Zobel resumes Shell duties

MANILA, Philippines — Fernando Zobel de Ayala has returned to chair the corporate governance committee of Pilipinas Shell Petroleum Corp. (PSPC)’s board of directors following his medical leave last year.

“Please be informed that Mr. Fernando Zobel de Ayala, independent director of the corporation, has returned from his medical leave,” PSPC said in a stock exchange filing yesterday.

In view of this, PSPC said Zobel resumed his chairmanship of the board’s corporate governance committee.

PSPC’s board of directors in November last year approved the medical leave of Zobel, an independent director and chairman of its corporate governance committee.

Appointed as interim chairman of the committee was Cesar Buenaventura.

PSPC said that with Zobel’s return, Buenaventura would remain a member of the said committee, and would resume his chairmanship of the board audit and risk oversight committee.

Former Bangko Sentral ng Pilipinas governor Amando Tetangco Jr., who was earlier appointed as interim chairman of the board audit and risk oversight committee, will continue to be a member of the said committee, according to PSPC.

PSPC currently has a network of about 1,100 stations nationwide, with plans to open 40 to 60 mobility sites per year until 2025.

Its non-fuel retail network covers 208 Shell Select stores, 223 Select Express, 87 Deli2Gos, and 470 Lube bays.

Aside from continuing expansion of its network of stations, PSPC is also preparing for the development of its fifth medium range-capable import terminal.

Construction of its fourth medium range-capable import terminal in Davao commenced last year and is eyed to be operational by the third quarter of 2024.

Last month, PSPC and Shell Energy Philippines also entered a tripartite memorandum of agreement with the Department of Energy to conduct a pilot study of electric vehicle charging stations supplied by renewable energy, such as solar.