Aboitiz Equity Venture chairman passes away at 70

04/12/18 01:39 PM By Nico

Jon Ramon Aboitiz, one of the pillars of business conglomerate Aboitiz, and chairman of Aboitiz Equity Ventures (AEV) passed away at the age of 70, sources confirmed on Friday.


Aboitiz, known by his initials “JRA” or Jon, was a member of the company’s board of directors since 1994. Since then, he has been serving the company as its president and executive officer until 2009, before passing the post to his cousin, Erramon I. Aboitiz.


He served as the chairman of the conglomerate’s board of directors until his death and during those years, had been instrumental in the growth of the various businesses of the group. According to Forbes 2018 report, his net worth was at US$265 million.


The Aboitiz Group of Companies, according to their official website, dates back as far as late 1800 when the founder, Paulino Aboitiz, founded Aboitiz & Company as an abaca trading and general merchandise business in Ormoc, Leyte.


Since then, the Aboitiz group has diversified its core business to power generation, distribution and retail electricity supply, among others, with the AEV having subsidiaries in power, banking, food, land, and infrastructure.


Prior to his death, there had been reports that Jon Ramon was battling with cancer, but family members and company executives have not given the exact details as they all appealed for privacy while they mourn his death.


Public viewing on his remains will be on December 2, Sunday, from 10:00 am to 3 pm at the Heritage Park in Taguig City, while mass will follow right after.


His body will be brought to his home province, Cebu, on December 3.

Source: Original Article

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