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Aboitiz Power family carousel: Erramon, Enrique, Jaime out; Sabin, Luis in

The Aboitizes are revamping their power unit’s board room with new family members coming in and one less seat.

Sabin M. Aboitiz replaced outgoing Aboitiz Power chairman Erramon I. Aboitiz during its annual stockholders’ meeting on April 27.

Luis Miguel O. Aboitiz also moved into the board to take over the seat vacated by Enrique M. Abotiiz.

Luis Miguel was appointed vice chairman in place of Mikel A. Abotiz who stayed on as director of the board.

Jaime Jose Y. Aboitiz was the third family member who left the AP board and he was replaced by a new face, Union Bank of the Philippines president Edwin R. Bautista.

The fourth family member who remained on the board is Danel C. Aboitiz, husband of Mariana Zobel de Ayala.

Aside from Bautista, AP also welcomed another fresh face – former Energy Secretary Raphael Lotilla – who replaced former Finance Undersecretary Romy Bernardo.

The other directors retained in the nine-member AP board are Emmanuel V. Rubio, Carlos C. Ejercito, and Eric Ramon Recto.

Aside from the election of directors, the stockholders also approved the increase in per diem of the board chairman and chairmen of its committees.

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