Alberto Romulo, finance secretary of the Government Service Insurance System (GSIS), has hinted that the government may soon have majority control of the San Miguel Corp board, and with it be able to oust much-maligned chairman Eduardo Cojuangco.
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The president of the GSIS, Winston Garcia, revealed that the state pension fund has now solicited enough proxies to nominate its executive vice-president, Roberto Malonzo, to a seat on the board of the country’s largest food and beverage group.
If this were finalised, the government would have majority control of the board, holding eight of the 15 seats.
