Corporate Orientation for Directors

The members of the Board are to regularly attend seminars and conferences to continuously update themselves on the developments in policy, regulations and standards on good corporate governance.  Under the Company’s Manual, the members of the Board are also provided with such resources, trainings and continuing education to enable each member to actively, independently and judiciously participate in Board and Committee meetings.

Newly-elected members of the Board undergo orientation programs for them to have a working knowledge of the statutory and regulatory requirements affecting the Company. They are also required to keep abreast with industry developments and business trends in order that they may promote the Company’s competitiveness and sustainability.  Attendance in a corporate governance seminar conducted by a duly-recognized private or governmental institution is also a mandatory requirement prior to their assumption of office.

The Company also provides general access to training courses to its directors as a matter of continuous professional education as well as to enhance their skills as directors, and keep them updated in their knowledge and understanding of the Company’s business. The Board and Board Committees are also allowed to hire independent legal counsel, accountants or other consultants to advise them when necessary.

At every board meeting, directors are provided with a management update on the operational and financial status of the Company to ensure that the directors are continuously informed of new developments and the performance of the Company.

Upon assumption of office, a director appointed for the first time undergoes a corporate orientation program conducted by the Office of the Corporate Secretary. The corporate orientation program includes modules on the operations of the Corporation, as well as relevant contracts of the Company. The orientation also covers existing policies, rules and regulations of the Company. The curriculum of the orientation program may be revised as often as necessary to include other relevant subjects and matters relating to the Company.  In addition to the corporate orientation program for new directors, the Office of the Corporate Secretary informs the Board of any updates on the matters covered by the orientation program. The corporate orientation program and updates are usually given during the regular meetings of the Board.

These programs notwithstanding, directors are encouraged to attend external trainings, courses or continuing professional education programs on corporate governance.  Director/s are required to inform the Office of the Corporate Secretary of the trainings or courses attended for record and disclosure purposes.

DIRECTOR PROGRAM TRAINING INSTITUTION DATE OF TRAINING
Fernando Zobel de Ayala Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Jaime Augusto Zobel de Ayala Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Gerardo C. Ablaza, Jr. Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Antonino T. Aquino Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Jose L. Cuisia, Jr. Permanently Exempted pursuant to Memorandum Circular No. 2 Series of 2015 of the Securities and Exchange Commission N/A N/A
John Eric T. Francia Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Victoria P. Garchitorena Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Delfin L. Lazaro Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Jaime C. Laya Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Sherisa P. Nuesa Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015
Oscar S. Reyes Corporate Governance Summit: Learnings from the Public Sector on Corporate Governance Institute of Corporate Directors February 18, 2015