Lorenzo Shipping Corporation Holds Annual Stockholders’ Meeting

Lorenzo Shipping Corporation (LSC), held its Annual Stockholders’ Meeting last Friday, June 25th – the second time the publicly listed company held the meeting virtually (online, via remote communication) in light of the COVID-19 global pandemic and in support of measures to prevent its spread.

Led by Doris Magsaysay Ho, Chairperson of LSC, with Reynold John Madamba, President of LSC, the meeting highlighted the presentation of the company’s Management Report and the approval of its Audited Financial Statements for 2020 as well as the nomination of directors and appointment of external auditor for 2021.

“Lorenzo Shipping Corporation had to shift gears to adapt to the new challenge at hand. On top of the strategies that focused on recovery, we also had to map out a game plan for resiliency,” shared by the LSC President in his management report.

“In addition to its Board of Directors, key stockholders and proxies representing them, the meeting was attended by Magsaysay Shipping and Logistics’ Jesse Maxwell, Chief Executive Officer; and LSC’s Amelita Intalan, Chief Finance Officer; Jay Olivares, Chief Compliance Officer; Atty. Christine Villegas, Corporate Secretary; and Atty. Ruby Reyes, Assistant Corporate Secretary.

Elected as Directors for this year’s Board are: Doris Magsaysay Ho, Antony Marden, RJ Madamba, and Michael Escaler and Independent Directors Deogracias Vistan, Rene Buenaventura, and Virgilio Peña. The auditing firm SyCip Gorres Velayo & Co. was nominated as external auditor.

After the Annual Stockholder’s Meeting, the newly elected Board of Directors conducted their first Board meeting.