Philippine billionaire Ramon Ang has appointed his son, John Paul Ang, as president and chief operating officer of San Miguel, the country’s top brewer. The elder Ang will continue to guide the company as chairman and chief executive, marking the start of a leadership transition within the conglomerate. Despite reaching the age of 70, retirement is not in the cards for Ang in the next five years, as he plans to let his son take on a more active role in operating the company, following in the footsteps of his mentor, former San Miguel chairman and CEO Eduardo Cojuangco Jr.
John Paul Ang, a 44-year-old director of San Miguel since 2021, has a long list of projects ahead of him, including the construction of a new airport, upgrading the main international gateway in the Philippine capital, and managing a joint venture to build a liquified natural gas facility in Batangas. He will also oversee the ongoing construction of a mass rail transit system connecting Metro Manila municipalities to the neighboring province of Bulacan, where San Miguel is building a new airport. The total cost of these projects is estimated to be around $20 billion.
The appointment of the younger Ang as president and COO removes any doubt on who will succeed his father in the future, according to analysts. With a background in interdisciplinary studies from Ateneo University and experience in building Eagle Cement under his father’s direction, he is seen as a capable successor with the necessary skills to undertake the projects initiated by the older Ang. The acquisition of Eagle Cement in 2022 allowed the elder Ang to consolidate his cement interests and raise funds to boost his stake in San Miguel’s controlling shareholder.
Ramon Ang, who acquired most of his San Miguel shares from Cojuangco in 2012, has transformed the conglomerate into one of the most diversified in the country, with interests in power, tollroads, and oil refinery. Under his leadership, San Miguel has expanded into non-allied industries to reduce its dependence on food and beer. The company posted a 13% year-on-year increase in first quarter sales to 392.7 billion pesos, with net income jumping 61% to 14.5 billion pesos before foreign exchange adjustments. Including these adjustments, profit was halved to 8.89 billion pesos, reflecting the challenging environment faced by the conglomerate.
Analysts view the appointment of John Paul Ang positively, as it ensures a smooth leadership transition within San Miguel. With his father’s guidance and the experience gained from managing Eagle Cement, it is expected that the younger Ang will be able to successfully oversee the mega infrastructure projects that the conglomerate is undertaking. The younger Ang’s role in managing key projects such as the new airport complex in Bulacan and the liquified natural gas facility in Batangas will be crucial for the future growth and success of San Miguel.
