PAL elects 3 new directors

Shareholders of Philippine Airlines have elected three new members of the flag carrier’s board of directors.

Henry So Uy, Jaime J. Bautista and Peter B. Favila – all finance professionals – were unanimously elected to the PAL board along with 13 other incumbent directors during the airline’s annual stockholders meeting on August 30.

The re-elected incumbents were: chairman emeritus Gabriel C. Singson, chairman and chief executive officer Lucio C. Tan, vice chairman and treasurer Mariano Tanenglian, president and chief operating officer Avelino L. Zapanta, Alexander O. Barrientos, Dr. Charles C. Chante, Enrique Cheng, Estelito P. Mendoza, John K.M. Pang, Florencio T. Santos, Washington Sycip, Harry C. Tan and Luis Juan L. Virata.

The election of the three new directors filled the vacancies in the board created by the resignation earlier this year of Bangko Sentral governor Rafael Buenaventura, Anthony Dee K-Chiong and Gregorio Santayana III.

So Uy, 56, currently serves as PAL executive vice president for the Commercial Group and executive assistant to the chairman, positions he has held since April 1999. Prior to joining PAL, he was chief financial officer of California-based U.S. Merchandise Company and first vice president-general manager of Metropolitan Bank’s Taipei branch.

Bautista, 44, is chief financial officer of the Lucio Tan Group of Companies. A certified public accountant, he previously held senior management positions in PAL, including senior vice president-chief financial officer and executive vice president-chief operating officer, during the period 1994 to 1999.

Favila, 53, was until recently president of Allied Banking Corp., a position he had held since 1998. Prior to this, he was president of the Philippine National Bank from 1996 to 1998 and Security Bank Corp. from 1990 to 1995.