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.
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.