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Business

SSI, Araneta Properties bare new appointments

Richmond Mercurio - The Philippine Star

MANILA, Philippines — Specialty retailer SSI Group Inc. and real estate firm Araneta Properties Inc. have announced key executive appointments following recent developments in both companies.

SSI said Bienvenido Tantoco III has been appointed as the new chairman of the board while Anthony Huang was named as the company’s new CEO.

Tantoco previously served as a director of SSI prior to the appointment while Huang was SSI’s president, a position which he will continue to hold.

Their appointments became effective on Feb. 21, 2024.

The changes comes following the passing of Zenaida “Nedy” Tantoco, SSI’s former chairman and CEO, earlier this month.

Meanwhile, Araneta Properties announced the election of Luis Araneta as the company’s new president following the resignation of Crisanto Roy Alcid.

“Due to the vast amount of work associated with Gregorio Araneta Inc. and the Gregorio Araneta III group of companies, Crisanto Roy Alcid has tendered his resignation as the president of Araneta Properties Inc. which the board of directors has accepted,” the listed company said.

With the vacancy in the position, Araneta Properties said its board elected Araneta to be the company’s new president effective Feb. 22, 2024.

“In abidance with law which prohibits an officer from subsequently holding both positions of president and treasurer, Luis M. Araneta has concurrently resigned as the treasurer of the company in order to serve as the company’s new president,” Araneta Properties said.

Elected as Araneta Properties new treasurer is Alcid, the company said.

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SSI GROUP INC.

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