RENATO B. Magadia, chairman of listed firms Waterfront Philippines, Inc., Metro Alliance Holdings & Equities Corp. (MAHEC), Acesite (Phils.) Hotel Corp. and director of Philippine Estates Corp., had passed away at the age of 82.
The companies announced his death in separate disclosures to the stock exchange on Monday. No new appointments have been made to replace him in his vacated positions.
Waterfront Philippines Independent Director Sergio R. Ortiz-Luis, Jr. told BusinessWorld Mr. Magadia has been “in and out of the hospital for a month” until his passing.
Mr. Magadia held positions in various companies until his death. In the Gatchalian-led Waterfront Philippines, Mr. Magadia has been a member of the board of directors since April 1999.
In MAHEC, Mr. Magadia was chairman of the board since 1999 and served as its president starting 2001.
He was elected vice-chairman of Acesite Phils. in June 2004 and led the risk management committee of the company as its chairman.
Aside from positions in listed firms, Mr. Magadia was also chairman of ZetaMark, Inc. and Mabuhay Vinyl Corp. In his earlier years, he led pharmaceutical firm Zuellig Corp. and held board memberships in various gaming, lodging and restaurant companies.
Mr. Magadia is a certified public accountant who earned his degree in Business Administration major in Accounting from the University of the Philippines Diliman. — Denise A. Valdez
