Aboitiz patriarch and Equity Ventures (AEV) Inc. former chairman Jon Ramon Aboitiz passed away early Friday morning. Family members confirmed his passing the same day. He was 70.
The former AEV chairman earnestly called JRA by both colleagues and company executives served the conglomerate’s board of directors since 1994 until his retirement in December 2008.
AEV expanded rapidly across industry sectors such as food, power, banking and infrastructure and helped the country implement diverse programs such as the recent bulk water supply project in Davao City, a joint venture with J. V. Angeles Construction Corp.
Erramon Aboitiz, the current AEV chairman, succeeds the patriarch as its president and CEO.
“He is a big loss for us all,” the successor said.
Wake opens at 10 a.m. at the Heritage Memorial Park where a mass is scheduled at 3 p.m.
His body will be flown to Cebu on Monday. Burial mass will be held at the Sacred Heart Church in Cebu at 3 p.m.
The AEV conglomerate has the following units: AboitizPower, AboitizLand, Union Bank of the Philippines, Pilmico Foods Corp. and Republic Cement Group.