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The Governance and Management Team

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The Company believes that compliance with the principles of good governance begins with the Board of Directors. The Board conducts itself with utmost honesty and integrity in the discharge of its duties, functions, and responsibilities. The Board is vital in setting the ethical tone of the Company, not only by its own actions, but also in appointing and overseeing key executives and management.

Jon Ramon Aboitiz

Chairman of the Board (Non-Executive)
Mr. Jon Ramon Aboitiz, 69 years old, Filipino, has served as Chairman of the Board of Directors of AEV since January 5, 2009. He has been the Chairman of the Board Corporate Governance Committee since February 11, 2009 and has been a member of the Board Risk and Reputation Management Committee since May 17, 2010.

Mr. Aboitiz was President/Chief Executive Officer of AEV since 1994 until his retirement in December 2008. He began his career with the Aboitiz Group in 1970. From manager of Aboitiz Shipping Corporation, Mr. Aboitiz was promoted to President in 1976. He headed the Aboitiz Group's power business in 1989 and was President of Aboitiz & Company, Inc. (ACO) from 1991 to 2008. He is currently Chairman of the Board of Directors of ACO. He holds the following positions in publicly listed companies: Vice Chairman of Aboitiz Power Corporation (AboitizPower) and Union Bank of the Philippines (UnionBank); and a director of Bloomberry Resorts Corporation (Bloomberry) and International Container Terminal Services, Inc. (ICTSI). He is the Chairman of UnionBank's Executive Committee, Risk Management Committee and the Vice Chairman of its Corporate Governance Committee, including the latter’s Compensation Remuneration and Nomination Sub-Committees. He is a trustee and the Vice President of Ramon Aboitiz Foundation, Inc. (RAFI); a trustee of the Philippine Business for Social Progress (PBSP) and the Association of Foundations; and a member of the Board of Advisors of The Coca- Cola Export Corporation (Philippines) and Pilipinas Kao, Inc.

Mr. Aboitiz holds a Bachelor of Science degree in Commerce, Major in Management from the Santa Clara University, California, U.S.A. He is not connected with any government agency or instrumentality.

 
Jon Ramon Aboitiz PDF

Erramon I. Aboitiz

Director / President and Chief Executive Officer
Mr. Erramon I. Aboitiz, 61 years old, Filipino, has served as President & Chief Executive Officer of AEV since January 5, 2009. He has been a director of AEV since May 9, 1994 and a member of the Board Risk and Reputation Management Committee since May 18, 2015. Mr. Aboitiz was the Executive Vice President and Chief Operating Officer of AEV from 1994 to December 2008.

He is a director and the Chief Executive Officer of AboitizPower, and a director of UnionBank, both publicly listed companies. He is also a director and the President and Chief Executive Officer of ACO; the Chairman of the Board of Directors of Aboitiz Infracapital, Inc. (Aboitiz InfraCapital), San Fernando Electric Light & Power Co. Inc. (SFELAPCO), Subic EnerZone Corporation (SEZ), SN Aboitiz Power-Magat, Inc. (SN Aboitiz Power-Magat), SN Aboitiz Power-Benguet, Inc. (SN Aboitiz Power-Benguet), Manila-Oslo Renewable Enterprise, Inc. (MORE), Aboitiz Renewables, Inc. (ARI), Therma Power, Inc. (TPI), Aboitiz Land, Inc. (Aboitiz Land), CRH Aboitiz Holdings, Inc. (CRH Aboitiz), Abovant Holdings, Inc., (Abovant), Balamban Enerzone Corporation (BEZ) and Lima Enerzone Corporation (LEZ) and Vice Chairman of Republic Cement and Building Materials, Inc. (RCBM). He is  a director of Davao Light & Power Company, Inc. (Davao Light), Cotabato Light & Power Company (Cotabato Light), Therma South, Inc. (TSI), Apo Agua Infrastructura, Inc. (Apo Agua), AP Renewables, Inc. (APRI), Pilmico Foods Corporation (Pilmico), Pilmico Animal Nutrition Corporation (PANC), PETNET, INC. (PETNET), Archipelago Insurance Pte. Ltd. (Archipelago Insurance), AEV International Pte. Ltd. (AEV International), and AboitizPower International Pte. Ltd (AboitizPower International). He is also the Chairman of the Board of Trustees of Aboitiz Foundation, Inc. (Aboitiz Foundation), and is a director of the Philippine Disaster Recovery Foundation.

He holds a Bachelor of Science degree in Business Administration, Major in Accounting and Finance, from Gonzaga University, Spokane, Washington, U.S.A. He is not connected with any government agency or instrumentality.
Erramon I. Aboitiz PDF

Mikel A. Aboitiz

Director (Non-Executive)
Mr. Mikel A. Aboitiz, 62 years old, Filipino, has been Director of AboitizPower since February 13, 1998. He has been a member of the Board Audit Committee of AboitizPower since October 26, 2007, and of the Board Risk and Reputation Management Committee since May 19, 2014.

He was formerly President and Chief Executive Officer of City Savings Bank, Inc. (CitySavings) from 2001 to 2014; and Senior Vice President of AEV, a publicly-listed company, from 2004 to 2015. He is currently a director of ACO and a trustee and Treasurer of RAFI. He holds a degree in Bachelor of Science, Major in Business Administration, from Gonzaga University, Spokane, Washington, U.S.A.

He is not connected with any government agency or instrumentality. He is also not a director of any other publicly-listed company.
 

Endika M. Aboitiz

Director (Non-Executive)
Mr. Enrique M. Aboitiz, 63 years old, Filipino, has served as a director of AEV since May 9, 1994, and has been a member of the Board Risk and Reputation Management Committee since February 11, 2009. He is also the Chairman of the Board of Directors of AboitizPower, a publicly listed company, and a director of ACO. Mr. Aboitiz graduated with a Bachelor of Science degree in Business Administration, Major in Economics, from Gonzaga University, Spokane, Washington, U.S.A.

He is not connected with any government agency or instrumentality.
 
Endika M. Aboitiz PDF

Justo A. Ortiz

Director (Executive)
Mr. Justo A. Ortiz, 59 years old, Filipino, has served as a director of AEV since 1994. He has been a member of the Board Audit Committee since 2006 and the Board Risk and Reputation Management Committee since February 11, 2009. He is also the Chairman and Chief Executive Officer of UnionBank, a publicly listed company. Mr. Ortiz is a director of the Bankers Association of the Philippines; and a member of Philippine Trade Foundation, Inc. and World Presidents Organization. Prior to his stint in UnionBank, he was the Managing Partner for Global ​Finance and the Country Executive for Investment Banking at Citibank N.A. He graduated magna cum laude with a Bachelor’s Degree in Economics from the Ateneo de Manila University.

He is not connected with any government agency or instrumentality.
Justo A. Ortiz PDF

Antonio R. Moraza

Director (Executive
Mr. Antonio R. Moraza, 60 years old, Filipino, has been a director of AEV since May 18, 2009. He is currently a director and the President and Chief Operating Officer of AboitizPower, a publicly listed company. He is also the Chairman of the Board of Directors of Pilmico, PANC, Therma Visayas, Inc. (TVI), Therma Luzon, Inc. (TLI), Luzon Hydro Corporation (LHC), Hedcor, Inc. (Hedcor), Hedcor Tudaya, Inc. (Hedcor Tudaya), Hedcor Sibulan, Inc. (Hedcor Sibulan), Hedcor Sabangan, Inc. (Hedcor Sabangan), Hedcor Bukidnon, Inc. (Hedcor Bukidnon), Cebu Private Power Corporation (CPPC), APRI, Cotabato Light, Davao Light, Pagbilao Energy Corporation (PEC), Aseagas Corporation (Aseagas) and Aboitiz Power Distributed Energy, Inc. (APX). He is the Vice Chairman of Cebu Energy Development Corporation (Cebu Energy); a director and the Senior Vice President of ACO; the President and Chief Executive Officer of Abovant and ARI; and a director of SN Aboitiz Power-Benguet, SN Aboitiz Power-Magat, Southern Philippines Power Corporation (SPPC), STEAG State Power, Inc. (STEAG Power), Western Mindanao Power Corporation (WMPC), Redondo Peninsula Energy, Inc. (RP Energy), Therma Marine, Inc. (TMI), Therma Mobile, Inc. (TMO) and Aboitiz InfraCapital. Mr. Moraza holds directorship and management positions in GNPower-Mariveles Coal Plant Ltd. Co. and GNPower Dinginin Ltd. Co., and their holding companies. He is also a director and the President of TPI; and a trustee of AboitizFoundation.

He holds a Bachelor’s Degree in Business Management from the Ateneo de Manila University. He is not connected with any government agency or instrumentality.
 
Antonio R. Moraza PDF

Justice Jose C. Vitug (Ret.)

Independent Director
Justice Jose C. Vitug (ret.), 82 years old, Filipino, has served as an Independent Director of AEV since May 16, 2005. He is Chairman of the Board Audit Committee of AEV since May 18, 2009, member of the Board Corporate Governance Committee since February 11, 2009, and of the Board Risk and Reputation Management Committee since May 18, 2015. Justice Vitug is an Independent Director of ABS- CBN Holdings Corporation, a publicly listed company. He is also a Board Member and Law Dean of the Angeles University Foundation, Chairman of the Board of Trustees of Angeles University Foundation Medical Center and a Graduate Professor of the College of Law of San Beda College. Justice Vitug was formerly an Associate Justice of the Supreme Court, Chairman of the House of Representatives Electoral Tribunal, and Senior Member of the Senate Electoral Tribunal. He was also the Chairman of the Philippines Stock Exchange, Inc. Justice Vitug is a Professorial Lecturer of the Philippine Judicial Academy. He graduated cum laude from the Manuel L. Quezon University (MLQU) with a Bachelor’s Degree in Law. He holds a Master of Laws degree from the MLQU and a Master’s Degree in National Security Administration from the National Defense College of the Philippines. He was a Fellow of the Commonwealth Judicial Institute of Canada.

He also holds an Honorary Doctorate Degree of Law from the Angeles University Foundation. He is not an employee or officer of any government agency, instrumentality or government-owned and controlled organization.
 
Justice Jose C. Vitug (Ret.) PDF

Raphael P.M. Lotilla

Lead Independent Director
Mr. Raphael P.M. Lotilla, 59 years old, Filipino, has served as an Independent Director of AEV since May 21, 2012. He has been a member of the Board Audit Committee and the Board Corporate Governance Committee since May 21, 2012, and the Board Risk and Reputation Management Committee since May 18, 2015. He is an Independent Director of Trans Asia Petroleum Corporation and First Metro Investment, Inc., both publicly listed companies. He is an Independent Director of Petron Foundation, Inc., and the Chairman of the Board of Trustees of the Center for the Advancement of Trade Integration and Facilitation and Asia-Pacific Pathways to Progress Foundation, Inc. Mr. Lotilla has previously served the Philippine government in various capacities - Secretary of Energy; President and Chief Executive Officer of Power Sector Assets and Liabilities Management Corporation (PSALM); Deputy Director- General of the National Economic and Development Authority; Ex-Officio Chairman of the Philippines National Oil Company; Vice Chairman of the Boards of the National Power Corporation and the National Transmission Corporation, among others. Mr. Lotilla earned his Bachelor of Science in Psychology and Bachelor of Arts in History degrees from the University of the Philippines, and finished his Bachelor of Laws degree from the same university where he became a Professor of Law.

He holds a Master of Laws degree from the University of Michigan Law School, U.S.A. He currently serves as a member of the Board of Trustees of the Philippine Institute for Development Studies.
 
Raphael P.M. Lotilla PDF

Stephen T. CuUnjieng

Independent Director
Mr. Stephen T. CuUnjieng, 58 years old, Filipino, has served as Independent Director of AEV since May 17, 2010. He has been a member of the Board Audit Committee of AEV since May 16, 2011, the Board Corporate Governance Committee since May 21, 2012, and the Board Risk and Reputation Management Committee since May 17, 2010. He has a long and extensive experience in investment banking with a number of major international investment banks. He has led several high profile transactions in the Philippines and Asia and won 12 Deals of the Year awards since 2005.

He is currently Chairman for Asia of Evercore, an investment bank listed with the New York Stock Exchange (NYSE). He holds the following positions in publicly listed companies: Adviser to the Board of SM Investments Corporation; and Independent Director of Century Properties Group. Mr. CuUnjieng is on the Executive Board for Asia of the Wharton School of Business of the University of Pennsylvania in Philadelphia, PA, USA. He held positions as Vice Chairman, Managing Director and Director of Macquarie, a company listed with the Australian Securities Exchange, Merrill Lynch, a company listed with the New York Stock Exchange (NYSE), and Salomon Brothers, among others. He graduated from the Ateneo de Manila University with a Degree in Bachelor of Arts and also has a Bachelor’s Degree in Law (with honors) from the Ateneo Law School. He has a Master’s Degree in Business Administration from the Wharton School of the University of Pennsylvania, U.S.A.

He is not connected with any government agency or instrumentality.
 
Stephen T. CuUnjieng PDF
Jon Ramon Aboitiz
Chairman of the Board (Non-Executive)
Erramon I. Aboitiz
Director / President and Chief Executive Officer
Mikel A. Aboitiz
Director (Non-Executive)
Endika M. Aboitiz
Director (Non-Executive)
Justo A. Ortiz
Director (Executive)
Antonio R. Moraza
Director (Executive
Justice Jose C. Vitug (Ret.)
Independent Director
Raphael P.M. Lotilla
Lead Independent Director
Stephen T. CuUnjieng
Independent Director

 

 
The Company has three board committees established to assist the Board of Directors in its oversight responsibility over the Aboitiz Group:

Board Corporate Governance Committee


The Board’s ability to make decisions with governance impact is supported by the work of the Board Corporate Governance Committee. The Board Corporate Governance Committee assists, but does not pre-empt, any board responsibilities in making the final decisions on corporate governance, nomination and compensation matters.

The functions of the Board Corporate Governance Committee are laid down in the Manual of Corporate Governance.

Below are the members of the Board Corporate Governance Committee for 2017-2018:

Jon Ramon Aboitiz
Chairman (Non-Executive)

Mikel A. Aboitiz
Director (Non-Executive)

Justice Jose C. Vitug (Ret.)
Independent Director

Raphael P.M. Lotilla
Independent Director

Stephen T. CuUnjieng
Independent Director

M. Jasmine S. Oporto
Ex-Officio Member, Chief Compliance Officer

Xavier Jose Aboitiz
Ex-Officio Member, Chief Human Resources Officer

 

Board Audit Committee

 

The Company has a well-entrenched internal audit group, the Group Internal Audit, which is overseen by the Board through the Board Audit Committee. The Board Audit Committee represents the Board in its oversight responsibility over all audit-related matters of the Aboitiz Group. The Committee oversees the optimization of effective financial management, as well as compliance with regulatory reporting requirements for all business units.

The functions of the Board Audit Committee are laid down in the Board Audit Committee Charter.

Below are the members of the Board Audit Committee for 2017-2018:

Justice Jose C. Vitug (Ret.)
Chairman
Independent Director

Raphael P.M. Lotilla
Independent Director

Stephen T. CuUnjieng
Independent Director

Mikel A. Aboitiz
Director (Non-Executive)

Justo A. Ortiz
Director (Non-Executive)

Board Risk and Reputation Management Committee


 

The primary purpose of the Board Risk and Reputation Management Committee is to assist the Board, and to some extent the Board Audit Committee, in fulfilling the corporate governance responsibilities relating to risk management and brand reputation. The Committee also assists in defining the Company’s risk appetite and oversees the risk profile and performance against the defined risk appetite. It is also responsible for overseeing the identification, measurement, monitoring and controlling of the Company’s principal business risks.

The functions of the Board Risk and Reputation Management Committee are laid down in the Board Risk and Reputation Management Committee Charter.

Below are the members of the Board Risk and Reputation Management Committee for 2017-2018:

Enrique M. Aboitiz
Chairman (Non-Executive)

Justo A. Ortiz
Member (Non-Executive)

Jon Ramon Aboitiz
Member (Non-Executive)

Stephen T. CuUnjieng
Independent Director

Erramon I. Aboitiz
President and Chief Executive Officer

Justice Jose C. Vitug (Ret.)
Independent Director

Raphael P.M. Lotilla
Independent Director

Manuel R. Lozano
Ex-Officio Member,
Chief Financial Officer

Susan V. Valdez
Ex-Officio Member,
Senior Vice President –
Chief Corporate Services Officer
 

Board Related Party Transactions Committee

 

For purposes of ensuring transparency and fairness for all stakeholders, the Board constituted the Board Related Party Transactions (RPT) Committee to review proposed RPTs for the purpose of determining whether or not the transaction is conducted at an arm’s length basis and on terms no less than favorable than any such terms available to unconnected third parties under the same or similar circumstances.

The Committee evaluates on an ongoing basis existing relations between and among business and counterparties to ensure that all related parties are continuously identified, RPTs are monitored, and subsequent changes in relationships with counterparties (from non-related to related and vice versa) are captured. 

For a full discussion on the purpose, structure, and duties & responsibilities of the Committee, click here for a copy of the Board RPT Charter and RPT Policy.


Below are the members of the Board Related Party Transactions Committee for 2017-2018:

Stephen T. CuUnjieng
Chairman

Independent Director

Justice Jose C. Vitug (Ret.)
Independent Director
 

Raphael P.M. Lotilla
Independent Director


 

Mr. Erramon I. Aboitiz, 60 years old, Filipino, served as President & Chief Executive Officer of AEV since January 2009. He has been a Director of AEV since 1994 and was its Executive Vice President and Chief Operating Officer from 1994 to December 2008. He is also President and Chief Executive Officer of ACO. Mr. Aboitiz likewise holds the following directorships:

 
 
Position Company
Chairman Aboitiz Infracapital, Inc. (Aboitiz InfraCapital), San Fernando Electric Light & Power Co. Inc. (SFELAPCO), Subic EnerZone Corporation (SEZ), SN Aboitiz Power-Magat, Inc. (SN Aboitiz Power-Magat), SN Aboitiz Power-Benguet, Inc. (SN Aboitiz Power-Benguet), Manila-Oslo Renewable Enterprise, Inc. (MORE), Aboitiz Renewables, Inc. (ARI), Therma Power, Inc. (TPI), Aboitiz Land, Inc. (Aboitiz Land), CRH Aboitiz Holdings, Inc. (CRH Aboitiz), Abovant Holdings, Inc., (Abovant), Balamban Enerzone Corporation (BEZ) and Lima Enerzone Corporation (LEZ)
Vice Chairman Republic Cement and Building Materials, Inc. (RCBM)
Director Aboitiz Power Corporation (AboitizPower), Union Bank of the Philippines (UBP), Aboitiz & Company, Inc (ACO), Davao Light & Power Company, Inc. (Davao Light),
Cotabato Light & Power Company (Cotabato Light), Therma South, Inc. (TSI), Apo Agua Infrastructura, Inc. (Apo Agua), AP Renewables, Inc. (APRI), Pilmico Foods Corporation (Pilmico), Pilmico Animal Nutrition Corporation (PANC), PETNET, INC. (PETNET), Archipelago Insurance Pte. Ltd. (Archipelago Insurance), AEV International Pte.
Ltd. (AEV International), and AboitizPower International Pte. Ltd. (AboitizPower International). He is also the Chairman of the Board of Trustees of Aboitiz Foundation, Inc. (Aboitiz Foundation), Philippine Disaster Recovery Foundation

 
Mr. Aboitiz received his Bachelor of Science degree in Business Administration, major in Accounting and Finance, from Gonzaga University, Spokane, Washington, U.S.A. He is not connected with any government agency or instrumentality.

 

 
Mr. Manuel R. Lozano, 46 years old, Filipino, has been Senior Vice President/Chief Financial Officer/Chief Information Officer of AEV
since May 18, 2015. He is also an Ex-Officio Member of the Board Risk and Reputation Management Committee since May 18, 2015.
Mr. Lozano was First Vice President/Chief Financial Officer/Corporate Information Officer of AboitizPower from 2014 to 2015. He was the Chief Financial Officer of the Power Generation Group of AboitizPower from 2009 up to 2013.

Mr. Lozano likewise holds the following positions and directorships:
 
Position Company
Treasurer Metaphil International, Inc. (MII)
and Aboitiz Construction, Inc. (ACI), Aboitiz Foundation, Inc. (Aboitiz Foundation), Aboitiz InfraCapital;
Trustee Aboitiz Foundation
Director AEV Aviation, AEV CRH, Archipelago Insurance, AEV
International, PANC, Pilmico and RCBM, and an Alternate Director of Pilmico International, Inc. (Pilmico International)
 
Before he joined the Aboitiz Group, he was the Chief Financial Officer and a director of Paxys, Inc., a publicly listed company focused on the Business Process Outsourcing (BPO) industry and other IT-related sectors within the Asia Pacific region. He was also a director of Corporate Finance & Investment at NGL Pacific Ltd., a Regional Operating Headquarter related to the Usaha Tegas group of Malaysia. Mr. Lozano has a wide range of experience working in several financial institutions. He earned his Bachelor of Science in Business Administration degree from the University of the Philippines - Diliman and his Master’s Degree in Business Administration from The Wharton School of the University of Pennsylvania, U.S.A. He is not connected with any government agency or instrumentality. He is not a director of any publicly listed company.

 
Ms. M. Jasmine S. Oporto, 56 years old, Filipino, has been the Corporate Secretary of AEV since 2004 and Compliance Officer since November 2005. She is concurrently the Senior Vice President – Chief Compliance Officer of AEV.


Ms. Oporto likewise holds the following positions and directorships:
 
Position Company
Vice President for Legal Affairs Davao Light and Power Company
Compliance Officer and Corporate Secretary Aboitiz Power Corporation
Corporate Secretary Hijos de F. Escaño, Inc., Aboitiz InfraCapital
Assistant Corporate Secretary Visayan Electric Company
 
Prior to joining AEV, she worked in various capacities at the Hong Kong office of Kelley Drye & Warren, LLP, a New York-based law firm, and the Singapore-based consulting firm Albi Consulting Pte. Ltd. She graduated magna cum laude with a degree in Bachelor of Science in Landscape Architecture and obtained her Bachelor of Laws degree from the University of the Philippines - Diliman. She is a member of both the Philippine and New York State bars. Ms. Oporto is a teaching fellow of the Institute of Corporate Directors (ICD), after completing the Professional Director's Program conducted by ICD. She is a member of GRC Institute of Australia and is involved in governance and compliance work within the organization. She has completed the mandatory accreditation course of the Bangko Sentral ng Pilipinas on Corporate Governance and Risk Management for Board of Trustees/ Directors, and is an accredited provider of Harrison Assessment Talent Solutions. In addition, she has attended various seminars on corporate governance and compliance, including Compliance and Regulatory Management, Scenario Planning for Strategy, Management of Legal Risk and Services, and the Corporate Secretary Training of Trainers Program conducted by the International Finance Corporation and the ICD. Ms. Oporto was awarded Corporate Secretary of the Year in 2014 and 2015 by Corporate Governance Asia, Hong Kong. She is not connected with any government agency or instrumentality. She is not a director of any publicly listed company.
The Business Unit Heads for the year 2017-2018 are as follows:

 The following are the present membership of the Board Secretariat Team:                                                                         
 

M. Jasmine S. Oporto
SVP – Chief Compliance Officer /
Corporate Secretary


Mailene M. de la Torre

Senior Associate General Counsel
Assistant Corporate Secretary
 

Racquel G. Galang

Junior Associate General Counsel


Dana Maria R. Ouano
Stock Transfer Custodian


Reina C. Luciano
Paralegal
 

Marinel E. Mangubat
Paralegal