PREMIUM Leisure Corp. (PLC), the gaming vehicle of tycoon Henry Sy, announced on Friday the appointment of Armin Raquel-Santos as its new president and chief executive officer (CEO) effective July 1, 2017.
The PLC Board of Directors approved Raquel-Santos’ appointment, who will be replacing Frederic DyBuncio following the latter’s resignation during the company’s board meeting.
DyBuncio also resigned as a director and member of the Executive Committee. He will be moving to his new post as an adviser to the Board.
Raquel-Santos served as the executive vice president of PLC’s subsidiary Premium Leisure and Amusement, Inc. (PLAI) and executive vice president of Integrated Resorts of Belle Corp. since July 3, 2013.
Earlier, he had also served as chief financial officer of Aboitizland, Inc., Cebu Industrial Park, Inc., Mactan Economic Zone II and First Philippine Electric Company.
Raquel-Santos obtained a masters degree in Liberal Studies in Dartmouth College in New Hampshire and Bachelor of Business Administration in Finance from Iona College, New York.
Meanwhile, DyBuncio has served as president, chief executive officer and director of PLC, Belle Corp., and APC Group, Inc.
Prior to holding several posts under the SM Group, DyBuncio had been a career banker who spent over 20 years with JP Morgan Chase and its predecessor institutions.
He graduated from Ateneo de Manila University with a Bachelor of Science degree in Business Management. He obtained a Master’s degree in Business Administration program at the Asian Institute of Management.
Formerly a mining firm known as Sinophil Corp., PLC is a gaming-focused investment vehicle of the SM Group, owning 100 percent of PLAI and 50.7 percent interest in LOTO.