8 November – The Makati Business Club Board of Trustees today announced the election of Edgar O. Chua, Chairman of the Pilipinas Shell Petroleum Corporation, as the new chairman of MBC. Mr. Chua succeeds Mr. Ramon R. Del Rosario Jr., president and CEO of Phinma, Inc.

Mr. Del Rosario said, “After 10 years as MBC chairman and with the administration gaining pace in its reform agenda, I believe it is anopportune time to turn over the leadership of MBC to a younger chair. I nominated Ed knowing that he possesses the vision, commitment, and energy to shepherd MBC as a leading voice of Philippine business at a time of strong economic growth, greater international awareness, and significant change. I am happy that the MBC Board elected Ed unanimously.”

“It has been a great privilege serving as your chairman when we experienced great highs and lows as a people. I step down, grateful for the opportunity to have contributed to the Philippines’ revival as a bright spot in Asia. I thank my colleagues for the trust and support as your chair these past years, and I will continue to serve MBC under Ed’s capable leadership,” Mr. Del Rosario added.

Commenting on his election, Mr. Chua said, “I am deeply honored and humbled that my fellow trustees have placed their trust and faith in me by electing me to the role.  I have extremely big shoes to fill as Ramon has led MBC so well in the last 10 years.  I look forward to working with the Board and the rest of the Club in building on the achievements of MBC by expanding its efforts and reach as the Forum for Constructive Ideas, working with other business organizations, providing independent insights, being a credible representative of Philippine business domestically and overseas and partnering with government to attract more investments and generate much needed employment for our people.”

Mr. Chua has been a member of the Board of Trustees since 2010. Also elected as officers were Mr. Roberto de Ocampo OBE and Mr. Jaime Augusto Zobel de Ayala as co-Vice Chairmen, Mr. Aurelio Montinola III as Treasurer, and Atty. Cirilo Noel as Corporate Secretary.