A Brown Company, Inc. announced the resignation of Mr. Renato N. Migriño as director and Treasurer. Mr. Migriño tendered his resignation to be able to focus in other companies where he is currently affiliated. As recommended by the nomination committee, Mr. Joselito H. Sibayan was elected as new member of the board.

The board likewise elected Mr. Sibayan as the Treasurer of the Corporation vice Mr. Migrino. Mr. Sibayan is currently the president and CEO of Mabuhay Capital. Prior to forming Mabuhay Capital.

He was vice chairman, Investment Banking-Philippines, and Philippine Country Manager for Credit Suisse First Boston (CSFB). Mr. Sibayan has spent 30 years in investment banking, with experience spanning Securities Sales and Trading, Capital-Raising, and Mergers & Acquisitions Advisory. His clients included virtually all of the CEOs, CFOs and Treasurers of major Philippine Companies and Government Agencies as well as international firms investing or divesting assets in the country.

He was advisor to PLDT, ABS-CBN, and Meralco on their liability management programs, to Deutsche Telecomm on the sale of its stake in Globe, to Insular Life on its demutualization plans, to Benpres on its Debt Restructuring and to a number of banks and corporates on their funding programs and strategic initiatives. The designation of Mr. Robertino E. Pizarro as executive chairman was changed to chairman. The designation of Mr. Roel Z. Castro as president was changed to President and chief executive officer.

The management changes effective from March 28, 2017.