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Corporate Governance

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Corporate Governance Report

Board Committees

Committees of the Board

The Corporation has the following Board Committees, to wit, (a) the Nomination Committee, (b) the Compensation and Remuneration Committee, (c) the Audit Committee, and (d) the Corporate Governance Committee.

Nomination Committee

The Nomination Committee is tasked with reviewing and evaluating all candidates nominated to the Board and making the appropriate recommendation to the Board in accordance with the Revised Manual on Corporate Governance (the “CG Manual.”)

Jesus G. Gallegos, Jr., Chairman
Antonio I. Panajon, Member
Fernando R. Balatbat, Member

Compensation and Remuneration Committee

The Compensation and Remuneration Committee is tasked with establishing a formal and transparent procedure for developing a policy on executive remuneration and for fixing the remuneration packages of corporate officers and directors, and providing oversight over remuneration of senior management and other key personnel to ensure that compensation is consistent with our culture, strategy, and control environment.

Roberto F. Anonas, Jr., Chairman
Jesus G. Gallegos, Jr., Member
Gerardo T. Garcia, Member

Audit Committee

The Audit Committee is tasked with oversight responsibility for the financial management systems and reporting process, reviews and approves the financial reports, and evaluates and approves internal and external audit plans.

Roberto F. Anonas, Jr., Chairman
Jesus G. Gallegos, Jr., Member
Albert S. Toribio, Member

Corporate Governance Committee

The Corporate Governance Committee is responsible for ensuring the Board’s effectiveness and due observance of corporate governance principles and guidelines.

Jesus G. Gallegos, Jr., Chairman
Roberto F. Anonas, Jr., Member
Roberto A. Atendido, Member