Meetings

Board meetings are scheduled before the start of the financial year, usually approved by the Board of Directors during their last meeting of each year. The schedule is posted under the Corporate Governance (CG) section of our company website. Committee meetings are scheduled by the respective committees. Consultation with, reports from, and discussion with Management on specific financial and operational matters take place as needed. In accordance with CG best practice and our Manual of Corporate Governance, the Board receives board documents and materials containing reports on Globe’s strategic, operational, and financial performance, and other regulatory and relevant matters, at least seven (7) business days in advance of Board meetings.

Attendance

In 2018, our Board of Directors had a total of seven (7) Board meetings. The attendance of each director in Board meetings held in 2018 is enumerated below.


The non-executive directors (NEDs) also meet separately during the year without any executives present. In 2018, our NEDs held their meeting in December, which was led by Mr. Rex Ma. A. Mendoza, our lead Independent Director (ID). Among the agenda items covered during the meeting were updates on regulatory matters and cybersecurity, and a discussion on Globe investments.


The average rate of attendance of our Board of Directors was ninety-eight percent (98%) in 2018, which is more than compliant with the Securities and Exchange Commission’s minimum attendance requirement of fifty percent (50%). Meanwhile, the average attendance rate of our IDs was one hundred percent (100%) for the same year.


BOARD MEMBERMEETINGS ATTENDED
PERCENT PRESENT

Jaime Augusto Zobel de Ayala6/786%

Lang Tao Yih, Arthur7/7100%

Fernando Zobel de Ayala7/7100%

Ernest L. Cu7/7100%

Romeo L. Bernardo7/7100%

Samba Natarajan7/7100%

Delfin L. Lazaro7/7100%

Jose Teodoro K. Limcaoco7/7100%

Rex Ma. A. Mendoza7/7100%

Saw Phaik Hwa7/7100%

Cirilo P. Noel15/5100%

Manuel A. Pacis11/1100%
1Mr. Noel was elected as ID, replacing Mr. Pacis, on April 17, 2018.

Discussions with independent views during meetings are encouraged, given due consideration and properly documented through the minutes of meetings.


The Board has access to the Corporate Secretary who, among his duties and responsibilities, acts as the adviser to directors regarding their responsibilities and obligations, and oversees the flow of information prior to meetings. The Board is also assisted by the Chief Compliance Officer to ensure regulatory compliance and sustain engagement on CG-related matters, among other duties and responsibilities.

Manual of Corporate Governance

Board of Directors' Charter

2018 Certification of Independent Directors

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