The Board of Directors of SBS Philippines Corporation in its special meeting held on 29 January 2016, approved the acceptance of the resignations of Atty Edwin R. Abella as non-executive director, effective 29 January 2016 and of Mr. Necisto U. Sytengco as President of the company, effective 29 January 2016. The company approved the appointment of Mr. Gerry D. Tan as President & Chief Executive Officer and as an additional member of the Executive Committee of the Board, effective 29 January 2016. He succeeds Mr. Necisto U. Sytengco who has relinquished his post as President which he has held on an interim basis.

Mr. Sytengco, founder of the company, will continue as Board Chairman and Chairman of the Executive Committee of the company. Mr. Esmeraldo A. Tepace who held the post of Executive Vice President & General Manager of the company has been re-designated as Executive Vice President & Chief Operating Officer of the company. Similarly, Mr. Necisto Y. Sytengco II has been re-designated as Senior Vice President for Marketing Operations (formerly SVP-Sales & Marketing) and Ms. Lali Y. Sytengco as Vice President-Purchasing (formerly VP for Procurement).