Almendras named new MAP president

Former secretary Jose Rene Almendras on Monday was named the next president of the Management Association of the Philippines (MAP), and is set to become the 17th leader of the influential business organization once he begins his one-year term in 2024.

A cabinet secretary during the time of former President Benigno S. Aquino III, Almendras has vast experience in both the private and the public sectors.

Today, he sits as the senior managing director at the Ayala Corp., serving as a board director of the various subsidiaries of the company including AC Energy and Infrastructure, Light Rail Manila Holdings, Inc., Entrego, and Air 21 Holdings, Inc. Joining Sec. Almendras on the MAP Board of Governors for 2024 are KPMG R.G. Manabat & Co. vice chair and chief operating officer Emmanuel Bonoan as the vice president; HSBC Philippines treasurer and head of markets and securities services Maria Corazon Purisima as treasurer, GCash and Mynt president chief executive officer Martha Sazon as assistant treasurer and CEO advisers, Inc. Partner Karen Batungbacal as secretary. —Alden M. Monzon INQ