Biz Buzz: Another next-gen Aboitiz takes top spot

Looks like the conglomerates are ready to pass on key management roles to their next generation of leaders—likely those who had been trained to head billion-peso companies since they could walk.

This time, Aboitiz Land Inc., the real estate arm of the Aboitiz Group, is handing the reins to Rafael Fernandez de Mesa, a fifth-generation family member.

Fernandez de Mesa is set to succeed David Rafael, the current CEO of Aboitiz Land, by Jan. 1, 2025.

According to the “techglomerate,” he brings with him “a wealth of industry expertise” as the current head of economic estates of the group’s infrastructure arm, Aboitiz InfraCapital Inc.

These estates in the provinces of Batangas, Cebu and Tarlac span nearly 2,000 hectares and have so far cornered P155 billion in investments, Aboitiz Land said in a statement on Tuesday.

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But it’s not Fernandez de Mesa’s first time with Aboitiz Land. Of his 15 years with the group, he actually spent a decade with the property firm holding various positions, most notably first vice president of operations.

We’re on the edge of our seats to watch where Fernandez de Mesa will bring Aboitiz Land—and whether he’ll be one of the key factors in making “techglomerate” a thing.