Roberto Umali has tendered his resignation as a director of Philippine domestic carrier Lorenzo Shipping Corp. (LSC) effective immediately.
In a disclosure to the Philippine Stock Exchange (PSE) on August 2, LSC said the resignation 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 busy professional schedule of Mr. Umali hinders his participation in the Board of Directors and Committee Meetings,” the company said.
Umali retired as president of the company last year and was replaced by Doris Magsaysay-Ho, but he continued to serve as a director until his resignation.
He had been with LSC for 10 years. He was appointed president and director of LSC on March 6, 2008 after being the company’s officer-in-charge since May 2007.
Umali has served as group head of the Magsaysay Transport and Logistics Group, as well as president of the NMC Group (composed of 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.; and Sun Cruises, Inc.).
He has also served as director and member of the executive committee of various companies in the Magsaysay Group of Companies, and chairman of Asiaport Equipment and Logistics Corp.
Currently, he is still director for Filipinas Maritime Transport Corporation under the NMC Group.
