Board Structure/ People on the Board
People on the Board
Directorship
The Board of Directors has nine members, majority of whom are independent and/ or non-executive directors who possess the necessary qualifications to effectively participate and help secure objective, independent judgment on corporate affairs and to substantiate proper checks and balances.
For CHI, the board is composed of the following members:
- Non-executive Directors = 4
- Independent Directors = 3
- Executive Directors = 2
Chairman and President and CEO
Of the nine members of the Board, the president and the treasurer are executive directors. The rest are non-executive or independent directors who are neither officers nor consultants of the Company.
The current chairman of the Board is Anna Ma. Margarita B. Dy who assumed the position on April 24, 2017. As chairman, she acts as the legal representative of the Company and has the following roles and responsibilities properly assesses reports made by Management and assures Board performance is evaluated at least yearly.
The current president is Aniceto V. Bisnar, Jr. who assumed the position in January 2015. The former president was Francis O. Monera who retired from the Company as of December 31, 2014.
Corporate Objectives
The Board and management committee ensure that the Company achieves its objectives with the implementation of set strategies, maximizing efficiency of operations, exploring ways to grow the business, and ensuring the sustainability of the Company.
Shareholder Value Creation
Our Company seeks to consistently improve its business fundamentals and prospects to deliver increasing value to our shareholders’ investments. Our strategies, business models, and operating plans are all oriented towards achieving consistent progress in all aspects of the business and the value we create.
We focus on growth, profitability, return on equity, asset efficiency, and total shareholder return as key result areas for our management team on a corporate, divisional, and individual level. These form the basis of incentives such as management promotions, allocation of a performance-based cash bonus, and executive stock ownership plan grants.
Compliance Officer
Ma. Luisa D. Chiong is currently CHI’s Chief Financial Officer and Compliance Officer. She is not a member of the Board of Directors.
She ensures strict adherence to the Code of Corporate Governance and to the rules and regulations of regulatory agencies.
She is also responsible for reporting any violations to the Board.
To ensure stricter monitoring and timely compliance with regulations, we have also identified all regulatory requirements of our business operations and put in place an electronic monitoring system for compliance. The system covers all our units, including our business partners or contractors.