The Board has a pre-determined schedule of the meetings at the beginning of the calendar year. Discussions during meetings are open, and independent views are given due consideration. As necessary, the Board likewise holds meetings through electronic medium or telecommunications.A separate meeting of non-executive directors without the presence of the CEO or any of the executive officers is held at least once a year. A separate meeting without the presence of CEO and other executive officer was held on 27 April 2016.
Attendance of each Director in 2016:
|Manuel V. Pangilinan||7/8||88%|
|Juan B. Santos (resigned effective 10/26/2016)||7/7||100%|
|Marilyn V. Aquino||8/8||100%|
|Eulalio B. Austin, Jr.||8/8||100%|
|Bienvenido E. Laguesma (resigned effective 12/31/16)||7/8||88%|
|Robert C. Nicholson||8/8||100%|
|Edward A. Tortorici||6/8||75%|
|Barbara Anne C. Migallos||8/8||100%|
|Oscar J. Hilado||8/8||100%|
|Wilfredo A. Paras||8/8||100%|
|Michael Alimurung resigned (effective 11/23/16)||8/8||100%|
On yearly basis, the Board, each director, and the respective committees conduct performance assessment to evaluate performance and overall compliance with the laws, regulations, and best practices.
The Board holds monthly and special meetings, as needed, with the agenda that include the discussion of business strategy and issues, updates by the Chairman of the Board, and the Board committees, reports on financial performance by the CFO, and operational performance by the President and CEO.