To ensure good governance of the Company, the Board is mandated under the Manual to formulate strategic objectives, key policies and procedures for the management of the Company.  Furthermore, the Board is to establish the mechanism for monitoring and evaluating the performance of the Management, especially that of the President and CEO.  Under its Charter, the Board is enjoined to periodically review the vision, mission, corporate strategic objectives and key policies of the Company to sustain the Company’s market competitiveness and enhance shareholder value.

In its regular meeting held on August 11, 2015 that was attended by all the members of the Board, the Board has confirmed the following mission and vision of the Company, as representative of its strategic and corporate objectives:

“Our mission is to create an exceptional customer experience in the provision of sustainable solutions vital to health and life.”

“Our vision is to become a leader in the provision of water, used water and environmental services which will empower people, protect the environment, and enhance sustainable development.”

The Company has an annual Board evaluation process that is required to be accomplished by the directors, which enables an informed assessment of the following:

  1. Board and Board Committee processes and meetings;
  2. compliance with the responsibilities and functions of the Board and Board Committees;
  3. Board-Management relationship;
  4. Board Member self evaluation; and
  5. performance of the President and CEO.

This evaluation enables the Board and the management to determine areas that need improvement on the very scope and criteria of the evaluation process. It also allows the Board to explain their respective ratings and to provide their own comments on the matters discussed in the evaluation. The scope and criteria for the Board Evaluation Process is contained in the Charter of the Board of Directors.

In addition to the annual Board evaluation process, the Audit and Governance Committee adopted SEC Memorandum Circular No. 4 Series of 2012 on the Guidelines for the Assessment of the Performance of Audit Committees of Companies Listed on the Philippine Stock Exchange which took effect on June 30, 2012. Pursuant to this, an annual evaluation is also being conducted to assess the performance of the Audit and Governance Committee.

These annual evaluation processes are facilitated by the Office of the Corporate Secretary.