Business tycoon Danding Cojuangco Jr passes away at 85

Business tycoon Eduardo "Danding" Cojuangco Jr. has passed away.

Cojuangco's passing was announced by San Miguel Corporation, of which he was chairman and chief executive officer, in a statement on Wednesday.

"San Miguel Corporation announces the passing of its Chairman and Chief Executive Officer, Mr. Eduardo M. Cojuangco Jr., on the evening of June 16, 2020," SMC said in the statement.

Cojuangco, who just celebrated his 85th birthday last June 10, had been chairman and CEO of San Miguel Corporation since July 7, 1998, the statement added.

“The Board of Directors and the entire San Miguel Group deeply mourn the passing of our Chairman and Chief Executive Officer, Eduardo M. Cojuangco Jr.,” SMC said.

The company said Cojuangco, who they call “ECJ,” has guided the San Miguel Group for decades, “making a difference in the lives of so many of our employees, past and present.”

“Values he lived by—malasakit, and sama-sama, the idea that we either make it together or not at all—are at the heart of what it means to be San Miguel,” it said.

SMC said Cojuangco’s contributions to the company’s history are numerous and indelible.

“An agriculturalist at heart, he championed the development of rural Philippines and the setting up of our agro-industrial operations,” it said.

“As SMC chairman, he guided our expansion, diversification, and transformation. His vision for San Miguel—to be a beacon of hope for the Philippines and a partner in nation-building—remains at the core of everything we do,” it added.

“We offer our deepest sympathies to his family and loved ones. Salamat, Boss Danding,” SMC said.

SMC is one of the country’s largest conglomerates whose businesses include food, beverage, energy, power, oil refining and infrastructure.

Aside from being a successful businessman, Cojuangco was also into politics: he was chairman emeritus of the Nationalist People's Coalition and ran for president in the 1992 elections but lost to Fidel V. Ramos.

He was also a former governor of Tarlac province and a former ambassador.

Cojuangco was a first cousin of the late President Corazon "Cory" Aquino and uncle of former President Benigno "Noynoy" Aquino III. He, however, was an ally of the late President Ferdinand Marcos, whose decades-long regime was toppled in 1986 through an uprising that catapulted Cory to power. 

Malacañang, meanwhile, condoled with the family of Cojuangco as it lauded him for his  “immense contribution to the socioeconomic development of the Philippines” through SMC.

“We are deeply saddened by the passing of [Mr. Eduardo “Danding” Cojuangco, Jr.],” presidential spokesperson Harry Roque said in a statement.

“The Palace offers its fervent prayers for the eternal repose of the soul of Mr. Cojuangco as we convey our heartfelt condolences to his family, colleagues, friends, and loved ones.”

NPC members -- among them Senate President Vicente Sotto III, Sen. Sherwin Gatchalian and former senators JV Ejercito and Chiz Escudero -- have mourned Cojuangco's passing. --with Ted Cordero/KBK, GMA News