Ex-BSP Gov. Medalla takes seat on SMC board
THE BOARD of San Miguel Corp. (SMC) has appointed Felipe M. Medalla, former governor of Bangko Sentral ng Pilipinas (BSP), as an independent director.
“Mr. Medalla brings with him years of economics and finance experience from the perspective of the government sector, all of which equip him with expertise and proficiency in attending to the needs and requirements of the company,” SMC said in a statement.
Mr. Medalla was elected to the SMC board after a board meeting on Thursday.
He assumes the position on the SMC board left vacant by Ramon F. Villavicencio, who resigned on July 31.
Although no reason was given for Mr. Villavicencio’s resignation, he had earlier stepped down from his roles as chairman and director of Basic Energy Corp. due to health issues.
Mr. Medalla served as the governor and chairman of the Monetary Board (MB) of the BSP from July 1, 2022, to July 2, 2023.
He was a member of the MB from 2011 to 2022.
He holds a PhD in Economics from Northwestern University in the United States.
SMC shares dropped 1.11%, closing at P98 each on Thursday. — Revin Mikhael D. Ochave