Roberto A. Umali has retired as president of domestic carrier Lorenzo Shipping Corporation (LSC), replaced by Doris Magsaysay-Ho.
In a disclosure to the Philippine Stock Exchange, LSC said Umali on August 8 retired as president of the company but will continue to serve as a director.
The board of directors of LSC elected Magsaysay-Ho as president, and she will be serving the remainder of Umali’s term.
The retirement of Umali “was not due to any disagreement with the management of LSC on any matter relating to LSC’s operations, policies or practices,” the company stated.
Umali was formally appointed as president and director of LSC on March 6, 2008 after being the company’s officer-in-charge since May 2007. At present, Umali is the CEO of the Magsaysay Transport and Logistics Group (MTLG), as well as president of the NMC Group (National Marine Corp.; NMC Container Lines, Inc.; Islas Tankers Shipping Corp.; Batangas Bay Carriers, Inc, Marine Fuels Philippines, Inc.; RoadLink Solutions, Inc.; and OneStop Logistics Solutions, Inc.) and Magsaysay Lines, Inc. (Magsaysay Shipmanagement, Inc.; Magsaysay Marine Services, Inc.; Filipinas Maritime Transport Corp.; and Sun Cruises, Inc.). At the same time, he is a director and a member of the executive committee of various companies in the Magsaysay Group of Companies (MGC), and chairman of Asiaport Equipment and Logistics Corp.
Ho, meanwhile, is the president and chief executive officer of both MGC and its shipping arm, MTLG. She is also the chairperson of the LSC board and president and chairman of Magsaysay Inc. Moreover, Ho serves as the president and CEO of Magsaysay Mitsui Q.S.K. Marine, Inc., and the president of Magsaysay Lines, Inc., National Marine Corp., and National Marine Corporation Container Lines, Inc.
LSC owns a fleet of seven cargo vessels ranging in capacity from 200 twenty-foot equivalent units to 426 TEUs and deployed at key ports across the country. It also transports rolling cargoes such as heavy equipment, trucks, and vehicles, as well as uncontainerized cargoes such as steel products and bridging materials. Moving livestock cargoes carried in special vans is also a part of its transport services.
