Frontier Oil names Salazar, Habito as independent directors
MANILA, Philippines - Local oil and gas exploration company, Frontier Oil Corp, appointed former Trade undersecretary Melito Salazar and former National Economic Development Authority director-general Cielito Habito, as independent directors to their board of directors.
This as Frontier Oil is set to conduct an initial public offering later this year.
The two former government officials join Frontier's board of directors led by chairman Astro del Castillo.
“The appointment of these two highly credentialed professionals reaffirms our commitment to ensuring financial prudence and unscrupulous corporate governance, and they represent a valuable boost to our leadership experience and expertise as we move towards listing on the Philippine Stock Exchange later this year," Frontier president and CEO Kristoffer Fellowes said in a statement.
"I look forward to working closely with both Mel and Cielito in the exciting times ahead as Frontier continues to assert itself as a vibrant and dynamic player in the Philippine oil and gas industry,” he added.
Frontier Oil is a locally-incorporated and Philippine-based oil and gas exploration and development company. It is planning to hold an IPO at the Philippine Stock Exchange later this year.