The Philippine Stock Exchange has refreshed its board with two high-profile additions: Cecile L. Ang as director representing San Miguel Corp., and Jaime J. Bautista as independent director.
Ang, the daughter of tycoon and SMC chair and CEO Ramon S. Ang, replaces Ferdinand K. Constantino, who stepped down effective Nov. 27, 2025 along with his committee posts in audit, related party transactions and corporate governance.
Bautista, for his part, fills the seat vacated by Andrew Jerome T. Gan, who resigned earlier this month.
New faces in the PSE board
Ang enters the PSE board with multi-sector experience behind her.
She serves as vice president of New Naia Infrastructure Corp., chairs San Miguel Foundation, and has overseen corporate social responsibility work ranging from school expansion and Better World learning programs.
She also leads Diamond Hotel as president, a role she has held since 2004.
Bautista adds aviation leadership and government experience
He was previously transportation secretary under the Marcos administration, after earlier serving on boards in mining, banking, shipping and leisure development.
He is best known for his leadership as president and chief operating officer of Philippine Airlines from 2004–2012 and 2014–2019, alongside his stint heading Air Philippine (now PAL Express).
Their pairing broadens experience on the table at a time when regulatory decisions and market oversight continue to draw attention.
—Edited by Miguel R. Camus
