Cesar A. Buenaventura, whom Aboitiz succeeds, was the first Filipino CEO and chair of the Shell Group in the Philippines and one of the country’s longest-serving and most respected directors.
Buenaventura, who passed away on Dec. 10 at the age of 96, later served as an independent director at ICTSI, where he played an active role in audit, corporate governance, and board risk oversight.
ICTSI is one of the world’s largest cargo port operators and the most valuable member of the Philippine Stock Exchange index, with a current market value of P1.2 trillion.
Honoring Cesar Buenaventura’s legacy
The board paid tribute to Buenaventura’s distinguished service, citing his integrity, steady judgment, and lasting influence on the company’s governance culture.
His career spanned decades across business and public service, including leadership roles in major Philippine corporations and service on the Monetary Board during the Marcos Sr. administration.
He was also recognized for his broader contributions, from founding the Pilipinas Shell Foundation to long-standing involvement with the Makati Business Club.
Continuity across governance and leadership
Aboitiz will serve the unexpired term effective January 1, 2026, and will assume Buenaventura’s committee roles, including chair of the Related Party Transactions Committee.
He will also sit on the audit, corporate governance, environment, social and governance, and board risk oversight committees.
Separately, the company confirmed the appointment of Amabelle C. Asuncion as corporate secretary, and noted that there were no other material changes to its board composition or senior management.
—Edited by Miguel R. Camus
