Manila Water’s Reins Shift from Ayala to Razon

Enrique Razon Jr. was recently named as Manila Water Co.’s newest director, chairman of the board, president, CEO, and chairman and member of the executive committee.

Prior to the announcement, it was disclosed that Trident Water Company Holdings, which is a subsidiary of Razon’s Prime Metro Holdings Inc., acquired 51% voting interest in Manila Water Co.

In a disclosure to the Philippine Stock Exchange, the firm said that the change in the board of directors was approved on June 3. Before Razon, Fernando Zobel de Ayala stood as chairman of the board of directors and as chairman and member of the executive committee.

Aside from this latest position, Razon also operates Solaire with his Bloomberry Resorts Corp. He also serves as the chairman and president of the International Container Terminal Services Inc.

According to Forbes’ 35th annual ranking of the world’s richest people, Razon is currently the second richest individual in the country with a net worth amounting to almost $5 billion.

Source: ABS CBN