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 Environmental, Social and Corporate Governance Committee are laid down in the Manual of Corporate Governance and Board Charter.

Below are the Members of the Board  for 2023-2024:

Enrique M. Aboitiz

Chairman of the Board (Non-Executive)

Mikel A. Aboitiz

Vice-Chairman

Erramon I. Aboitiz

Director (Non-Executive)

Sabin M. Aboitiz

Director (Executive)

Cesar G. Romero

Lead Independent Director

Joanne de Asis

Independent Director

Peter D. Maquera

Independent Director

Please click here to view the profiles of the Board of Directors. You may also click here to view the members from the previous years.

Board Committees

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

 

BOARD ENVIRONMENTAL, SOCIAL AND CORPORATE GOVERNANCE COMMITTEE

 

The Board’s ability to make decisions with governance impact is supported by the work of the Board Environmental, Social, and Corporate Governance Committee. The Board Environmental, Social, and 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 Environmental, Social, and Corporate Governance Committee are laid down in the Manual of Corporate Governance and Board Environmental, Social, and Corporate Governance Committee Charter.

 

Below are the members of the Board Environmental, Social, and Corporate Governance Committee for 2023-2024:

 

Cesar G. Romero

Chairman (Independent Director)

Joanne de Asis

Independent Director

Enrique M. Aboitiz

Director (Non-Executive)

Sabin M. Aboitiz

Director (Executive)

Peter D. Maquera

Independent Director

Connie G. Chu

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 2023-2024:

 

Cesar G. Romero

Chairman (Independent Director)

Joanne de Asis

Independent Director

Erramon I. Aboitiz

Director (Non-Executive)

Ana Maria Aboitiz – Delgado

Director (Non-Executive)

Peter D. Maquera

Independent Director

 

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 2023-2024:

 

Erramon I. Aboitiz

Director (Chairman)

Sabin M. Aboitiz

Director (Executive)

Joanne de Asis

Independent Director

Cesar G. Romero

Independent Director

Peter D. Maquera

Independent Director

Jose Emmanuel U. Hilado

Ex-officio Member

Samel A. Aboitiz

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 Committee Charter and RPT Policy.

 

Below are the members of the Board Related Party Transactions Committee for 2023-2024:

 

Joanne de Asis

Chairman (Independent Director)

Peter D. Maquera

Independent Director

Cesar G. Romero

Independent Director

Board Cyber & Information Security Committee

 

The purpose of the Board  Cyber & Information Security Committee is to carry out the responsibilities delegated by the Board of the Company in relation to its duty to provide strategic direction and ensure the establishment of a system of governance (processes, policies, controls, and management) for the Company and its Strategic Business Units (“SBU”, collectively the “Aboitiz Group’) on matters relating to information security and cybersecurity.

 

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

 

Below are the members of the Board Cyber & Information Security Committee for 2023-2024:

 

JUSTO A. ORTIZ

Chairman (Non-Executive)

Joanne de Asis

Independent Director

Enrique M. Aboitiz

Director (Non-Executive)

Peter D. Maquera

Independent Director

Jose Emmanuel U. Hilado

Ex-Officio Member

Charmaine R.A. Valmonte

Ex-Officio Member

 

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.

 

Below are the members of the Executive Committee for 2023-2024.

Erramon I. Aboitiz

Member (Non-Executive)

Mikel A. Aboitiz

Director (Non-Executive)

Enrique M. Aboitiz

Director (Non-Executive)

Justo A. Ortiz

Director (Non-Executive)

Jose Emmanuel U. Hilado

Ex-Officio Member

Christopher P. Beshouri

Ex-Officio Member

President and Chief Executive Officer

SABIN M. ABOITIZ
President and Chief Executive Officer
Executive Director

 

Age: 57
Citizenship: Filipino
Date of First Appointment: May 21, 2018
Tenure: 4 years

 

Committee Memberships:

Chairman  – Board Executive Committee
Member    – Board Environmental, Social, and Corporate Governance Committee
– Board Risk and Reputation Management Committee

 

Present Positions:

  • Director/President and Chief Executive Officer – Aboitiz Equity Ventures Inc.*
  • Chairman of the Board – Aboitiz Power Corporation*, Aboitiz Foundation, Inc., Aboitiz Infracapital, Inc., Aboitiz Land, Inc., CRH Aboitiz Holdings, Inc., Filagri Holdings, Inc., Manila-Oslo Renewable Enterprise, Inc., Republic Cement Services, Inc., SN Aboitiz Power – Benguet, Inc.
  • Director/President and Chief Executive Officer – Aboitiz & Company, Inc.*
  • Chairman/Director/President and Chief Executive Officer – Aboitiz Renewables, Inc.
  • Director/President – AEV CRH Holdings, Inc.
  • Director – Aboitiz Construction International, Inc., Aboitiz Construction, Inc., AboitizPower International Pte. Ltd., AEV International Pte Ltd., Apo Agua Infrastructura, Inc., Lima Land, Inc., Pilmico Animal Nutrition Corporation, Pilmico Foods Corporation, Pilmico International Pte Ltd, Republic Cement & Building Materials, Inc., Therma Luzon, Inc., Therma South, Inc., Unity Digital Infrastructure Inc., Union Bank of the Philippines, Inc., and UnionDigital Bank, Inc.

 

Previous Positions:

  • Executive Vice President and Chief Operating Officer – Aboitiz Equity Ventures Inc.* (2015 – 2019)
  • Senior Vice President – Aboitiz Equity Ventures Inc.* (2015)
  • First Vice President – Aboitiz Equity Ventures Inc.* (2014 – 2015)

 

Educational and Professional Background:

  • Bachelor of Science Degree in Business Administration, Major in Finance from Gonzaga University, Spokane, U.S.A

 

Mr. Aboitiz is not connected with any government agency or instrumentality.

Chief Financial Officer

Mr. Jose Emmanuel U. Hilado is the Company’s Senior Vice President, Chief Financial Officer and Corporate Information Officer effective January 1, 2023 replacing Mr. Manuel R. Lozano.

 

Mr. Hilado, Filipino, 58 years old, has more than 30 years of banking experience behind him and has held various positions in Treasury, Trading, Investments, Correspondent Banking, Bank Operations, Human Resources, and Purchasing. He was also a Director of the UnionBank’s subsidiaries – UBP Investments Corporation and First Union Plans, Inc.

 

Prior to joining UnionBank, he was the Senior Executive Vice President and Chief Operating Officer of East West Bank Corporation, a publicly listed company. He was also the Treasurer of Rizal Commercial Banking Corporation for 6 years and Chief Trader at Banco De Oro Unibank (“BDO”) for 4 years, both publicly listed companies. He also held positions in International Business Development of Far East Bank & Trust Company and in Treasury Trading of Equitable PCI Bank. While at BDO, he was also the Treasurer of BDO Private Bank for 3 years.

 

He is currently a member of various industry-related associations such as the Bankers Association of the Philippines’ Open Market Committee, Financial Executive Institute of the Philippines (FINEX), Money Market Association and ACI Philippines. He was a member of the Philippine Interpretations Committee (PIC) representing industry from 2014 to 2020. He was also President of ACI Philippines from 2002 to 2006 and was its Director in 2004. ACI Philippines is a business organization for financial market professionals involved in foreign exchange, fixed income, and derivatives markets.

He obtained his Bachelor of Science degree in Business Economics at the University of the Philippines, and his MBA degree at Kellogg-Hong Kong University of
Science and Technology. He is also a Certified Treasury Professional from the BAP-Ateneo Graduate School.

Corporate Secretary and Chief Compliance Officer

Ms. Connie G. Chu was appointed as the Company’s Senior Vice President – Chief Legal and Compliance Officer / Corporate Secretary effective July 15, 2023. She has more than 20 years of legal experience in the areas of regulatory compliance, corporate governance, capital markets, finance, and mergers and acquisitions in various industries in multiple jurisdictions in Asia and the US.

 

Prior to joining the Aboitiz Group, Ms. Chu provided legal advice, representation, and transactional assistance to governments, state-owned enterprises, and private and public companies. She was a registered foreign lawyer at Cleary Gottlieb Steen & Hamilton in New York then Hong Kong from 2008 to 2022 and an associate at Romulo Mabanta Buenaventura Sayoc & De Los Angeles from 2003 to 2007.

 

Ms. Chu obtained her Master in Corporate Laws degree with distinction from the New York University School of Law, U.S.A, and a juris doctor degree with high honors (Class Salutatorian) from the Ateneo de Manila University. She graduated magna cum laude with an undergraduate degree in Political Science from the University of San Carlos. She was a bar topnotcher, ranking 2nd in the 2002 Philippine Bar Exams.

 

Ms. Chu is a member in good standing of the Integrated Bar of the Philippines and the New York State Bar.  She is not connected with any government agency or instrumentality. She is also not a director of any publicly listed company.

Business Unit Heads

Business Unit Heads for the year 2023 to 2024.

Board Secretariat
 The following are the present membership of the Board Secretariat Team:
Atty.-Connie-G.-Chu

CONNIE G. CHU

SVP - Chief Legal Officer/ Corporate Secretary/Chief Compliance Officer
Atty.-Mailene-de-la-Torre

MAILENE M. de la Torre

Vice-President/Assistant Corporate Secretary
Atty.-Sammy-Dave-A.-Santos

SAMMY DAVE A. SANTOS

Assistant Corporate Secretary