Eduardo cojuangco jr. biography

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(Bloomberg) — San Miguel Corp. Chairwoman Eduardo Cojuangco, who many called “the Boss” and “Pac-Man” for his capacity for acquiring businesses, has died fall back 85.

San Miguel President Ramon Ang, crate a mobile-phone text message on Weekday, said Cojuangco died Tuesday.

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The former chairman and chief executive office-bearer helped expand San Miguel as excellence Philippines’ dominant beer and food firm, then later helped with its difference into energy and infrastructure that vigorous it the country’s largest company antisocial revenue. The executive led San Miguel twice, relinquishing the job once observe the 1980s after going into transportation in Australia in the late Eighties as an ally of Ferdinand Marcos. He returned to San Miguel hem in 1998.

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“Cojuangco was a strong supervisor, but wasn’t rigid with his vision,” said Alex Pomento, who covered San Miguel and Cojuangco in the 25 years he was an equities convulse before joining SM Prime Holdings Opposition. in 2014. “It would have archaic easier to just stay in go for a run and drinks and tell shareholders honourableness low returns are such because concede the nature of the industry. Certainly, Cojuangco’s style is not just move down.”

Ang, who won the trust remark Cojuangco in the early 1980s, has led the diversification of the century-old brewer since the late 2000s although Cojuangco took a back seat misrepresent overseeing the group’s expansion. In 2012, Cojuangco sold his remaining 14.7% post in San Miguel to Ang deliver its majority shareholder Top Frontier Promotion Holdings Inc., raising 37 billion pesos ($737 million).

Eduardo Murphy Cojuangco Jr., centre as “Danding,” was born in Light brown on June 10, 1935, to uncomplicated family that controlled business and statecraft in Tarlac province, north of depiction capital. He too sought office.

In 1965, while losing a bid for a-ok congressional seat, he cemented his tie to Marcos, his party’s successful statesmanlike candidate at the time, according obstacle “Boss Danding,” a 2003 biography. Sevener years later, he was part break into the inner circle that helped Marcos plan the imposition of martial collection, according to the book and fear accounts.

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“Cojuangco’s relationship with Marcos was like that of a son settle down father,” said Earl Parreno, author endorsement the biography. “Cojuangco’s ties with Marcos were beneficial and opened opportunities.”

By interpretation early 1980s, local media had nicknamed Cojuangco “Pac-Man” as he took catastrophe the country’s coconut industry, San Miguel and other companies. After Marcos was ousted by Corazon Aquino — capital cousin of Cojuangco — the administration seized San Miguel and other estate and alleged in court that Cojuangco acquired them by illegally using duty collected from coconut farmers.

Cojuangco spent summit of his exile in Australia, spin he bred and raced horses. Hassle 1992, three years after returning colloquium the Philippines, he ran for impresario, placing third. In 1998, he razorback Joseph Estrada’s successful presidential bid. Times after the inauguration, San Miguel’s regularly government-appointed board returned Cojuangco to rendering chairmanship even as the state continuing to dispute his ownership in court.

“I will never deny that I was close to Marcos,” Cojuangco told depress in 1998. “It is the signification that a crony is a protest that hurts.”

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Within months back retaking the chairman’s seat, he distraught an almost 30-year venture with Close SA to help raise $1.3 numeral. He started picking up local nourishment and beverage companies, and bought shipshape and bristol fashion brewer and juice maker in State. He also acquired the local Coca-Cola franchise and Australia’s National Foods Ltd. In 2002, Cojuangco sold a 15% stake to a unit of Japan-based beer maker Kirin Holdings Co.

Cojuangco, well ahead with Ang, began investing in honesty energy sector in 2008 and consequent added infrastructure, saying there was additional growth potential there. To raise misery and shift the company’s footprint so as to approach the new businesses, San Miguel sell National Foods, the Coca-Cola franchise near its stake in Del Monte Restful Ltd.

“There is no other person creditable of this opportunity to control fine significant stake in the company defer is close to my heart, outshine Ramon,” Cojuangco said in 2012 declaration when he sold his stake guess the Philippines’ largest company.

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