Former Finance Secretary Carlos “Sonny” G. Dominguez is taking on a major new corporate role, joining the board of property giant Megaworld Corp. as its lead independent director.
Megaworld confirmed the appointment effective September 1, 2026, bringing the veteran government official and corporate executive back into the spotlight at a time when the property developer is expanding its township, hospitality and recurring-income businesses.
The appointment was also disclosed to the Philippine Stock Exchange, which identified Dominguez as the replacement for Atty. Cresencio P. Aquino, who stepped down as independent director in anticipation of completing the maximum nine-year term for independent directors under SEC Memorandum Circular No. 7, Series of 2026.
From Finance Secretary to Megaworld boardroom
Dominguez brings more than four decades of experience across government and the private sector.
He served as Secretary of Finance from 2016 to 2022, where he led the Department of Finance during the Duterte administration and was involved in major economic and fiscal reforms.
Before becoming finance secretary, Dominguez held other senior government positions. He served as Secretary of Agriculture from 1987 to 1990 and previously headed the Department of Environment and Natural Resources from 1986 to 1987.
His corporate background is equally extensive, covering industries ranging from banking and power to aviation, agriculture, mining, hospitality, real estate and investments.
Among his previous corporate leadership roles were positions involving Philippine Airlines, BPI Agricultural Development Bank, Philippine Associated Smelting and Refining Corp., RCBC Capital Corp. and other Philippine companies.
Dominguez also currently serves as an independent director of GT Capital Holdings Inc., a position he has held since August 2023.
Why the appointment matters
Megaworld Chairman Andrew Tan welcomed Dominguez to the board, pointing to his experience in government, finance and business as an asset to the company.
Megaworld said the appointment reinforces its focus on corporate governance, independent oversight and board diversity as the company pursues its long-term expansion strategy.
The timing is notable.
Megaworld has been pushing expansion across key economic and tourism destinations in the Philippines, while also growing its hospitality portfolio and investing in developments designed to generate recurring income. The company recently announced plans to accelerate its hotel expansion, targeting nearly 12,000 rooms in the coming years.
Megaworld also raised P5.6 billion through multiple block sales of MREIT shares between April and July 2026, with the proceeds earmarked for the next phase of recurring-income developments within its townships.
Dominguez takes on key committee responsibilities
Dominguez’s role goes beyond simply holding a seat on the board.
Under Megaworld’s September 1 disclosure, he was appointed chairman of the Board Risk Oversight Committee and became a member of the Audit Committee, Corporate Governance Committee and Related Party Transaction Committee.
That gives the former finance chief a significant role in areas involving risk oversight, financial controls, governance and related-party transactions.
The board reshuffle also follows Aquino’s departure after his lengthy tenure as an independent director.
A veteran of both government and business
Dominguez’s career has crossed some of the country’s most important economic sectors.
He holds a Bachelor of Arts degree in Economics and a Master’s degree in Business Management from Ateneo de Manila University and attended Stanford University’s Executive Management Program.
He has also received major national and international distinctions, including the Order of Lakandula with the Rank of Grand Cross (Bayani) from the President of the Philippines and Japan’s Grand Cordon of the Order of the Rising Sun.
For Megaworld, his arrival adds a board member with a rare combination of economic-policy experience, corporate leadership and institutional knowledge.
And with the company continuing to expand its townships, hotels and other property assets, Dominguez’s new position could become one of the more closely watched boardroom developments in the Philippine property sector.
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