The VLL chairman endorsed former Socioeconomic Planning Secretary Romulo Neri as independent director to VLL’s 15-man board. Neri and Villar were clasmates at the Univesity of the Philippines.
Neri graduated magna cum laude and class valedictorian from UP in 1970. He took his MBA in finance and international management from the University of California in Los Angeles in 1979.
Aside from heading the National Economic and Development Authority during the Arroyo administration, the 71-year old Neri was also Budget Secretary, Monetary Board member, Commission on Higher Education chairman, and Social Security System president and CEO.
Villar has also tapped Divina Law consultant and former Securities and Exchange official Justina F. Callangan as independent director. She used to head the SEC’s Corporation Finance Department.
They will replace abogado Ruben Fruto and Marilou Adea who have reached the maximum term limit for independent directors.
VLL is currently being run by Villar’s 44-year old son, Paolo.