Alsons Consolidated Resources, Inc. Announces Management Changes
February 17, 2021 at 10:16 pm
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Alsons Consolidated Resources, Inc. has announced Tomas I. Alcantara's decision to retire as the company's Chairman and President, for health reasons, effective 1 March 2021. He will remain a director of the company. Nicasio I. Alcantara will assume the position of ACR Chairman and President upon the former's retirement. Nicasio Alcantara previously led ACR as Chairman and President from 1995 to 2001. He was Chairman and Chief Executive Officer of Petron Corporation from 2001 to 2009. He currently holds leadership positions and board directorships in several companies including ACR Mining Corporation where he serves as Chairman and Phoenix Petroleum where he sits as an independent director. ACR's board of directors have likewise confirmed the appointment of Alexander Benhur M. Simon as Vice President and the assumption of Antonio Miguel B. Alcantara to the new position of Chief Investment and Strategy Officer.
Alsons Consolidated Resources, Inc. is a Philippines-based investment holding company. The Companyâs secondary purpose is oil exploration. The Companyâs subsidiaries are engaged in power generation, property development, industrial estate management and other investments. The Company conducts its business activities through two segments: Power and Energy, and Property Development. The Companyâs energy and power operations are located on three different sites. Its subsidiary, Western Mindanao Power Corporation (WMPC), has a power plant on a nine hectares property in Sitio Malasugat, Sangali, Zamboanga City, and its subsidiary, Southern Philippines Power Corporationâs plant is situated on a 16 hectare property located in Alabel, Sarangani Province, which is 13 kilometers east of General Santos City. Property Development segment acquires, develops, sells and holds for investment or otherwise, real estate of all kinds, subleases office spaces and manufactures door and house frames.