Philippine Airlines (PAL) has undergone a major board shake-up, with six directors including the carrier's president Jaime Bautista and treasurer Domingo Chua stepping down.
They were replaced by people associated with San Miguel Corp (SMC), according to a Philippine Stock Exchange filing.
Earlier this month, SMC confirmed that it bought a 49% stake from Filipino businessman Lucio Tan in the parent companies of PAL and low-cost carrier AirPhil Express for $500 million.
The change sees Ramon Ang appointed as president and chief operating officer, Harry Tan as treasurer and Daniel Ang as chief financial officer.
According to Philippine media reports, SMC now controls five of the 11 seats on the PAL board.
On 18 April, industry sources told Flightglobal Pro that the leadership team of Airphil Express stepped down, with four senior executives departing for rival Zest Air.