Global Ferronickel Holdings, Inc. (FNI) has announced leadership changes as its Chairman Joseph C. Sy takes a voluntary leave of absence, days after the Philippine Nickel Industry Association (PNIA) and the Chamber of Mines of the Philippines (COMP) publicly backed him and called for his release from detention.
Sy, also known as Chen Zhong Zhen, was arrested by the Bureau of Immigration (BI) on August 21 at Ninoy Aquino International Airport over alleged misrepresentation in acquiring Philippine documents. He is currently being held at Camp Bagong Diwa in Taguig City while facing deportation proceedings.
FNI’s Board of Directors said Sy’s leave, approved on August 27, allows him to “focus on resolving his personal legal matters while safeguarding the best interests of the Company and its stakeholders.”
To ensure continuity, the Board elected President Dante R. Bravo as Chairman, placing him in a dual role subject to annual review. It also created the new position of Vice Chairman to strengthen governance, appointing Lead Independent Director Jaime F. Del Rosario to the post.
“These measures underscore FNI’s commitment to stability, transparency, and strong corporate governance,” the company said.
PNIA stressed that Sy is a Filipino citizen, recognized twice before by the BI, and described his detention as “deeply troubling and legally inconsistent.” The group warned the incident could damage investor confidence in the country’s mining sector, Manila Bulletin reports.
“It is therefore deeply troubling and legally inconsistent that the BI, which twice recognized his citizenship, is now the very source of his illegal arrest and unlawful detention,” PNIA said.
COMP also called for Sy’s release, pointing to his long-standing advocacy for responsible mineral development. “His detention sends a chilling signal to the business and investment community, undermining government efforts to position the country as a reliable global supplier of critical minerals,” it said.
Amid the controversy, FNI said its leadership transition is designed to preserve stability and sustain operations as the company executes its business strategy.
How do you see Sy’s detention and FNI’s leadership shift affecting investor confidence in Philippine mining? Join the conversation.
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