Tuesday, May 20, 2008 Business sector grieves over loss of ‘man of innovations’
LOCAL business leaders were shocked to hear about the news of Luis Alfonso Aboitiz’s death Saturday night.
This came as police yesterday refused to conclude about whether Aboitiz shot himself to death or was killed after his firearm accidentally went off, considering that he did not leave any suicide note.
Luis Alfonso, 48, was found dead on the bed inside guest room of his parents’ house in Maria Luisa Estate Park at around 7 p.m.
His body was cremated yesterday morning after a 10 a.m. requiem mass at the Asilo dela Milagrosa church.
Not a word about the death of Luis Alfonso, a member of the board of directors and executive vice president of the power distribution group of the Aboitiz Power Corp. (AP), was uttered by any company executive during AP’s first annual stockholders’ meeting since it became listed.
Only a few chairs were occupied by stockholders in the two ballrooms at the Marriott Hotel that were reserved for 80 people for the AP and Aboitiz Equity Ventures Inc. (AEV) annual stockholders’ meetings yesterday. The AP stockholders’ meeting was held in the morning while the AEV met in the afternoon.
Of nine directors, only four were present and sat at the presidential table: Jon Ramon M. Aboitiz, chairman; Erramon I. Aboitiz; Mikel Aboitiz and Juan Antonio E. Bernad. Also present were Iker M. Aboitiz, first vice president, chief financial officer and chief information officer, and Jasmine S. Oporto, corporate secretary.
The atmosphere in the AP meeting was somber, although Erramon—also president and chief executive officer—reported a 124-percent year-on-year growth in the company’s net income, and the agenda was briskly dispensed with.
AEV corporate communications staff requested the press covering the meeting to refrain from asking about Luis Alfonso’s death in the press conference in deference to the Aboitizes who, only an hour before the AP meeting, held a service during the cremation of the deceased executive’s remains.
After the press conference, attended by Erramon, Iker and Bernad, the AP executives went into a closed-door meeting with other board directors.
In a radio dyLA interview, Cebu Business Club president Dondi Joseph said Aboitiz was a brilliant and tireless visionary who will be surely missed by his peers and colleagues.
Francis Monera, regional governor of the Philippine Chamber of Commerce and Industry, said he was saddened by the news.
Roberto Go, former Cebu Chamber of Commerce and Industry president, said he was shocked when he learned the news and that it is sad that Aboitiz had to die that way.
He also said that Aboitiz implemented many innovations during his stint at the family-owned Visayan Electric Company (Veco). (LAP/RCT)
