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BOARD COMMITTEES
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.
BOARD COMMITTEES AND MEMBERS
EXECUTIVE COMMITTEE
FROM APRIL 24, 2023 TO APRIL 22, 2024
| Willy N. Ocier | Chairman |
| Armin Antonio B. Raquel Santos | Member |
| Exequiel P. Villacorta, Jr. | Member |
STARTING APRIL 22, 2024
| Willy N. Ocier | Chairman |
| Armin Antonio B. Raquel Santos | Member |
| Gregory L. Domingo | Member |
| Jacinto C. Ng, Jr. | Member |
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 24, 2023 TO APRIL 22, 2024
| Maria Gracia P. Tan (ID) | Chairperson |
| Roberto V. Antonio (ID) | Member |
| Maria Gracia P. Tan (ID) | Member |
| Exequiel P. Villacorta, Jr. (NED) | Member |
STARTING APRIL 22, 2024
| Laurito E. Serrano (ID) | Chairperson |
| Jacinto C. Ng. Jr. | Member |
| Maria Gracia P. Tan (ID) | Member |
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 24, 2023 TO APRIL 22, 2024
| Roberto V. Antonio (ID) | Chairperson |
| Laurito E. Serrano (ID) | Member |
| Maria Gracia P. Tan (ID) | Member |
STARTING APRIL 22, 2024
| Paquito N. Ochoa, Jr. (ID) | Chairperson |
| Laurito E. Serrano (ID) | Member |
| Maria Gracia P. Tan (ID) | Member |
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 24, 2023 TO APRIL 22, 2024
| Roberto V. Antonio (ID) | Chairperson |
| Maria Gracia P. Tan (ID) | Member |
| Jerry C. Tiu (ID) | Member |
| Exequiel P. Villacorta, Jr. | Member |
STARTING APRIL 22, 2024
| Maria Gracia P. Tan (ID) | Chairperson |
| Gregory L. Domingo | Member |
| Laurito E. Serrano (ID) | Member |
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 24, 2023 TO APRIL 22, 2024
| Jerry C. Tiu (ID) | Chairperson |
| Roberto V. Antonio (ID) | Member |
| Laurito E. Serrano (ID) | Member |
STARTING APRIL 22, 2024
| Paquito N. Ochoa, Jr. (ID) | Chairpeson |
| Laurito E. Serrano (ID) | Member |
| Maria Gracia P. Tan (ID) | Member |
COMPENSATION AND RENUMERATION 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 24, 2023 TO APRIL 22, 2024
| Jerry C. Tiu (ID) | Chairperson |
| Armin Antonio B. Raquel Santos | Member |
| Laurito E. Serrano (ID) | Member |
STARTING APRIL 22, 2024
| Willy N. Ocier | Chairperson |
| Armin Antonio B. Raquel Santos | Member |
| Jacinto C. Ng, Jr. | Member |
OTHER BOARD MATTERS
WILLY N. OCIER
| Age: | 67 years old |
| Designation: | Chairman, Executive Director Chairman, Executive Committee |
| Date of 1st Election: | June, 1999 |
| No. of Years in the Board: | 23 years |
Professional and Educational Background:
Mr. Willy Ocier, 67, is an Executive Director and Chairman of Premium Leisure Corp. He is also the Chairman and Director of Belle Corporation, APC Group, Inc., Pacific Online Systems Corporation, Total Gaming and Technologies, Inc. and PremiumLeisure and Amusement, Inc. and Vice Chairman of Highlands Prime, Inc. He is the Chairman and Director of Tagaytay Midlands Golf Club, Inc., and one of the Directors of The Country Club at the Tagaytay Highlands, Inc. Mr. Ocier is also the Chairman, President, and Chief Executive Officer of Philippine Global Communications, Inc., He is a Director of Leisure and Resorts World Corporation. He also sits as a Director to the following unaffiliated corporations, IVantage Equities, Philequity Management, Inc., Abacore Capital Holdings, Inc. and Toyota Corporation Batangas. He was formerly President and Chief Operating Officer of Eastern Securities Development Corporation.
Mr. Ocier graduated from Ateneo de Manila University with a Bachelor of Arts degree in Economics. In recognition of Mr. Ocier’s corporate leadership and role in providing employment opportunities to Filipinos, the University of Batangas conferred him a degree in Doctor of Humanities, honoris causa.
Directorship in Other Publicly Listed Companies:
- Belle Corporation – Executive Director (Chairman)
- Pacific Online Systems Corporation - Chairman of the Board and Chairperson, Executive Committee
- APC Group, Inc. - Director (Chairman)
- Leisure & Resorts World Corp. - Director (Non-Executive)
- Abacore Capital Holdings, Inc., - Director (Non-Executive)
- Vantage Equities Inc., - Director (Non-Executive)
ARMIN ANTIONIO B. RAQUEL SANTOS
| Age: | 56 years old |
| Designation: | Executive Director President and Chief Executive Officer |
| Date of 1st Election: | July, 2017 |
| No. of Years in the Board: | 6 years |
Professional and Educational Background
Mr. Raquel Santos, 56, Filipino, is the Executive Director and the President and Chief Executive Officer of Premium Leisure Corp. (PLC) as well as its subsidiary, PremiumLeisure and Amusement, Inc., He is also the President and Chief Executive Officer of Belle Corporation and Pacific Online Systems Corporation. He is also a Director of APC Group, Inc., Pinoy Lotto Technologies Corporation, Sagittarius Mines, Inc., Tagaytay Highlands International Golf Club, Inc., Manila Golf and Country Club and member of the Board of Trustees of Melco Resorts (Philippines) Foundation Corporation.
Formerly, he was Chief Finance Officer of Aboitizland, Inc., Cebu Industrial Park, Inc. and Mactan Economic Zone II and First Philippine Electric Company. He was also former Governor of the Board of Investments (BOI), served as Assistant Secretary with the Department of Trade and Industry (DTI), Vice Chairman and CEO of Philippine Retirement Authority (PRA), Executive Vice President of Philippine International Trading Corporation (PITC), and Deputy Administrator of Subic Bay Metropolitan Authority (SBMA). His experience includes stints with multinational companies; Securities 2000 Inc. (Singapore Technologies Group) and First Chicago Trust Company of New York.
Mr. Raquel Santos holds a Master of Arts in Liberal Studies from Dartmouth College, U.S.A. and Bachelor of Science in Business Administration Major in Finance from Iona College, U.S.A.
Directorship in Other Publicly Listed Companies
- Belle Corporation – Executive Director | President and Chief Executive Officer
- PremiumLeisure and Amusement, Inc. – Executive Director | President and Chief Executive Officer
- Pacific Online Systems Corp. - Executive Director | President and Chief Executive Officer
EXEQUIEL P. VILLACORTA JR.
| Age: | 77 years old |
| Designation: | Non-Executive Director Member, Audit Committee Executive Committee and Risk Oversight Committee |
| Date of 1st Election: | July, 2014 |
| No. of Years in the Board: | No Info |
Professional and Educational Background
Mr. Villacorta, 77, Filipino, is a Non-Executive Director of Premium Leisure Corp. Prior to this position, he was a Director of Equitable PCI Bank, EBC Insurance Brokerage, and Maxicare Healthcare Corporation. He was the former Chairman of EBC Strategic Holdings Corporation, EBC Investments (now BDO Strategic Holdings), Jardine Equitable Finance Corporation, Strategic Property Holdings, PCIB Properties, Equitable Data Center, and PCI Automation Center. He was a past President and CEO of Banco De Oro Universal Bank and TA Bank of the Philippines, and was Vice President of the Private Development Corporation of the Philippines. He was Senior Adviser and BSP Controller of Equitable PCI Bank and PBCom, and Adviser to the Board of PCI Capital Corporation. Mr. Villacorta holds a Bachelor of Science degree in Business Administration from De La Salle University and a Master’s degree in Business Management from the Asian Institute of Management.
Directorship in Other Publicly Listed Companies
None
ROBERTO V. ANTONIO
| Age: | 60 years old |
| Designation: | Independent Director |
| Date of 1st Election: | August, 2022 |
| No. of Years in the Board: | 1 year |
Professional and Educational Background:
Mr. Antonio, 60, is an independent director of the Company. He is also an independent director of Pacific Online Systems Corporation and the Development Bank of the Philippines. He is currently the President of Kalimera, Inc., RVA and Sons, Inc., RVA International Trading Corporation, and La Salle Greenhills Foundation. He is also the Vice Chairman of Right Eight Security Agency, Inc. He also serves as a Consultant for Mustang Holdings, Inc. and Board Member of the La Salle Greenhills Alumni. Mr. Antonio served as one of the Department of Tourism’s Undersecretaries from 1998-2000 and Senior Consultant from 2004-2010.
He graduated from De La Salle University with a degree in Economics major in Marketing Management in 1984. Candidate of Juris Doctor at the Ateneo De Manila University Law School in 1989. He finished his Master’s in Business Economics at the University of Asia and the Pacific in 1997.
Directorship in Other Publicly Listed Companies:
Pacific Online Systems Corporation - Independent Director
ATTY. MA. GRACIA M. PULIDO-TAN
| Age: | 68 years old |
| Designation: | Lead Independent Director |
| Date of 1st Election: | June, 2021 |
| No. of Years in the Board: | 2 years |
Professional and Educational Background:
Atty. Tan, 68, Filipino, is an independent director of the Company. She is likewise an independent director of Belle Corporation and Pacific Online Systems Corporation. She is the former Chairperson of the Commission on Audit, Undersecretary of Finance and Commissioner of the Presidential Commission on Good Government. She is currently a Trustee of the International Budget Partnership, an international NGO based in Washington DC, USA. She is also a member of the Tax Faculty of the Philippine Judicial Academy. She is a director of several Philippine corporations, a tax consultant and legal adviser of some private clients, and an accredited Arbitrator of the Construction Industry Arbitration Commission, Philippines and Philippine Dispute Resolution Center, Inc, Philippines.
Atty. Tan served as Chairman of the United Nations Independent Audit Advisory Committee, the first Filipino to have been elected to this 5-member Committee. She is also a professor at the University of the Philippines for Mandatory Continuing Legal Education.
Backed by four decades of professional work in the Philippines and abroad as a private law and accounting practitioner, government official, arbitrator and international consultant. She is an expert in the fields of legal, finance, audit, governance, dispute resolution and administration.
She graduated from the University of the Philippines in 1977 with a degree in Bachelor of Science in Business Administration and Accountancy and in 1981 with Bachelor of Laws. In 1987, she obtained her Master of Laws (Tax) from the New York University. She is a Certified Public Accountant.
Directorship in Other Publicly Listed Companies:
- Belle Corporation – Independent Director
- Pacific Online Systems Corporation - Independent Director
JERRY C. TIU
| Age: | 65 years old |
| Designation: | Independent Director Chairman, Related Party Transactions Committee Member, Compensation and Remuneration Committee and Risk Oversight Committee |
| Date of 1st Election: | June 2021 |
| No. of Years in the Board: | 1 year |
Professional and Educational Background
Mr. Tiu, 65, Filipino, is an independent director of Premium Leisure Corp. He is likewise an independent director of APC Group, Inc. He is a director and the President of Tagaytay Highlands Community Condominium Association, Inc., Tagaytay Midlands Community Homeowners’ Association, Inc., and Greenlands Community Homeowners’ Association, Inc. He is also the President of the following companies: Tagaytay Highlands International Golf Club, Inc., The Country Club at Tagaytay Highlands, Inc., Tagaytay Midlands Golf Club, Inc., and The Spa & Lodge at Tagaytay Highlands, Inc. He is a former Director of the Manila Polo Club.
Mr. Tiu holds a Bachelor of Science degree in Commerce (Major in Marketing) from the University of British Columbia.
Directorship in Other Publicly Listed Companies
- APC Group, Inc. - Independent Director
LAURITO E. SERRANO
| Age: | 63 years old |
| Designation: | Independent Director Member, Corporate Governance Committee Member, Related Party Transactions Committee and Compensation and Remuneration Committee |
| Date of 1st Election: | April, 2023 |
| No. of Years in the Board: | 1 year |
Professional and Educational Background:
Mr. Serrano, 63, Filipino, is an Independent Director of the Company.He concurrently serves as Independent Director of Rizal Commercial Banking Corporation, Axelum Resources Corp., and Anglo-Philippine Holdings, Inc. He is also a director in privately-held MRT Development Corporation. As independent director in listed entities, Mr. Serrano serves as chairman or member of such companies’ audit, compliance, and risk committees. Mr. Serrano is a former partner of the Corporate Finance Consulting Group of SGV & Co.
He is a Philippine Certified Public Accountant and has a Master’s degree in Business Administration from the Harvard Graduate School of Business. His area of specialization is Financial Advisory and Corporate Finance in a broad range of clients and industry sectors.
Directorship in Other Publicly Listed Companies:
- Pacific Online Systems Corporation - Independent Director
- Rizal Commercial Banking Corporation. – Independent Director
- 2Go Group, Inc. – Independent Director
- Axelum Resources Corp. – Independent Director
- Anglo Philippine Holdings Corporation - Independent Director
JUAN VICTOR S. TANJUATCO
| Age: | 74 years old |
| Designation: | Independent Director (until April 24, 2023) Chairman, Corporate Governance Committee and Compensation and Remuneration Committee Member, Audit Committee and Related Party Transactions Committee |
| Date of 1st Election: | July, 2014 |
| No. of Years in the Board: | 9 years |
Professional and Educational Background
Mr. Tanjuatco, 74, Filipino, is an independent director of Premium Leisure Corp. and MEDCO Holdings, Inc. He is also a director of IP Ventures, Inc., and Ketmar Fast Food Corporation. Previously, he served in the same capacity on the board of Insular Savings Bank and Asiatrust Development Bank. A career banker, he was the former President of Export and Industry Bank and was assigned to various managerial and executive positions at Credit Agricole Indosuez Manila, New Zealand and Hongkong, where, after 21 years, he retired as Deputy General Manager in Manila.
Mr. Tanjuatco holds a Bachelor of Arts Degree in Economics from the Ateneio de Manila University (cum laude) and a Masters in Business Administration, major in Finance, from the Wharton School, University of Pennsylvania.
Directorship in Other Publicly Listed Companies
- MEDCO Holdings, Inc. - Independent Director
- IP Ventures, Inc. - Independent Director
- Ketmar Fast Food Corporation - Independent Director