BIZ BUZZ: Alsons Power CEO retires; deputy CEO to take over

After three decades of serving Alsons Power in various capacities, CEO and executive vice president Tirso Santillan Jr. is retiring and passing on the crown to his deputy CEO, Antonio Miguel Alcantara.

The power arm of the Alcantara family on Thursday announced that Santillan’s retirement would be effective on March 31. Alcantara will sit as the new head on April 1.

Known as “Cito” among colleagues and friends, Santillan was recognized for his “wealth of wisdom, dedication and tireless efforts in transforming Alsons Power into what it is today.”

Santillan will remain a member of the company’s board of directors.

Under his leadership, Alsons Power finally set in stone the launch of its inaugural renewable energy project, the 14.5-megawatt Siguil hydropower plant that is set to begin commercial operations this year.

READ:Alsons enters renewable energy sector

Santillan is also said to have played a crucial role during the group’s formative years in the 1990s as Mindanao grappled with a power crisis.

At that time, the company launched its first power generation project, then the 103-MW Northern Mindanao Power Corp., in Iligan City.

Santillan’s successor, Alcantara, has 15 years of experience within the company, according to Alsons Power.

“I am deeply grateful for Cito Santillan’s exceptional leadership, which has been instrumental in shaping Alsons Power’s trajectory over the last 30 years,” Alcantara said in a statement.

“Inspired by his commitment to excellence, I look forward to leading Alsons Power’s next chapter as we drive forward, embracing innovation and transformation with a steadfast focus on making a positive social impact,” he added.

With Alcantara expected to further drive Alsons Power forward, Santillan expressed optimism that the company would reach “new levels of success.”

“Looking ahead, I see a bright future for Alsons Power with Anton at the helm,” Santillan said. —MEG J. ADONIS

Cibo gains appetite for expansion

The Cibo Italian restaurant chain of businesswoman and Araneta clan heiress Margarita Forés is going strong even as it closes in on its 30th anniversary in a few years.

Forés, among the select industry leaders who landed on the Philippine Daily Inquirer’s Women of Power list, said Cibo continues to win the hearts and bellies of its patrons.

With that said, expansion in the Philippines is on her mind as the group reached the 26-store milestone.

READ: Cibo scales up, prepares to go global

Forés, who was named Asia’s Best Female Chef in 2016, said they recently ventured outside Metro Manila with the opening of three branches in Cebu.

The Cibo founder who made spinach dip appetizers and penne al telefono mainstays in Metro Manila’s dining culture said there was room for growth in the provinces.

She’s also not ruling out overseas locations in the Middle East and Singapore but only if the right opportunity emerges, Forés told Biz Buzz.

This finally leads to the question whether Forés, who owns Lusso by Margarita Forés and Grace Park restaurants, is ready to take her growing restaurant empire public.

It turns out there were plans to do an initial public offering many years ago but right now her focus is on building the brand some more.

“Let’s see in a few years. Let’s get it stronger first,” she said. —Miguel R. Camus