He was elected as a representative to the Batasang Pambansa. Following his resignation from President Ferdinand Marcos's Kilusang Bagong Lipunan. He criticized the administration's assassination of opposition Sen. Benigno Aquino Jr. With Marcos, Paterno said technocrats had free reins to handle the economy except in cement prices, as he felt Marcos knew little in economics but had an edifice complex.[3]
President Corazon Aquino convinced him to run for senator. He served one term from 1987 to 1992. In October 1982, he founded Philippine Seven Corp. He is known for becoming the first general manager of Phinma and the first Filipino treasurer of Meralco.
Business career
Paterno started Philippine Seven Corporation in 1982. Popularly known as 7-Eleven, the convenience store has over 1,200 branches in the country.
He served as independent director for different companies such as City Resources Phil Corp., Benpres Holdings Corp., Metro Pacific Tollways Corp., Cityland Development Corp. and of First Philippine Holdings. He eventually resigned as his health failed.
Paterno won several awards – the Order of the Sacred Treasure from the Emperor of Japan, the 1982 MAP Management Man of the Year, and the 2013 Ramon V. del Rosario Award.[4]
Personal life
He is survived by his wife Baby, his children Judy, Mailin, Maite, Victor and Tina, and his eight grandchildren.
Death
Paterno died at 8:40 in the morning of November 21, 2014. He was 89 years old.[4]
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