SAN Miguel Food and Beverage, Inc. (SMFB) has elected former Department of Transportation (DOTr) secretary Jaime Bautista as an independent director following a special board meeting held on Friday.
In a disclosure, the company said Bautista joined the board immediately to serve the unexpired term of Ferdinand Constantino, who resigned as director and treasurer effective Jan. 31, 2026.
Bautista, 68, previously served as Transportation secretary from 2022 to 2025 and also served as president and chief operating officer of Philippine Airlines in two separate terms.
He is currently chairman of SKAL International Makati and sits on the board of several professional and civic organizations.
The board also appointed Monica Ang as treasurer, concurrent with her roles as chief finance officer and chief risk officer, also effective Feb. 6.
Ang will likewise serve the unexpired term of Constantino as treasurer.
The board also approved the declaration of regular cash dividends amounting to P0.50 per share on SMFB’s outstanding common shares.
The record date was set for Feb. 20 with payment scheduled on March 6, while the closing of books will be from Feb. 21-26.
San Miguel Food and Beverage shares slipped P0.10, or 0.19 percent, to close at P53.50 each on Friday.
