Gregorio Araneta III now PhilWeb chairman

More than a month after businessman Roberto V. Ongpin resigned as chairman and director of publicly-listed PhilWeb Corp., the online gaming technology provider on Monday said it has picked a new chairman.

"PhilWeb Corporation wishes to inform the Exchange that during the meeting of the Board of Directors held this morning, Mr. Gregorio Ma. Araneta III was elected as Chairman of the Board of Directors of the Company, to replace Mr. Roberto V. Ongpin, who resigned from his position of Chairman last month," the company told the Philippine Stock Exchange.

Araneta, a PhilWeb director for a number of years now, was said to be the second-largest shareholder of the company.

His direct ownership of PhilWeb amounts to 100 shares, while indirectly owning 13,043 million shares through real estate firm Gregorio Araneta Inc., of which is the chairman.

"In addition to his investment in the company, Mr. Araneta has various other business interests in property development and energy," PhilWeb said.

Araneta serves as an independent director of Atok-Big Wedge Co. Inc., Alphaland Balesin Island Club Inc., and the City Club at Alphaland Makati Place Inc.

He also serves as the chairman and CEO of Araneta Properties Inc., president and chairman of ARAZA Resources Corporation and Carmel Development Corp., as well as  chairman of Gregorio Araneta Management Corp., and Gamma Properties Inc.

Ongpin resigned from the company on August 4, after having been tagged by President Rodrigo Duterte as among the oligarchs embedded in the government which needed to be destroyed. — Jon Viktor Cabuenas/VDS, GMA News