nextbet188 @ spain53 one777 apk James Lorenzana is new chairman of Ferronoux Holdings

James Lorenzana, president of the Okada Foundation, will take over as chairman of Ferronoux Holdings Inc. after the resignation of Michael C. Cosiquien, who was also the company’s president.

Lawyer Abel M. Almario was named as president, while Johannes R. Bernabe was appointed as CFO and treasurer to replace Erwin Terrell Y. Sy.

Fiorello Raymundo Jose was also elected director to replace Michelle Joan G. Tan, who resigned from the company.

The management shakeup was done after ISOC Holdings Inc., a company owned by Cosiquien and a majority holder of Ferronoux, sold its 133.53 million shares to Themis Group Corp. for P2.2242 per share or P297 million.

Themis is required to conduct a mandatory tender offer for the shares it does not own.

ISOC currently holds 51 percent of Ferronoux of 261.82 million common shares.