PhilWeb Corporation (PSE: WEB) announced on Monday that its Board of Directors has elected Gregorio Ma. Araneta III as Chairman of the Board of Directors of the company. Araneta is married to former President Ferdinand Marcos’ daughter, Irene Marcos-Ma. Araneta.

Here are three fast facts about Philweb’s new chair, Greggy Araneta III.

1. Philweb said in a company disclosure to the Philippine Stock Exchange (PSE) that Araneta is the company’s second largest shareholder. He replaced Roberto Ongpin, who resigned in August.

Araneta owns an amount of 100 shares of the company. This equates to his P13 million worth of common shares of Philweb under his name, which is equivalent to a 0.91 percent stake.

 Araneta’s election to the post as new Chairman of the company follows the series of unfortunate events that occurred in Philweb since August. The company’s 286 e-Games outlets were not renewed for operations and President Rodrigo R. Duterte singled out Ongpin as an “oligarch.”

 READ: PhilWeb’s Operating License Expires, Pagcor Won’t Renew

2. Araneta has been an Independent Director of the Company since 2014. He is also engaged to various other business interests in property development and energy.

Araneta is connected to 35 board members in five different organizations across five different industries, Bloomberg reported. He serves as the Chairman and Chief Executive Officer (CEO) of Araneta Properties Inc. (ARA), President of Araza Resources Corporation, Envirotest Corporation, Enviroclean Corporation and Carmel Farms Inc., and President of Araneta Properties Inc (ARA).

Araneta also serves as as Chairman of the Board of Autobus Transport Systems Inc. (Autobus), Gregorio Araneta Management Corp., Gregorio Araneta Inc., Gamma Holdings Corporation, Carmel Development Corp. and Gamma Properties Inc.He also held various other executive positions to the following companies:

  • ISM Communications Corp. (ISM)
  • Atok-Big Wedge Co. Inc. (Atok)
  • Alphaland Corporation (ALPHA)
  • LBC Development Bank (LBC Bank)
  • Asia International Travel Corporation

3. Araneta earned his degree in Economics at the Ateneo de Manila University (ADMU). He also studied at the University of San Francisco (USF).

Although he also came from a family of politicians with his grandfather being the Secretary of the Malolos Congress and father-in-law as the former president, Araneta maintained his interests in business.

What do you think of the new Philweb Chairman, Greggy Araneta? Let us know in the comments section below.