John Paul Ang steps up as Petron president, COO

Petron Corporation on Thursday announced a key change in leadership, with Ramon Ang handing over the role of president and chief operating officer (COO) to his son John Paul Ang.

Ramon Ang has been announced as chairman and chief executive officer, while his son John Paul took over as president and COO, roles he also assumed in San Miguel Corp. in June 2024.

The country’s only oil refiner on Thursday also announced the election of its board directors following its annual stockholders meeting, including both Ramon and John Paul Ang.

Among those elected were Lubin Nepomuceno, Ron Haddock, Mirzan Mahathir, Aurora Calderon, Francis Jardeleza, Virgilio Jacinto, Nelly Favis-Villafuerte, Emmanuel Eraña, Jacqueline Ang, Rey Leonardo Guerrero, Consuelo Ynares-Santiago, Teresita Leonardo-de Castro and Ricardo Marquez.

Petron reported a 56% drop in its first-quarter net income to P1.8 billion from P4 billion a year ago, dragged by higher product costs, the absence of refinery production in Malaysia, and reduced output in the Philippines amid the Middle East conflict. —RF, GMA News