The Manual on Corporate Governance (Manual) is the corporate governance charter of the Company. It is a clear statement by the Company, its Board of Directors, Management, Employees and Shareholders, that corporate governance is a necessary component of sound strategic business management. The Manual was approved by the Board at its regular meeting on August 14, 2002. The Manual has since been reviewed, revised, updated and amended by subsequent Board actions in keeping with evolving best practices in the Philippines and the ASEAN Region.
A copy of the Company’s Manual can be accessed by clicking the links below:
Amended Manual on Corporate Governance
The Group’s governance framework and practices are codified in the Manual of AEV. These contain the Group’s plan to comply with the Organisation for Economic Cooperation and Development (OECD) principles on corporate governance, and are regularly reviewed and updated to ensure that these are at par with the best corporate governance practices in the Philippines and the ASEAN Region.
In 2018, the AEV Board approved the revised Manual to include the following changes:
- The use of professional search firm in searching for candidates to the Board;
- Requiring directors to notify the Board before accepting other directorships outside the Group;
- The option to use independent third-party to evaluate the fairness of RPTs, asset acquisition, and asset disposal;
- The availability of an alternative dispute resolution to resolve board and shareholder disputes; and
- Inclusion of the Group’s policies:
- Policy on Performance Assessment of the Board, Board Committees, and Senior Management; and
- Policy on Onboarding and Training Process.