Board of Directors

Filipino, 59 years old, Chairman of the Board of Manila Water since May 15, 1997. He also serves as the Chairman of the Executive Committee and is a member of the Talent and Remuneration Committee. He is also a member of the board of the following Philippine publicly listed companies: Ayala Corporation, Ayala Land, Inc., Bank of the Philippine Islands, Globe Telecom, Inc., Integrated Micro-Electronics, Inc., and Pilipinas Shell Philippine Corporation. 

Mr. Zobel de Ayala is also a member of the board of the following non-listed companies: AC Energy Inc., AC Energy Philippines, Inc., AC Industrial Technology Holdings, Inc., AC Infrastructure Holdings Corporation, AC International Finance Ltd., AC Venture Holding Corp., Accendo Commercial Corporation, AG Holdings Ltd., Alabang Commercial Corporation, ALI ETON Property Development Corporation, Asiacom Philippines, Inc., Ayala Foundation, Inc., Ayala Group Club, Inc., Ayala Healthcare Holdings, Inc., Ayala International Pte. Ltd., Ayala Retirement Fund Holdings, Inc., Berkshires Holdings, Inc., Bonifacio Art Foundation, Inc., Bonifacio Land Corporation, BPI Foundation, Ceci Realty, Inc., Columbus Holdings, Inc., Emerging City Holdings, Inc., Fort Bonifacio Development Corporation, Georgetown University, Honda Cars Philippines, Liontide Holdings, Inc., INSEAD Business Schoool, Isuzu Philippines, LiveIt Investments Ltd., Mermac, Inc., Sonoma Services, Inc., and Tikehau Capital. 

Concurrently, he also holds the following positions: President and Chief Operating Officer of Ayala Corporation; Chairman of the Board of Ayala Land, Inc., Manila Water Company, Inc., AC International Finance Ltd., ALI Eton Property Development Corporation, Liontide Holdings, Inc., AC Energy, Inc., AC Energy Philippines, Inc., Ayala Healthcare Holdings, Inc., Automobile Central Enterprise, Inc., Alabang Commercial Corporation, Accendo Commercial Corp., Hero Foundation, Inc., and Chairman of Habitat for Humanity's Asia-Pacific Capital Campaign Steering Committee; 

He is the co-chairman of the Board of Trustees of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Vice-Chairman of AC Industrial Technology Holdings, Inc., Ceci Realty Inc., Fort Bonifacio Development Corporation, Bonifacio Land Corporation, Emerging City Holdings, Inc., Columbus Holdings, Inc., Berkshires Holdings, Inc., AKL Properties Inc., AC Ventures Holding Corp. and Bonifacio Art Foundation, Inc.. He is a director of Director of LiveIt Investments Ltd., AG Holdings Ltd., AC Infrastructure Holdings Corporation, Asiacom Philippines, Inc., Ayala Retirement Fund Holdings, Inc., Honda Cars Philippines, Inc., Isuzu Philippines Corporation, and Manila Peninsula, INSEAD and Georgetown University. 

He is a member of the Tikehau Capital International Advisory Board, Philippine-Singapore Business Council, World Presidents' and Chief Executives Organization; Organization. He is also a member of the Board of Trustees, Caritas Manila, Pilipinas Shell Foundation and the National Museum; a member of the Tate Museum Asia-Pacific Acquisitions Committee, Asia Philanthropy Circle, The Metropolitan Museum International Council and Hispanic Society Museum & Library International Advisory Council. 

Mr. Zobel de Ayala holds a Liberal Arts degree from Harvard College, and a Certificate in International Management from INSEAD, France. 

Filipino, 60, Director of Ayala Corporation since May 1987. He is the Chairman and CEO of Ayala Corporation since April 2006. He holds the following positions in publicly listed companies: Chairman of Globe Telecom, Inc., Integrated Micro-Electronics, Inc. and Bank of the Philippine Islands; Vice Chairman of Ayala Land, Inc., Manila Water Company, Inc. and AC Energy Philippines, Inc. He is also the Chairman of Ayala Retirement Fund Holdings, Inc., AC Industrial Technology Holdings, Inc., AC Ventures Holding Corp., AC Infrastructure Holdings Corporation and Asiacom Philippines, Inc.; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Director of Alabang Commercial Corporation, Ayala International Pte. Ltd., AC Energy, Inc., Ayala Healthcare Holdings, Inc., Light Rail Manila Holdings, Inc. and AG Holdings Ltd. 

Outside the Ayala group, he is a member of various business and socio-civic organizations in the Philippines and abroad, including the JP Morgan International Council, JP Morgan Asia Pacific Council and Mitsubishi Corporation International Advisory Council. He sits on the board of the Singapore Management University, and on various advisory boards of Harvard University, including the Global Advisory Council, HBS Board of Dean’s Advisors, and HBS Asia-Pacific Advisory Board, which he chairs. He is Chairman Emeritus of the Asia Business Council, a member of the Global Board of Adviser of the Council on Foreign Relations, Co-Vice Chairman of the Makati Business Club, Chairman of Endeavor Philippines, and a board member of Eisenhower Fellowships. 

He was awarded the Presidential Medal of Merit in 2009, the Philippine Legion of Honor with rank of Grand Commander in 2010, and the Order of Mabini with rank of Commander in 2015 by the President of the Philippines in recognition of his outstanding public service. In 2017, he was recognized as a United Nations Sustainable Development Goals Pioneer by the UN Global Compact for his work in sustainable business strategy and operations. The first recipient of the award from the Philippines, he was one of 10 individuals recognized for championing sustainability and the pursuit of the 17 Sustainable Development Goals (SDGs) in business. 

Mr. Zobel de Ayala graduated with B.A. in Economics (Cum Laude) from Harvard College in 1981 and obtained an MBA from the Harvard Graduate School of Business in 1987. 

Filipino, 59 years old. Director, President and Chief Executive Officer since 2019. He is also a member of the Executive Committee. 

Mr. Almendras holds a bachelor’s degree in Business Management from the Ateneo de Manila University. He also completed the Strategic Business Economics Program from University of Asia & the Pacific. 

Mr. Almendras also serves as Chairman and Director of Light Rail Manila Holdings 6, and MCX Tollway, Inc. He is a Director and the President of AC Infrastructure Holdings Corporation, a Director of AC Energy, Inc., Light Rail Manila Holdings, Inc., Light Rail Manila Holdings 2, Inc., Light Rail Manila Corporation, A2 Airport Partners, Inc., Kenh Dong Water Holdings Pte. Ltd., Manila Water Asia Pacific Pte. Ltd., Manila South East Asia Holdings Pte. Ltd., Manila Water South Asia Holdings Pte. Ltd., Manila Water Thailand Holdings Pte. Ltd., and Thu Duc Water Holdings, Pte. Ltd. He is the Chairman of Manila Water Philippine Ventures, Boracay Island Water Company, Inc., and Manila Water Total Solutions. He is the Vice-Chairman of Laguna AAAWater Corporation. He also serves as a director of AF Payments, Inc. He is a Senior Managing Director of Ayala Corporation, a member of the Ayala Group Management Committee Meeting, and Executive Vice-President of Asiacom Philippines, Inc. 

Mr. Almendras previously served as President of Manila Water Company, Inc. from 2009 to 2010. He was also a former officer of Ayala Land, Inc. He served as the Secretary of Foreign Affairs for the Republic of the Philippines from March to June 2016, as Cabinet Secretary under the Office of the President from November 2012 to March 2016, and Secretary of the Department of Energy from July 2010 to October 2012. He was Co-chair of the Long-Term Strategy for the International Renewable Energy Agency (IRENA) held in Abu Dhabi in 2011, and a Member of the Executive Board of the International Energy Forum (IEF) in 2011. 

Mr. Almendras received the ASEAN Individual Excellence in Energy Management in 2013 and was an Order of Lakandula and Rank of Gold Cross Bayani awardee in 2016. Under his leadership, the Department of Energy ranked as one of the Top 10 Performers, in a survey among government agencies on government performance specifically in ensuring integrity in public service. In June 2013, he was given the rare privilege of addressing the United Nations Economic and Social Council (ECOSOC) at the Palais des Nations, Geneva and then again in December 2013 for the United Nations’ Special Meeting of the ECOSOC in New York. 

During his term as the President and CEO of MWC from 2009 to 2010, the Company was awarded as one of the Best Managed Companies in Asia, the Best in Corporate Governance, one of the Greenest Companies in the Philippines and hailed as the world’s Most Efficient Water Company. 

Filipino, 66 years old. Director of Manila Water since November 2009. He is the Vice-Chairman of the Executive Committee, a member of the Audit Committee, and the Board Risk Oversight Committee. 

Mr. Ablaza is also a director of the following publicly-listed companies: Bank of the Philippine Islands, AC Energy Philippines, Inc., and iPeople, Inc. He is also a director of Bank of the Philippine Islands Savings Bank, BPI Capital, Purefoods International Ltd., Asiacom Philippines, Inc., LiveIT Investment Limited, Ayala Foundation, Inc., A.C.S.T. Business Holdings, Inc., AC Infrastructure Holdings Corporation, Ayala Retirement Fund Holdings, Inc., Ayala Healthcare Holdings, Inc., and Healthway Philippines, Inc.

Mr. Ablaza also serves as the President of Ayala Retirement Fund Holdings, Inc, and Advanced Info Services, PLC (Thailand). 

Mr. Ablaza was the President and CEO of Manila Water Company, Inc. from 2010 to 2017. He was also the Chairman of the Board of Directors of Manila Water Philippine Ventures, Inc., Boracay Island Water Company, Inc., Clark Water Corporation, Manila Water Total Solutions Corp., Manila Water Asia Pacific Pte. Ltd, Manila Water South Asia Holdings Pte. Ltd., Thu Duc Water Holdings Pte. Ltd., Kenh Dong Water Holdings Pte. Ltd., and Manila Water International Solutions, Inc.. He was also the President of Manila Water Consortium, Inc. and Manila Water International Solutions, Inc., Vice-Chairman of Laguna AAAWater Corporation, and Chairman of the Board of Trustees of Manila Water Foundation, Inc. In 1997, Mr. Ablaza was the Chief Operating Officer of Globe Telecom, Inc and became its President and CEO from 1998 to April 2009. He was the Chairman of the Board of Directors of Innove Communications, Inc., a wholly owned subsidiary of Globe Telecom Inc. from October 2003 to April 2009. In April 2009, he was tasked to handle AC Capital as Deputy CEO and became CEO the following year. 

Before joining Ayala Group, he held several positions in Citibank: Vice-President and Country Business Manager for the Philippines and Guam of Citibank, N.A. for its Global Consumer Banking Business (1994-1997), Vice-President for Consumer Banking of Citibank, N.A. Singapore (1994-1995), Vice President for Consumer Account Management Group-Citibank Manila in 1986 and thereafter became the bank’s representative to the board of directors of City Trust Banking Corporation and its various subsidiaries from 1987 to 1994.

In 2004, Mr. Ablaza was recognized by CNBC as the Asia Business Leader of the Year, making him the first Filipino CEO to win the award. In the same year, he was awarded by Telecom Asia as the Best Asian Telecom CEO. In 2013, he was recognized for his consistent leadership and innovation across the banking, investment, telecommunications and utility service industries through the Citi Distinguished Alumni Award for Leadership and Ingenuity. Mr. Ablaza was the first Filipino to be awarded with such an honor.

Mr. Ablaza graduated summa cum laude from De La Salle University where he earned his Liberal Arts Degree, Major in Mathematics (Honors Program). 

Filipino, 72 years old. He is a director of Manila Water Company, Inc. since April 1998. He also serves as a member of the Company’s Executive Committee. 

Mr. Aquino also serves as director of Ayala Land, Inc., The Philippine American Life & General Insurance Company, NuevoCentro, Inc., Anvaya Beach & Nature Club, and Mano Amiga Academy, Inc. 

Mr. Aquino first joined Manila Water as Group Director for Corporate Affairs and was later appointed President and CEO in January 1999. He left Manila Water to take on the position of President of Ayala Land, Inc. from April 2009 to April 2014, but remained a Director of the Company. 

He was named "Co-Management Man of the Year 2009" by the Management Association of the Philippines for his leadership role in a very successful waterworks privatization and public-private sector partnership. 

Mr. Aquino Has been with the Ayala Group in various capacities for the past forty (40) years and has held the position of Senior Managing Director in Ayala Corporation. He was President of the Ayala Property Management Corporation from 1989 to 1999 and Senior Vice President of Ayala Land, Inc. from 1989 to 1998. He was also a Business Unit Manager at IBM Philippines, Inc. from 1968-1980. He is also a member of the Multi Sectoral Advisory Board of the Philippine Army and the Multi Sector-Governance Council of the Armed Forces of the Philippines. In 2015, he was elected as Director of The Philippine American Life and General Insurance Company. 

Mr. Aquino graduated with a Bachelor’s Degree in Management from Ateneo de Manila University. He completed academic units for a Master’s Degree in Business Management from the Ateneo Graduate School of Business. 

Filipino, 73 years old, director of Manila Water since May 2002. Mr. Lazaro is also a director of Ayala Land, Inc., Integrated Micro-Electronics, Inc., Ayala Corporation, Globe Telecom, Inc., and a member of the BPI Advisory Council. He also sits on the Board of Asiacom Philippines, Inc., Bell Ridge Resources Corporation, Beyond Borders Medical Solutions, DLLazaro, Inc., DLL Manunong Holdings Corporation, DLL Shaw Holdings Corporation, DLL Woodstown Holdings Corporation, Lazaro Agricultural Corporation, Quezon Avenue Holdings, Corporation, Atlas Fertilizer Corporation, AC International Finance, AYC Holdings, Inc., ACST Business Holdings, Inc., AC Industrial Technology Holdings, Inc., and Lazaro, Bernardo, Tiu. 

Mr. Lazaro also serves as the Chaiman and President of Bell Bridge Resources Corporation, Beyond Borders Medical Solutions, DLLazaro, Inc., DLL Maunong Holdings Corporation, DLL Shaw Holdings Corporation, DLL Woodstown Holdings Corporation and Lazaro Agricultural Corporation; Chairman of Atlas Fertilizer Corporation; and Vice Chairman and President of Asiacom Philippines, Inc.

Mr. Lazaro was named Management Man of the Year in 1999 by the Management Association of the Philippines for his contribution to the conceptualization and implementation of the Philippine Energy Development Plan and to the passage of the law creating the Department of Energy. He was also cited for stabilizing the power situation that helped the country achieve successive high growth levels up to the Asian crisis in 1997. 

Mr. Lazaro holds a bachelor’s degree in Metallurgical Engineering from the University of the Philippines, and an MBA (with Distinction) from the 

Harvard Graduate School of Business.

Filipino, 73 years old. Lead Independent Director of Manila Water. Mr. Reyes is also the Chairman of the Audit Committee, a member of the Talent and Remuneration Committee, Nomination Committee, and the Board Risk Oversight Committee. He has served as a member of the Board of Manila Water since 2005.

Mr. Reyes is also a director of the following publicly listed companies: Cosco Capital Inc., D.M. Wenceslao & Associates, Inc., PXP Energy Corp., and Pepsi Cola Products Phils. Inc. where he serves as the Chairman. He is a member of the advisory council of Bank of the Philippine Islands, and Basic Energy Corporation. 

Mr. Reyes serves as the Chairman of Link Edge Inc., PLDT Communications and Energy Ventures Inc., Pioneer Insurance & Surety Corp., Pioneer Intercontinental Insurance Corp., Pioneer Life Inc., Phil. Dealing System Holdings Corp., Phil. Dealing & Exchange Corp., Phil. Depository & Trust Corp., Phil. Securities Settlement Corp., Petrolift Corp., Team Energy Corp., Sun Life Financial Phils., Inc., and Sun Life Prosperity Funds. He is also a member of the Board of Trustees of Pilipinas Shell Foundation Inc., and El Nido Foundation. 

Mr. Reyes holds a Bachelor of Arts Degree in Economics (Cum Laude) from Ateneo de Manila University. He has taken post-graduate studies from the Ateneo de Manila Graduate School of Business, a Management Development Program from Harvard Business School, a Commercial Management Study Program of Shell International Petroleum Co., UK from the Lensbury Centre. He also took up Management Development leading to a Diploma in Business Administration and a Certificate in Export Promotion from the Waterloo Lutheran University in Canada. He was part of the Business Management Consultants and Trainers’ Program of the Japan Productivity Center/Asian Productivity Organization in Japan wand Hong Kong. 

Filipino, 65 years old. Independent Director of Manila Water since April 2013. Ms. Nuesa is the Chairman of the Corporate Governance Committee, Related Party Transactions Committee, and is a member of the Talent and Remuneration Committee. 

Ms. Nuesa also serves as a director of the following publicly listed companies: Far Eastern University, Integrated Micro Electronics Inc., and AC Energy Philippines, Inc. She is also a director of the following non-listed companies: ALFM Mutual Funds Group, FERN Realty Corp., East Asia Computer Center Inc. and Far Eastern College Silang, Inc. 

Ms. Nuesa is a Senior Board Adviser of Metro Retail Stores Group (MRSGI); an adviser to the Board of Vicsal Development Corporation; Chairman of the Board of the Judicial Reform Initiative, Director of the Financial Executives Institute of the Philippines, and a Trustee of the Institute of Corporate Directors. 

Ms. Nuesa was a Managing Director of Ayala Corporation where she served in various senior management positions until December 2011. She was the Chief Finance Officer and Chief Administrative Officer of Integrated Micro-Electronics, Inc. from January 2009 to July 2010, the Chief Finance Officer, of Manila Water Company, Inc. from January 2000 to December 2008, Group Controller and later Vice President for Commercial Centers of Ayala Land, Inc. from January 1989 to March 1999. She also served as a board member of various subsidiaries of Ayala Land Inc., and Integrated Micro-Electronics. She was also a member of the board of trustees of Manila Water Foundation, Inc. 

Ms. Nuesa was awarded the ING-FINEX Chief Finance Officer of the year for 2008. 

Ms. Nuesa earned her bachelor’s degree in Commerce from Far Eastern University where she graduated summa cum laude. She completed her MBA at the Ateneo-Regis Graduate School of Business. She was part of the Advanced Management Program of Harvard Business School, the Financial Management Program of Stanford University. She also completed an Audit Committee Seminar at Harvard Business School. Ms. Nuesa is a Certified Public Accountant. 

Filipino, 80 years old. Independent Director since April 2014. Dr. Laya serves as the Chairman of the Board Risk Oversight Committee, a member of the Audit Committee, Related Party Transactions Committee, and the Nomination Committee.

Dr. Laya is also a member of the Board of Directors of the following publicly listed companies: Ayala Land, Inc., Philippine Trust Company, GMA Network, Inc., and GMA Holdings, Inc.

He is also a director of the Philippine AXA Life Insurance Co., Inc., Cultural Center of the Philippines, St. Paul's University - Quezon City, Ayala Foundation, Inc., Yuchengco Museum, Escuela Taller de Filipinas Foundation, Inc., Don Norberto Ty Foundation, Inc., Charter Ping an Insurance Corporation, Metropolitan Museum of Manila, and the Makati Sports Club, Inc.

Dr. Laya is the Chairman and President of Philippine Trust Company (Philtrust Bank), Chairman of Don Norberto Ty Foundation, Inc., Independent Director of Philippine AXA Life Insurance Co., Inc., GMA Network, Inc., GMA Holdings, Inc., Ayala Land, Inc., and Charter Ping An Insurance Corporation. He is a Trustee of Cultural Center of the Philippines, St. Paul University -- Quezon City, Metropolitan Museum of Manila, Yuchengco Museum, Ayala Foundation, Inc., Escuela Taller de Filipinas Foundation, Inc. He also serves as a director of various family corporations.

Dr. Laya has served as Minister of the Budget; Minister of Education, Culture and Sports; Governor of the Central Bank of the Philippines; Chairman of the National Commission for Culture and the Arts; and Professor and Dean of Business Administration of the University of the Philippines. 

Dr. Laya earned his bachelor’s degree in Business Administration from the University of the Philippines where graduated Cum Laude. He completed a master’s degree in Industrial Management from the Georgia Institute of Technology, and a Doctorate Degree in Financial Management from Stanford University. He is a Certified Public Accountant.

Filipino, 74 years old. Independent Director since April 2010. Ambassador Cuisia is also the Chairman of the Nomination Committee and the Talent and Remuneration Committee. He is also a member of the Audit Committee, the Corporate Governance Committee, the Related Party Transactions Committee, and the Board Risk Oversight Committee. 

He is a member of the board of the following publicly listed companies: SM Prime Holdings, PHINMA Corporation, and Century Properties Group, Inc. where he serves as an Independent Director. He serves as the Chairman of the Board of The Covenant Car Company Inc., FWD Insurance, and the Ramon Magsaysay Awards Foundation. He is the Chairman of the Board of Trustees of the Asian Institute of Management, the University of Asia & the Pacific, and a CV Starr Chairman for Corporate Governance at the Asian Institute of Management. Ambassador Cuisia also serves as Vice-Chairman of the Board and Lead Independent Director of SM Prime Holdings, a director of the Asia Breast Center, Inc., a member of the Board of Trustees of the De La Salle Medical & Health Sciences Institute, and the Board of Trustees of the De La Salle University-Dasmarinas. He is also a Convenor-Trustee of the Philippine Business for Education (PBEd). 

Mr. Cuisia was nominated by President Benigno S. Aquino III to be Ambassador of the Republic of the Philippines to the United States of America on November 30, 2010 and confirmed by the Commission on Appointments on February 09, 2011. He formally assumed his position on April 2, 2011 and served until June 2016. 

Prior to his appointment, Ambassador Cuisia was Vice Chairman of Philam Life after having served the company as its President and Chief Executive Officer for 16 years. He was also Chairman of the Board for BPI-Philam Life Assurance Co., the Philam Foundation and Tower Club, Inc. 

Before becoming Philam Life's President and CEO for sixteen (16) years, Mr. Cuisia served the Philippine Government as Governor of the Central Bank of the Philippines and Chairman of its Monetary Board from 1990-1993. He was also appointed Commissioner, representative of the Employer's Group, for the Social Security System (SSS) in September 2010. Mr. Cuisia was also Governor for the Philippines to the International Monetary Fund and Alternate Governor to the World Bank. Prior to service in the Central Bank, he was also the Administrator of the Social Security System from 1986- 1990. 

Ambassador Cuisia is a recipient of numerous awards and accolades including 2017 SIGNUM MERITI for exemplary public service from De La Salle University, Ten Outstanding Filipino (TOFIL) awardee on December 2016 by the JCI Senate and ANZA Foundation, the Order of the Sikatuna with the rank of Grand Cross by President Benigno Aquino III in 2016, Lifetime Contributor Award (public sector) by the Asia CEO Forum in 2015, the Joseph Wharton Award for Lifetime Achievement by the prestigious Wharton Club of Washington, DC in May 2011, Management Association of the Philippines’ Management Man of the Year for 2007, 2006 Distinguished La Sallian Award; Manuel L. Quezon Award for Exemplary Governance in 2006, Raul Locsin CEO of the Year Award in 2004, and Ten Outstanding Young Men (TOYM) Award for Domestic Banking in 1982. 

Ambassador Cuisia earned his AB-BSC Degrees from the De La Salle University where he graduated Magna Cum Laude. He completed his MBA from the Wharton Graduate School of Business, University of Pennsylvania where he was a University Scholar. 

Filipino, 57, assumed his role as Corporate Secretary of the Company on April 3, 2006. Mr. Hermosura has served as Managing Director of Ayala since 1999 and a member of the Management Committee of Ayala (Holding Company) since 2009 and the Group Management Committee since 2010. 

He also holds the following positions: Group Head of Corporate Governance, Chief Legal Officer, Compliance Officer, Corporate Secretary and Data Protection Officer of Ayala Corporation; CEO of Ayala Group Legal; Group General Counsel and Corporate Secretary of Ayala Land, Inc.; Corporate Secretary of Globe Telecom, Inc., Integrated Micro-Electronics, Inc., Ayala Foundation, Inc. and AC Energy Philippines, Inc.; Corporate Secretary and a member of the Board of Directors of a number of companies in the Ayala Group. 

Mr. Hermosura is currently a member of the faculty of the College of Law of San Beda University. He graduated valedictorian with Bachelor of Laws degree from San Beda College of Law in 1986 and placed third in the 1986 Bar Examinations.