SAN MIGUEL Food and Beverage, Inc. (SMFB) has named Monica L. Ang-Mercado as its new chief finance officer (CFO), effective Wednesday.
Ms. Ang-Mercado is the daughter of tycoon Ramon S. Ang, chairman of SMFB’s parent company, San Miguel Corp. (SMC).
She succeeds Ildefonso B. Alindogan as part of “SMC’s management reorganization,” the listed food and beverage company said in a regulatory filing on Wednesday.
SMFB also appointed Emmanuel B. Macalalag as the chief operating officer of the company’s food division, replacing Francisco S. Alejo III.
Mr. Alejo will remain one of SMFB’s directors, alongside Ms. Ang-Mercado and Mr. Alindogan.
SMFB has three business groups: beer and non-alcoholic beverages, spirits, and food. Some of its subsidiaries include San Miguel Brewery, Inc., San Miguel Foods, Inc., and Ginebra San Miguel, Inc.
On Wednesday, SMFB shares fell by 0.19%, or ten centavos, to P51.20 per share, while SMC stocks rose by 6.67%, or P5, to P80 per share. — Revin Mikhael D. Ochave
