SM Investments is filling up the ninth board seat in its upcoming stockholders meeting on April 24.
The P1.2-trillion worth holding company of the Sy family has nominated Abogado Lily K. Gruba as its new independent director.
SM is currently waiting approval from the Securities and Exchange Commission to increase its number of directors from eight to nine.
Gruba is currently a director of Asia United Bank and Cosco Capital, Inc.
Gruba serves as an executive director at the Fr. Joaquin, SJ Institute for Continuing Legal Education, a professor specializing in Taxation Law, Mergers & Acquisitions, and Local Government Finance, and a bar reviewer at the Ateneo de Manila University School of Law.
She used to be a Director of the Philippine Economic Zone Authority and Overseas Workers Welfare Administration, and an Undersecretary of the Department of Finance during the Estrada administration.
She graduated from the University of Santo Tomas in 1972 with a Bachelor of Arts in Psychology and obtained her Bachelor of Laws degree from the Ateneo Law School in 1976.
She was admitted to the Bar in 1977 and later completed her Master of Laws at the Georgetown University Law Center in Washington, D.C., in 1981