Santos was promoted from chief operating officer and executive vice president effective Oct. 2, replacing Augusto Antonio C. Serafica Jr., who resigned as president for personal reasons.
Serafica is 64 years old while Santos is 75, based on the company’s annual report this year.
The appointment caps a long rise at Marcventures for Santos, who previously served as company treasurer before becoming COO and executive vice president in September 2022.
He is also chair of Romualdez-owned Bright Kindle Resources & Investments Inc., where Serafica serves as president and CEO, placing the two executives at the top of both companies.
Bright Kindle owns nearly 20 percent of Marcventures while Romualdez’s RYM Business Management Corp. owns about 10.3 percent, corporate records showed.
Meanwhile, Santos also holds treasury positions at Marcventures Mining and Development Corp., Prime Media Holdings, another company owned by the Romualdez family.
Before moving into the group, Santos spent more than four decades in banking, including stints at Far East Bank, Producers Bank, Bank of Commerce and BDO, where he worked until 2013.
—Edited by Miguel R. Camus
