The AEV Board of Directors conduct an annual performance assessment of the Board members and key officers. The Board members conduct a self-assessment of their individual and collective performance of the Board and Board Committees, and also evaluate the performance of the Chief Executive Officer, the Group Internal Audit Head, Chief Risk & Reputation Officer, and the Chief Compliance Officer of the company.
The directors and key officers are evaluated based on the following criteria: compliance with best governance practices and principles; participation and contribution to the Board and committee meetings; and assessment of performance against their duties and responsibilities as provided in the company’s Manual, Articles, and By Laws. Assessment results for the past three years are compared, and these are presented to the respective Board Environmental, Social and Corporate Governance Committees and to all Board members.
In 2021, the members of the AEV Board conducted the following performance reviews and assessments.
In addition, the Corporate Governance Code requires that at least once in every three years, the conduct of the Board performance assessment must be supported by an independent third-party facilitator. AEV complied with this requirement in 2020 with the engagement of the Good Governance Advocates and Practitioners of the Philippines (GGAPP), an independent association of corporate governance practitioners, to support its Board performance assessment exercise. The results of the assessment, as well as the recommendations from GGAPP, were presented and discussed during the ESCG Committee meeting on February 16, 2021.
