passing of banking veteran Ramon Sy on Thursday at 91.

Sy's demise was confirmed by the Asia United Bank Corp. (AUB), where he served as vice chairman and a director from March 2012 until the time of his death.

In the announcement posted by AUB, the bank cited Sy's important role in its initial public offering (IPO) roadshows and public listing in May 2013.

Photo credit: https://www.facebook.com/AUB.Official
"As a member of the Credit Committee and Executive Committee, his credit background and experience made its mark on both young and experienced Account Officers. As a member of the Board of Directors, his wisdom and insights on corporate governance, risk management, and people and organization contributed significantly to the bank for close to a decade now," the listed lender added.

Sy, who is considered a pillar in the banking industry, was known for his inspiring story of success, which started from his humble beginnings as a messenger at the former Manila branch of Bank of America to rising through the ranks to become the bank's country manager. As he climbed his way to the top, he became a mentor to many and was recognized as one of the most respected bankers in the Philippines. 

He was also the chairman of Apex Mining Company, Inc. until his death and has held executive positions in various companies, including president and CEO of the United Coconut Planters Bank and the International Exchange Bank.

In the real estate industry, DM Wenceslao and Associates (DMW) has announced the untimely passing of its president and chairman of the board, Delfin Wenceslao Jr., at the age of 77.

Photo credit: https://www.dmwai.com/news
"It is with great sadness that the board of directors and management of D.M. Wenceslao & Associates, Incorporated announce that today, it was informed of the death of its President and Chairman of the Board, Mr. Delfin J. Wenceslao, Jr.," the company said in a disclosure to the Philippines Stock Exchange (PSE).

The company disclosed no further details, nor has it announced any replacements for the positions left vacant by the demise of the construction tycoon.

The real estate developer ranked 37th in Forbes' list of Philippines Richest in 2021 with an estimated net worth of $385 million. 

In a disclosure to the stock exchange last July, DMW revealed that the Wenceslao family had consolidated its DMW holdings under its holding company, WHC, Inc., for estate planning purposes.

D.M. Wenceslao is a listed company engaged in housing and real estate development, rentals, construction, and sale of land and condominium units. It offers a wide range of services and products that cover the entire project cycle and is also licensed by the Philippine Licensing Board as Category "AAAA" with classifications as "General Engineering" and "General Building."

Sources:

https://web.facebook.com/stccebuat85/posts/1043864789781415
https://edge.pse.com.ph/
https://edge.pse.com.ph/
https://web.facebook.com/AUB.Official/
https://edge.pse.com.ph/