NEW LEADERSHIP. Danel Aboitiz (left) will replace Emmanuel Rubio as Aboitiz Power Corp. president and chief executive officer on July 1, 2024. Rubio, who is turning 60 years old, will be retiring, according to the listed firm. (Courtesy of AboitizPower)
MANILA — Aboitiz Power Corp. president and chief executive officer Emmanuel Rubio will step down from his current position in the second half of the year.
In a disclosure with the Philippine Stock Exchange Friday, the company also called AboitizPower said Rubio will be replaced by Danel Aboitiz, who currently holds position of director and chief commercial and stakeholder engagement officer, starting July 1.
Rubio assumed his current position in AboitizPower in January 2020.
“Manny Rubio is turning 60 and will be retiring. In line with the company’s succession plan, Danel Aboitiz will assume the position as president and CEO effective 1 July 2024. Danel inherits a company in great shape and the company is confident that he will take AboitizPower to the next level,” according to the Viber message of AboitizPower to reporters.
In 2023, the company grew its net income by 29 percent to PHP32 billion.
The 42-year-old Aboitiz has been involved in various units of AboitizPower including SN AboitizPower Group and AP Renewables Inc. from 2010 to 2016.
From 2016 to 2018, he served as the president and chief operating officer for the company’s coal and business units.
Outside the family business, Aboitiz was also appointed last year as Private Sector Representative for Mindanao for the Inter-Agency Investment Promotion Coordination Committee of the Department of Trade and Industry.
“He also serves as a Director of the Philippine Electricity Market Corporation, Vice Chairman of the Philippine Independent Power Producers Association, and Vice Chair of the Energy Committee of the Management Association of the Philippines,” the listed firm added.
Aboitiz graduated from the University of Edinburgh with a Master's Degree in Philosophy and Politics. (PNA)
