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 2019, the Board of Directors had a total of seven Board meetings. Attendance of each director in Board meetings held in 2019 is enumerated below. The average rate of attendance of the Board of Directors was ninety-six percent (96%) in 2019, which is more than compliant with the SEC’s minimum attendance requirement of fifty percent (50%). Meanwhile, the average attendance rate of the IDs was ninety-five percent (95%) for the same year.


The Non-Executive Directors (NEDs) also meet separately during the year without any executives present. The NEDs held their meeting in December, which was led by Mr. Rex Ma. A. Mendoza, the lead ID. All NEDs were present at the meeting. Among the agenda items covered during the meeting were updates on talent management, and a discussion on sustainability.


BOARD MEMBERMEETINGS ATTENDED
PERCENT PRESENT

Jaime Augusto Zobel de Ayala7/7100%

Lang Tao Yih, Arthur7/7100%

Fernando Zobel de Ayala7/7100%

Ernest L. Cu7/7100%

Romeo L. Bernardo7/7100%

Samba Natarajan6/786%

Delfin L. Lazaro6/786%

Jose Teodoro K. Limcaoco7/7100%

Rex Ma. A. Mendoza7/7100%

Saw Phaik Hwa7/7100%

Cirilo P. Noel6/786%


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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