Board of Directors

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.

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

Below are the Members of the Board  for 2019-2020:

 

To view the previous Members of the Board, please click here.

Board Committees

The Company has five 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 and Board Corporate Governance Committee Charter.

Below are the members of the Board Corporate Governance Committee for 2019-2020:

 

Raphael P.M. Lotilla

Chairman (Independent Director)

Mikel A. Aboitiz

Director (Non-Executive)

Justice Jose C. Vitug (Ret.)

Independent Director

Enrique M. Aboitiz

Director (Non-Executive)

Manuel R. Salak III

Independent Director

Manuel Alberto R. Colayco

Ex-officio member

Susan V. Valdez

Ex-officio member

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.

Please click here to view the Company’s Internal Audit Charter.

Below are the members of the Board Audit Committee for 2019-2020:

Justice Jose C. Vitug (Ret.)

Chairman (Independent Director)

Raphael P.M. Lotilla

Independent Director

Manuel R. Salak III

Independent Director

Mikel A. Aboitiz

Director (Non-Executive)

Enrique M. Aboitiz

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 2019-2020:

 

Enrique M. Aboitiz

Chairman (Non-executive)

Erramon I. Aboitiz

Director (Executive)

Mikel A. Aboitiz

Director (Non-Executive)

Sabin M. Aboitiz

Director (Executive)

Raphael P.M. Lotilla

Independent Director

Manuel R. Salak III

Independent Director

Justice Jose C. Vitug (Ret.)

Independent Director

David Jude L. Sta. Ana

Ex-officio member

Manuel R. Lozano

Ex-officio Member

Annacel A. Natividad

Ex-officio member

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 2019-2020:

Manuel R. Salak III

Chairman (Independent Director)

Raphael P.M. Lotilla

Independent Director

Justice Jose C. Vitug (Ret.)

Independent Director

Executive Committee

The Board of Directors hereby constitutes the Committee to assist the Board of Directors in overseeing the Company’s day-to-day operations. This will ensure agility in the management of the Company and in strategic decision-making, as well as compliance with the Company’s governance policies, during the intervening period between Board meetings.

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

 

Erramon I. Aboitiz

Chairman (Executive)

Mikel A. Aboitiz

Director (Non-Executive)

Enrique M. Aboitiz

Director (Non-Executive)

Sabin M. Aboitiz

Director (Executive)

Edwin R. Bautista

Director (Non-Executive)

To view the previous members of the committee, please click here.

President and Chief Executive Officer

Mr. Erramon I. Aboitiz, 62 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, member of the Board Risk and Reputation Management Committee since May 18, 2015, and Chairman of the Board Executive Committee since May 21, 2018. Mr. Aboitiz was the Executive Vice President and Chief Operating Officer of AEV 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), Aboitiz Land, Inc.(AboitizLand), San Fernando Electric Light & Power Co., Inc. (SFELAPCO), the SN Aboitiz Power Group, Therma Power, Inc., CRH Aboitiz Holdings, Inc. (CRH Aboitiz), and Aboitiz Renewables, Inc.

Vice Chairman

Republic Cement & Building Materials, Inc. (RCBM), and of Union Bank of the Philippines (UnionBank), a publicly-listed company.

Director

Aboitiz Power Corporation and Philippine Disaster Recovery Foundation.

Mr. Aboitiz was awarded the Management Association of the Philippines Management Man of the Year and Ernst & Young’s Entrepreneur of the Year both in 2011. Mr. Aboitiz earned a Bachelor of Science degree in Business Administration Major in Accounting and Finance, from Gonzaga University, Spokane, Washington, U.S.A. He was also conferred an Honorary Doctorate Degree in Management by the Asian Institute of Management.

He is not connected with any government agency or instrumentality.

Chief Financial Officer

Mr. Manuel R. Lozano, 48 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 is currently Senior Vice President – Finance of ACO, and treasurer of Aboitiz Construction, Inc. (ACI); trustee and treasurer of Aboitiz Foundation; Chief Financial Officer and treasurer of Apo Agua; Chairman of the Board and Chief Executive Officer of Lima Water Corporation; Director, treasurer/Chief Financial Officer of Aboitiz InfraCapital; director and Vice President of AEV Aviation; director and treasurer of AEV CRH, CFO/treasurer of Archipelago Insurance; Director of PANC, Pilmico, RCBM, UnionBank, a publicly-listed company; and alternate director of AEV International, Pilmico International Pte. Ltd. (Pilmico International) and AboitizPower International.

Mr. Lozano was First Vice President and Chief Financial Officer/Corporate Information Officer of AboitizPower, a publicly-listed company, from 2014 to 2015; and was First Vice President – Chief Financial Officer of AboitizPower Generation from 2008 to 2013.

 

Mr. Lozano likewise holds the following positions and directorships:

Position

Company

Chairman

Lima water Corporation

Treasurer

Aboitiz & Co., Inc., Aboitiz Construction International, Inc., PETNET, Aboitiz Foundation, Inc., Apo Agua,

Trustee

Aboitiz Foundation, Inc.

Director

AEV Av, AEV CRH, AEV International, Archipelago Insurance, PANC, Pilmico, RCBM, UnionBank; and alternate director of Pilmico International Pte. Ltd., and AboitizPower International.

Before joining 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 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. He also held various positions in financial institutions including Jardine Fleming & CLSA.

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.

Corporate Secretary and Chief Compliance Officer

Mr. Manuel Alberto R. Colayco, 49 years old, Filipino, was appointed as AEV’s Corporate Secretary and Chief Compliance Officer on March 1, 2018. He is concurrently the First Vice President and Chief Legal Officer of AEV since July 11, 2016, and Corporate Secretary of AboitizPower, a publicly-listed company, since March 1, 2018.

Mr. Colayco has practiced in the areas of corporate law, mergers and acquisitions, joint ventures, securities regulation, corporate and financial restructuring, and litigation. Prior to joining the Aboitiz Group, Mr. Colayco acted as an independent legal consultant providing professional advice, representation, and transactional assistance to private companies and individuals. His previous work experience includes: General Counsel for AGP International Holdings Ltd. and Atlantic, Gulf & Pacific Company of Manila, Inc. from August 2013 to December 2014; Executive Director and Assistant General Counsel of J.P. Morgan Chase Bank N.A. from July 2010 to August 2013; and Vice President and Legal Counsel of DKR Oasis (Hong Kong) LLC, a private investment management firm, from August 2007 until March 2010.  He was an Associate at Skadden, Arps, Slate, Meagher & Flom, LLP from 2000 to 2007, and at Romulo Mabanta Buenaventura Sayoc & De Los Angeles from 1996 to 2000.

Mr. Colayco earned his undergraduate and Juris Doctor degrees from the Ateneo de Manila University. He also has a Master of Laws degree from the New York University School of Law, U.S.A. He is not connected with any government agency or instrumentality. He is also not a director of any publicly-listed company.

Business Unit Heads

Business Unit Heads for the year 2019 to 2020.

Business Unit Heads for the year 2018 to 2019.

 

Business Unit Heads for the year 2017 to 2018.

 

Board Secretariat
 The following are the present membership of the Board Secretariat Team:
BOD-550x550pxl-Manuel-Alberto-R.Colayco

MANUAL ALBERTO R. COLAYCO

SVP - Chief Legal Officer/ Corporate Secretary/Chief Compliance Officer
Mailene-dela-Torre

MAILENE M. de la Torre

Assistant Vice-President/Assistant Corporate Secretary
Sammy-Dave-Santos

SAMMY DAVE A. SANTOS

Assistant Corporate Secretary
Justine-Cabatingan

JUSTINE MAE M. CABATINGAN

Associate General Counsel
Tamara-Plenos

TAMARA NIÑA O. PLEÑOS

Paralegal
Marinel-Mangubat

MARINEL E. MANGUBAT

Paralegal