The Board of Directors is responsible for the overall direction and management of the Company. The Board reviews the results of operations and the Company’s financial position on a monthly basis.

The Board and Senior Management

The following table sets out certain information regarding the members of the Board.

Atty. Darlene Marie B. Berberabe48FilipinoPresident, Chief Executive Officer and Director
Wai-Leong Chan57MalaysianDirector
Jun Tsusaka55JapaneseDirector
Raul B. de Mesa74FilipinoIndependent Director
Dr. Edgardo A. Faylona58FilipinoIndependent Director

Board Committees

The Board has special Committees, whose composition are as follows:

Audit Committee

Function. The Audit Committee is responsible for financial reporting and disclosures, risk management and internal controls, management and internal audit and external audit.

Raul B. de Mesa74FilipinoMember
Atty. Darlene Marie B. Berberabe48FilipinoMember

Corporate Governance Committee

Function. The Committee shall assist the Board in promoting and institutionalizing corporate governance principles and practices in the Company.

It shall also aid in establishing a formal and transparent procedure for developing a policy on remuneration within the Company.

Jun Tsusaka55JapaneseChairman
Atty. Darlene Marie B. Berberabe48FilipinoMember
Raul B. De Mesa74FilipinoMember

Investment Committee

Function. The Committee shall assist the Board in developing a sound investment policy and ensuring that it is implemented efficiently and effectively.

Jun Tsusaka55JapaneseMember
Atty. Darlene Marie B. Berberabe48FilipinoMember

Significant Employees

The Company considers the collective efforts of its employees as vital to its success and does not rely on key individuals for the conduct of its business. Therefore, the resignation or loss of any non-executive employee will not have any significant, adverse effect on the business. Other than standard employment contracts and [service bond agreement], there are no special arrangements with non-executive employees to assure their continued stay with the Company.

Family Relationships

Ms. Sylvia A. Navasero, Director, is the mother of Mr. Hector Thomas A. Navasero, former Chairman of the Board and Chief Executive Officer. Aside from this, there are no other family relationships either by consanguinity or affinity up to the fourth civil degree among the Company’s directors and senior management officers.

Key Officers

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