D&L appoints former Ayala exec as new director
Dean Lao’s D&L Industries Inc. has elected Merceditas S. Nolledo as an independent director replacing the late Amb. Cesar Bautista.
D&L, a listed company that custom makes products for the food, plastics, and aerosol industries, is the parent firm of Oleo Fats Inc., the leading manufacturer of industrial fats and oil and other food ingredients.
In a disclosure to the stock exchange, D&L said Nolledo was elected as an independent director effective April 4, 2016 who will sit in the company’s audit and remuneration committees.
Nolledo is chairman of BPI Investment Management Inc. and a director of Xurpas Inc., a listed technology company.
She is also in the board of trustees of Ayala Foundation and BPI Foundation. She is also in the board of directors of Ayala Automotive Holdings Corp., Ayala Land Commercial REIT Inc., Anvaya Cove Beach and Nature Club, Isuzu Automotive Dealership Inc., and Honda Cars Makati Inc. among others.
Nolledo holds a Bachelor of Science in Business Administration (Magna Cum Laude) and Bachelor of Laws (Cum Laude) from the University of the Philippines.
D&L reported a 12-percent jump in net income to P2.28 billion last year on the back of a one-time gain from the sale of a property that made up for the decline in its revenues. (Eileen A. Mencias)