The Management Association of the Philippines (MAP) said Rene D. Almendras, the president and CEO of AC Logistics Holding Corp. and Public Affairs Group Head of Ayala Corp. (AC) has taken on the role of leading the business organization for 2024 with his election as its 76th President.
MAP said Almendras has “vast” experience in the private and public sectors. The business organization noted that he serves as senior managing director of AC.
“He is a Board Director of the following companies within the Ayala Group: AC Energy and Infrastructure, Light Rail Manila Holdings, Inc., Entrego, Air 21 Holdings, Inc., and its subsidiaries,” MAP said in its statement.
According to the business organization, Almendras spent 13 years with the Citibank group where he started as a management trainee and landed his first CEO position as President of City Savings Bank of the Aboitiz Group at the age of 37.
Meanwhile, during his stint as president of Manila Water Co. Inc. (MWCI) in 2011, Almendras was recognized by the World Economic Forum as a “Sustainability Champion.”
During Almendras’ term as MWCI’s president and COO, he received multiple awards and was recognized as one of the “Best Managed Companies in Asia, Best in Corporate Governance, one of the Greenest Companies in the Philippines, and hailed as the world’s Most Efficient Water Company.”
As a public servant, Almendras served in various “high-level” positions namely: Secretary of Energy, Cabinet Secretary and Secretary of Foreign Affairs.
In June 2016, he was awarded the Order of Lakandula, Rank of Gold Cross Bayani, a Presidential award and the highest honor given to a civilian by the Republic of the Philippines, MAP noted.
The award was President Benigno Aquino III’s recognition of his exemplary service during his administration.
Joining Almendras on the MAP 2024 Board of Governors are KPMG R.G. Manabat & Co. Vice Chair and COO Emmanuel P. Bonoan as VP; HSBC Philippines Treasurer and Head of Markets and Securities Services Maria Corazon D. Purisima as Treasurer; GCash/Mynt President and CEO Martha M. Sazon as Assistant Treasurer; and CEO Advisers, Inc. Partner Karen V. Batungbacal as Secretary.