To help focus on specific corporate governance responsibilities and to aid in the optimal performance of its roles and functions, the Board created six (6) Committees namely the Executive Committee; the Audit Committee; the Corporate Governance Committee; the Risk Oversight Committee; the Related Party Transactions Committee; and the Compensation and Remuneration Committee.

 

EXECUTIVE COMMITTEE

The Executive Committee oversees the management of the Company and is responsible for the Company’s finances, goals, and policies. Further, it is also tasked to foster the long-term success of the Company and sustain its competitiveness and profitability in a manner consistent with its corporate objectives and the best interests of its stockholders through sound strategic directions and policies, guidelines and programs that can sustain the Company’s long-term viability and strength.

Willy N. Ocier – Chairperson

Elizabeth Anne C. Uychaco – Vice Chair

Manuel A. Gana – Member

Jacinto C. Ng, Jr. – Member

Virginia A. Yap – Member

To view the Executive Committee Charter, click here.

Executive Committee Attendance

 

AUDIT COMMITTEE 

The Audit Committee directly interfaces with the internal and external auditors in the conduct of their duties and responsibilities. Its mandate includes the review of the Company’s financial reports and subsequent recommendation to the Board for approval. The Committee also reviews the Company’s Internal Control System, its audit plans and audit processes, and the Internal Audit Charter. The Chief Executive Officer and the Chief Audit Executive attest that a sound internal audit, control and compliance system is in place and working effectively. View the attestation here.

Amando M. Tetangco, Jr. (Independent Director) – Chairperson

Jacinto C. Ng, Jr. (Non-Executive Director) – Member 

Maria Gracia P. Tan* (Independent Director) – Member

*- first elected on June 25, 2021

To view the Audit Committee Charter, click here.

Audit Committee Attendance

 

CORPORATE GOVERNANCE COMMITTEE

The Corporate Governance Committee is tasked to advise and assist the Board of Directors in performing its responsibilities with regard to corporate governance compliance in relation to the Company’s Manual on Corporate Governance, PSE’s rules on disclosures and corporate governance guidelines of the SEC. Likewise, it shall also be responsible for monitoring the trends on corporate governance and for making the appropriate recommendations to the Board of Directors.

NOTEThe functions of the Nomination Committee, the Corporate Social Responsibility Committee and the Environmental and Social Committee were merged with the Corporate Governance Committee's.

Jaime J. Bautista* (Independent Director) – Chairperson

Maria Gracia P. Tan* (Independent Director) – Member

Amando M. Tetangco, Jr. (Independent Director) – Member

*- first elected on June 25, 2021

To view the Corporate Governance Committee Charter, click here.

Corporate Governance Committee Attendance

 

RISK OVERSIGHT COMMITTEE

The Risk Oversight Committee reviews and assesses the effectiveness of the Company’s risk management system in the mitigation of financial and non-financial risks.

NOTE: The Risk Management Committee was renamed as Risk Oversight Committee.

Maria Gracia P. Tan* (Independent Director) – Chairperson

Jacinto C. Ng, Jr. (Non-Executive Director) – Member

Amando M. Tetangco, Jr. (Independent Director) – Member

*- first elected on June 25, 2021

To view the Risk Oversight Committee Charter, click here.

Risk Oversight Committee 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.

Jaime J. Bautista* (Independent Director) – Chairperson

Maria Gracia P. Tan* (Independent Director) – Member

Amando M. Tetangco, Jr. (Independent Director) – Member

*- first elected on June 25, 2021

To view the Related Party Transactions (RPT) Committee Charter, click here.

RPT Committee Attendance

 

COMPENSATION AND REMUNERATION COMMITTEE

The Compensation and Remuneration Committee is tasked with the oversight of policies on salaries and benefits, as well as promotions and other forms of career advancement. The Committee also reviews existing human resource policies to ensure the continued growth and development of the Company’s workforce.

Jose T. Sio (Non-Executive Director) – Chairperson

Manuel A. Gana (Executive Director) – Member

Amando M. Tetangco, Jr. (Independent Director) – Member

Elizabeth Anne C. Uychaco (Non-Executive Director) – Member

To view the Compensation and Renumeration Committee Charter, click here.

Compensation and Remuneration Committee Attendance

 

The Nomination Committee was merged with the Corporate Governance Committee in Apri 2017. The Corporate Social Responsibility and Environmental-Social Committees were integrated with the Corporate Governance Committee on June 25, 2021.

SUMMARY OF BOARD ACTIVITIES FOR 2019 and 2020 

To view the Summary of Board Activities for 2020, click here. Meanwhile, Summary of Board Activities for 2019 can be accessed here.