The Board of Directors discuss company matters during Board and committee meetings to address concerns and decide on appropriate courses of action. These are duly recorded in the minutes of the meetings, copies of which are kept by the Office of the Corporate Secretary and the Office of the Chairman.
The Board established six (6) committees namely, the Executive Committee, the Audit Committee, the Corporate Governance Committee, the Board Risk Oversight Committee, the Related Party Transactions Committee, and the Compensation and Remuneration Committee to support its authority in overseeing the perormance of the Company.
Summary of Board Activities for 2023
Summary of Board Activities for 2022
Board Committees and Members
Executive Committee
The Executive Committee oversees the management of the Company and is responsible for the Company’s strategies, goals, operations, finances, and policies.
Willy N. Ocier
Chairman
Armin Antonio B. Raquel Santos
Member
Exequiel P. Villacorta, Jr.
Member
To view the Executive Committee Charter, click here.
Audit Committee
The Audit Committee is empowered by the Board to ensure the quality, accuracy, and integrity of the Company’s accounting and financial reporting systems, auditing processes, and internal controls. It also monitors the Company’s adherence to corporate governance best practices.
From April 28, 2022 to April 24, 2023
Maria Gracia P. Tan (ID)
Chairperson
Roberto V. Antonio (ID)
Member
Juan Victor S. Tanjuatco (ID)
Member
Exequiel P. Villacorta, Jr. (NED)
Member
Beginning April 24, 2023
Laurito E. Serrano (ID)
Chairperson
Roberto V. Antonio (ID)
Member
Maria Gracia P. Tan (ID)
Member
Exequiel P. Villacorta, Jr. (NED)
Member
To view the Audit Committee Charter, click here.
Audit Committee 2023 Attendance
Audit Committee 2022 Attendance
To view the Attestation on the Adequacy and Effectivity of Internal Audit, Internal Control and Compliance Systems, please click here.
To view the Internal Audit Charter, click here.
Corporate Governance Committee
The Corporate Governance Committee reviews the Company’s continual process of good corporate governance, and provides the approach and advice for development. The Committee tasks the management to look into the evolving ASEAN Corporate Governance initiative from the regulators and advocacy groups to see what other enhancements can be properly pursued. The Committee also determines the nominees for election to the Corporation’s Board, which may be done by identifying through professional search firms or other similar mechanisms, recommends candidates to fill vacancies occurring between annual shareholder meetings and provides communication with the Board of Directors, shareholders and regulators.
From April 28, 2022 to April 24, 2023
Juan Victor S. Tanjuatco (ID)
Chairperson
Maria Gracia P. Tan (ID)
Member
Roberto V. Antonio (ID)
Member
Beginning April 24, 2023
Roberto V. Antonio (ID)
Chairperson
Laurito E. Serrano (ID)
Member
Maria Gracia P. Tan (ID)
Member
To view the Corporate Governance Committee Charter, click here.
Corporate Governance Committee 2023 Attendance
Corporate Governance Committee 2022 Attendance
Risk Oversight Committee
The Risk Oversight Committee is tasked to monitor and assess the risk profile of the Company as well as implement a management program for the various types of risk that the Company and its subsidiaries are exposed to in the course of its operations.
From April 28, 2022 to April 24, 2023
Roberto V. Antonio (ID)
Chairperson
Jerry C. Tiu (ID)
Member
Maria Gracia P. Tan (ID)
Member
Exequiel P. Villacorta, Jr. (NED)
Member
Beginning April 24, 2023
Maria Gracia P. Tan (ID)
Chairperson
Roberto V. Antonio (ID)
Member
Jerry C. Tiu (ID)
Member
Exequiel P. Villacorta, Jr. (NED)
Member
To view the Risk Oversight Committee Charter, click here.
Risk Oversight Committee 2023 Attendance
Risk Oversight Committee 2022 Attendance
Related Party Transactions Committee
The Related Party Transactions (RPT) Committee shall assist the Board in assessing material agreements with a related party to determine whether to approve, ratify, disapprove or reject a RPT. The Committee shall take into account whether the RPT is entered into on terms favorable to the Corporation than terms generally available to an unaffiliated third party under the same or similar circumstances.
From April 28, 2022 to April 24, 2023
Jerry C. Tiu (ID)
Chairperson
Juan Victor S. Tanjuatco (ID)
Member
Roberto V. Antonio (ID)
Member
Beginning April 24, 2023
Jerry C. Tiu (ID)
Chairperson
Roberto V. Antonio
Member
Laurito E. Serrano (ID)
Member
To view the Related Party Transactions Committee Charter, click here.
Related Party Transactions Committee 2023 Attendance
Related Party Transactions Committee 2022 Attendance
Compensation and Remuneration Committee
The Compensation and Remuneration Committee is charged with periodically reviewing policies on salaries and benefits, promotions, and other forms of career advancement within the Company. The Committee also evaluates existing human resources policies against market developments to ensure that our policies remain relevant and supportive of the growth and development of the Company’s workforce.
From April 28, 2022 to April 24, 2023
Juan Victor S. Tanjuatco (ID)
Chairperson
Armin Antonio B. Raquel Santos
Member
Jerry C. Tiu (ID)
Member
Beginning April 24, 2023
Jerry C. Tiu (ID)
Chairperson
Armin Antonio B. Raquel Santos
Member
Laurito E. Serrano (ID)
Member
To view the Compensation and Remuneration Committee Charter, click here.
Compensation and Remuneration Committee 2023 Attendance
Compensation and Remuneration Committee 2022 Attendance