Friday 24 May
Dec 31, 2018 @ 12:18

The year that was: Here are Pinoy bizmen who passed away in 2018


Big businesses lost their patriarchs this year.

The year 2018 was definitely a roller-coaster ride for the markets amid a highly volatile local and global environment. Other conglomerates, however, had to deal with the extra burden of mourning their loss of a valued executive and even founding fathers.

Here’s a list of some of the iconic chiefs who passed this year:

Donald Dee, 72

The president of the Employers Confederation of the Philippines passed away Dec. 1. He was also Honorary Chairman and Chief Operating Officer of the Philippine Chamber of Commerce and Industry and Founding Trustee of the Philippine Business for Education.

Previously, he served as special envoy for trade negotiations for former President Gloria Macapagal-Arroyo, was a former member of the ASEAN Business Advisory Council (ABAC)-Philippines, and led companies like the Pan Pacific Airways and Phoenix Resource and Management Corp., and as commissioner of the Social Security System.

George S.K. Ty, 86

Ty died on Nov. 23. Known as a sharp businessman and philantropist, Ty established the Metrobank Group in 1962, which has since ballooned to become diversified as GT Capital Holdings. The conglomerate is now into insurance, leasing, investment banking, car distribution, among others.

Jon Ramon Aboitiz, 70

The chairman of Aboitiz Equity Ventures Inc. passed away in November after a long battle with cancer. The Spanish-Filipino businessman was responsible for growing their Cebu-based business into a listed conglomerate with various interests in power, banking, real estate and food.

Roberto Fung Kuan, 70

The founder of fast food giant Chowking passed away in September. He was president of Chowking Food Corp. from 1995 to 2000 after Jollibee bought it out. He was also a former chairman of the board for St. Luke’s Medical Center.

Dominic Sytin, 51

This one was tragic. Sytin, a known philanthropist and founder of United Auctioneers, Inc., was shot dead in Subic last November by masked riders.

Valentin Araneta, 69

The Monetary Board member from the Bangko Sentral ng Pilipinas succumbed on Feb. 21 halfway through his term. Prior to this, he was president and chief executive officer at the Philippine Deposit Insurance Corporation and was a seasoned bank executive before joining government.

Victor Consunji, 68

The president of Semirara Mining and Power Corp. died just before the year closed. He was also director of DMCI Holdings, Inc., the listed firm which holds all of the Consunji family businesses together.

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