Vargas: from corporate job to running Philippine sports
Mark Escarlote on Feb 23, 2018 05:32 PM
Who is Ricky Vargas?
Victorico 'Ricky' Vargas just knocked long-time Philippine Olympic Committee president Jose ‘Peping’ Cojuangco off his post in a re-election held at Wack Wack Golf and Country Club.
Vargas may not be a former athlete or a politician but his track record in managing large companies and immersion as governor of Talk ‘N Text and as PBA chairman could be his advantage in helping lift the state of Philippine sports, which has been on a rapid decline.
On Friday, Vargas was given the task by 24 representatives from various National Sports Associations that voted for him during the re-election.
Vargas is the president of the Association of Boxing Alliance of the Philippines and a trusted man of businessman Manny Pangilinan. The 65-year old Vargas, who will celebrate his birthday on Feb. 24, is a University of Santo Tomas graduate with a Bachelor of Science Degree in Psychology.
He has decades of experience in various industries which includes banking and finance, real estate and telecommunications.
Vargas joined Philippine Long Distance Telephone Company in 2000 and served as its senior vice president and head of its human resources for 10 years. He was the chief executive officer and president of Maynilad Water Services, Inc. for five years.
He has been the assistant director of First Pacific Company Limited since February 2016.
With the MVP Group pouring its support to various sports, Vargas was elected president of ABAP in 2008 that ended Manny Lopez’s 12-year term in the position. He was the vice-president of Samahang Basketbol ng Pilipinas when he was elected as boxing chief.
Vargas challenged Cojuangco during the 2016 POC election but was disqualified for alleged failure to meet the qualifications of being active members of the POC general assembly.
But Vargas’ camp was favored by the Pasig Regional Trial Court in their election case filed December last year. The court ordered a re-election and Vargas was allowed to run.
He tallied 24 votes compared to Cojuangco’s 15, effectively ending the 13-year reign of the former Tarlac representative as head of the POC.
Vargas’ ally cycling president Abraham ‘Bambol’ Tolentino won as POC chairman, beating table tennis head Ting Ledesma, 23-15.