Business magnate, kingmaker Danding Cojuangco dies at 85
Business magnate and political kingmaker Eduardo “Danding” M. Cojuangco Jr. passed away on Tuesday at the age of 85.
Cojuangco, San Miguel Corporation’s Chairman and Chief Executive Officer
died of pneumonia and heart failure before 11 p.m. on Tuesday at the St. Luke’s Medical Center.
Cojuangco or ECJ as he is known to executives and employees in his business empire, was last seen chairing the annual stockholders’ meeting of SMC oil subsidiary Petron Corporation on June 2.
Known as “Boss Danding” to many of the country’s political figures, he founded the political party Nationalist People’s Coalition (NPC) in 1992, and ran against Fidel V. Ramos in the presidential race in the same year.
Prior to running for president, Cojuangco served as Governor of Tarlac City from 1967-1969, and became Tarlac’s 1st District Representative from 1969 to 1972.
He just turned 85 on June 10. The Philippine Basketball Association (PBA) in a tweet, paid tribute to Cojuangco, who owns three teams in the league, namely: San Miguel Beermen, Barangay Ginebra San Miguel, and Magnolia Hotshots.
“Chairman and CEO of San Miguel Corp., politician, diplomat, businessman, team owner, sports patron... Thank you for your countless contribution to the PBA and sports!” the association tweeted.
“Our prayers and condolences to his family and loved ones. Requiescat in pace!” the PBA added.
Cojuangco also held positions in Ginebra San Miguel, Inc. as Chief Executive Officer, and in Petron Corporation as Chairman of the Board.
Cojuangco also owns “private cement-manufacturing business and invested in orchards, stud farms, and wineries in Australia,” according to Forbes.
In 2019, Forbes named Cojuangco as the 16th richest man in the Philippines with a net worth of $1.4 billion.
Palace saddened
Malacañang expressed sadness over the passing of Cojuangco and paid tribute to him for his “immense contribution” to the country’s job generation and socioeconomic development.
“We are deeply saddened by the passing of Mr. Eduardo “Danding” Cojuangco Jr., at the age of 85,” presidential spokesman Harry Roque said.
“Mr. Cojuangco, through his San Miguel Corporation (SMC), where he served as its Chairman of the Board and Chief Executive Officer (CEO), had immense contribution to the socioeconomic development of the Philippines through the company’s operations in food, beverages, energy, power, oil refining, and infrastructure,” he said.
He said San Miguel Corp. under the helm of Cojuangco has also provided livelihood opportunities to thousands of Filipinos.
The company has also been a reliable partner of the government in mitigating the impact of the coronavirus pandemic through its support for frontliners and vulnerable sectors, according to Roque.
“The Palace offers its fervent prayers for the eternal repose of the soul of Mr. Cojuangco as we convey our heartfelt condolences to his family, colleagues, friends, and loved ones,” he said.
NPC member in mourning
Nationalist People’s Coalition (NPC) senators and members mourned on Wednesday the passing of their patron.
“I join the nation in mourning the passing of a titan in Philippine business and politics,” Senate President Vicente Sotto III said in a statement on Wednesday.
“The passing of our NPC chairman, Eduardo ‘Danding’ Cojuangco Jr., leaves a big hole in our hearts,” he added.
Sotto paid tribute to Cojuangco, who, he said, “lived an extraordinary life, a successful man who wore many hats as he made waves in the business sector and splashes in public service.”
“The vast ocean of entrepreneurship and political leadership will never drift as suavely and smoothly without his engaging presence,” he added.
Sotto, a senior leader of the NPC, said the legacy and vision of their “big boss” will continue.
“The Sotto clan mourns the loss of a mentor and beloved friend. Salamat sa lahat lahat, Boss Danding,” he said.
Sen. Sherwin Gatchalian, also an NPC member, said he was saddened by the passing of Cojuangco, who, he
said, served as his mentor when he was starting as a public servant.
“His passing leaves us with a sad void. He was considered to be one of the country’s most successful industrialists,” he said.
“I have been with the NPC since the start of my political career and I witnessed how he has shaped, over decades, the ideals and objectives of the party that centered on love for country. He treated us like family and I will remain grateful for his support,” Gatchalian added.
Former senator and Sorsogon Governor Francis “Chiz” Escudero also extended his sympathy to Cojuangco’s loved ones.
“My sincerest condolences to the family and loved ones of Boss Danding. My prayers go out to ECJ and to all of you during this time of sorrow,” Escudero posted on Twitter.
Senator Grace Poe, who was considered as an NPC “honorary member,” also honored Cojuangco.
“Mr. Danding Cojuangco always looked for ways to empower communities.He opened up opportunities for pervasive success as he believed deeply in the capabilities of Filipinos,” Poe said.
“We are saddened by his passing, but we celebrate a legacy, too, of the man behind iconic Filipino brands, who, in so many ways, gave his share to make our country better,” she added.
Ex-senator JV Ejercito also grieved the business tycoon’s death.
“Woke up to very sad news earlier. My Ninong Danding Cojuangco passed away. He is a very nice person with a kind heart. [He was] Super nice to me. He will be missed,” he tweeted.
More tribute
Senate President Pro Tempore Ralph Recto credited the San Miguel Corporation (SMC) chairman and chief executive officer for the company’s contribution to communities amid the COVID-19 pandemic.
“SMC’s decision to give more than ₱1 billion in the national pandemic fight, in ways longer than its product catalogue, was the corporate implementation of Danding’s philosophy to help the needy,” Recto said in a statement.
“It was this trademark of giving which drove SMC to donate gas to frontliners; to let aid trucks travel on its tollways for free; to stock commu
nity kitchens with chicken, meat products, flour; to equip hospitals with testing machines and ventilators; to flood clinics with disinfectant and alcohol; to dispatch its planes all over Asia in search of supplies; and to keep its payroll intact despite the plunge in sales,” he added.
“When profits give way to service during a national crisis, we know who was responsible for SMC passing its corporate citizenship test,” Recto said.
Senate Majority Leader Juan Miguel Zubiri called Cojuangco a “force of nature,” saying his passing was a “huge, huge loss to the world of business, to the world of politics, even to the world of sports.”
“He has done so much. In the political arena, of course, but especially in business. He took San Miguel to such great heights, and opened up employment opportunities to tens of thousands of Filipinos across the nation,” Zubiri said.
“His success with San Miguel has pervaded even our cultural landscape, extending into to the world of sports – I can hardly imagine what the PBA would be like without his support,” he added.
Senator Joel Villanueva also joined his colleagues in mourning Cojuangco’s death.
“[A] visionary, industrialist, and a patron of sports,” Villanueva said of Cojuangco.
“As founder and chair of the Nationalist People’s Coalition, Ambassador Cojuangco pursued his vision for a better Philippines
through public service, a challenge that remains in the hearts and minds of its members,” Villanueva said.
“While his demise leaves a void, his legacy will live on through the NPC and the dozens of organizations he formed in his lifetime,” he continued.
In a tweet, senator and Samahang Basketbol ng Pilipinas chair Sonny Angara also praised Cojuangco as “a kind man.”
“His forays into business and politics are of public record. He was also famous for championing Philippine sports and a sportsman who built championship teams. But what will never be publicly known were his charitable acts, unsolicited, done sans fanfare, and many anonymously,” Angara said in statement later.
“He was a practitioner of retail altruism and direct assistance to the down and out. The financials of his companies are meticulously recorded, but he kept no accounting of the help he extended to the needy, especially from the provinces close to his heart. These were sick people hospitalized, bright young people sent to college, OFWs in distress helped, small businessmen extended loans, and many more,” he added.
Senator Nancy Binay also offered her prayers to Cojuangco’s family. (With a report from Mario B. Casayuran)