Former Philippine Finance chief Carlos Dominguez joins Megaworld board as lead independent director
Carlos “Sonny” G. Dominguez III, who served as Philippine Finance secretary from 2016 to 2022, has been appointed lead independent director of Megaworld Corp. His appointment comes as the property developer expands its hospitality portfolio and targets nearly 12,000 hotel rooms by 2032.
Former Philippine Finance Secretary Carlos “Sonny” G. Dominguez III has been appointed lead independent director of Megaworld Corp., the company announced on Tuesday 1 Sep 2026. Dominguez served as Finance secretary from 2016 to 2022 and previously headed the Department of Agriculture and the Department of Environment and Natural Resources in the late 1980s.
Dominguez has more than 40 years of experience spanning banking, power, aviation, agriculture, mining, hospitality, real estate and investments, Megaworld said. His private-sector roles include chairman and president of Philippine Airlines, and positions at Philippine Associated Smelting and Refining Corp., BPI Agricultural Development Bank and RCBC Capital Corp.
“We are honored to welcome Secretary Sonny Dominguez to Megaworld’s Board of Directors. Throughout his distinguished career, he has helped shape the country’s economic landscape through principled leadership in government, finance, and business,” said Megaworld Chairman Andrew L. Tan. “His depth of experience and strategic perspective will be invaluable as the company enters its next chapter of growth.”
Megaworld said Dominguez’s appointment is intended to strengthen independent oversight and corporate governance as the company pursues its long-term expansion plans in major economic and tourism areas across the Philippines. The company has created a new group, Megaworld Global Hotels and Resorts (MGHR), to consolidate its growing hotel portfolio.
MGHR will oversee two sub-groups: Megaworld Hotels & Resorts (MHR), which will manage hotel developments in Metro Manila, Boracay, Batangas and Cebu; and Megaworld Global Hospitality (MGH), which will handle Mövenpick Manila Bay Westside — described by Megaworld as its largest hotel property — as well as new hotels in Palawan and three properties in Iloilo: Courtyard by Marriott, Richmonde Hotel Iloilo and Belmont Hotel Iloilo.
Megaworld aims to expand its hotel portfolio to nearly 12,000 rooms by 2032, with new developments in tourism destinations such as Palawan and Ilocos Norte over the next five to seven years. On Tuesday, Megaworld shares rose by P0.11, or 5.02%, to P2.30.
