Board Performance

Our Board of Directors, together with management, fully understand that the corporate governance proactive culture begins with leaders of the company.

View/download the Board’s Self-Assessment Questionnaire here.

 

Apart from compliance with internal policies and procedures, the Board of Directors performs an annual self-assessment exercise to assess their individual and collective performance as well as their co-directors’ and Management’s. The self-assessment exercise, through a self-assessment questionnaire, is given to each director to ensure the effectiveness of their governance, to reflect on the performance of top management including the President and CEO, to highlight specific strengths, and to identify areas of improvement. It also provides a venue for the Board members to identify priorities for the Board and the company for the succeeding year. The assessment is comprised of appraisal of the Board, of individual directors, of the different Board Committees, the Management and of the Chairman of the Board. The questionnaire covers a thorough evaluation criteria focused on structure, efficiency, and effectiveness of the Board, participation and engagement of each Board member, contribution of each Board member to their respective Committees as well as the performance of Management and the Chairman of the Board. The criteria also reflect the specific duties, responsibilities, and accountabilities of each Board member assessed in line with Globe By-Laws, MCG, Charters and governing policies.

 

The self-assessment exercise is facilitated by our Chief Compliance Officer. Every three years, the assessment shall also be supported by an external facilitator selected for this purpose. An annual executive session also takes place dedicated to evaluating and discussing matters concerning the Board, including evaluating the company’s performance and an independent review of its management team. 

 

There is likewise an annual strategy workshop held at the beginning of the year to discuss the strategic direction of the Company for the entire year. Meanwhile, our NEDs met separately in November 2017, without our executive director and anyone from Management. Among topics discussed were the role of NEDs in the Company, Management performance on Globe objectives and strategies and goals, effectiveness of risk management, integrity of governance policies and procedures and adequacy of internal controls.

To execute their roles well, training on CG is given to directors prior to assuming office. This is also institutionalized in our MCG. The Board, together with the key officers, also actively attend training programs annually to keep abreast of updates in CG standards and relevant discussions to support their leadership roles in Globe Telecom that cover issues and relevant market trends, new laws and regulations that can affect the business, sustainability and CG, among others.

 

Our directors and key officers attended various CG seminars conducted by SEC-accredited CG training providers during the year. On August 11, 2017, members of the Board and key officers participated in the CG and Risk Management Summit conducted by the Ayala Group in collaboration with the Institute of Corporate Directors (ICD) in compliance with the SEC directive for all key officers and members of the Board of publicly-listed companies to attend a program on CG. An in-house CG seminar was also conducted by Risks, Opportunities, Assessment and Management (ROAM) on October 10, 2017 that was attended by a couple of our directors. Discussions on topics during these seminars included the SEC’s integrated Annual Corporate Governance Report (i-ACGR), the SEC’s Code of CG, global and regional CG trends for the year, cybercrime, cyber rights and data privacy, among others. These seminars also provide a venue for directors and key officers to learn about other CG cases relevant to Globe Telecom's business.

 

The attendance of our Board and key officers to the CG training programs and seminars are properly and timely disclosed to the SEC, PSE, PDEx, and can be found in the 2017 table of our ACGR page.

 

Events, collaborations and partnerships such as these, within the conglomerate, manifest the stronghold of CG in the business’ governance framework. It is crucial to sustain this for the long term such that all members of the Globe community, its partners and stakeholders are able to benefit from the initiatives and thrust of the CG culture.

Board of Directors

  • Jaime Augusto Zobel de Ayala

    CHAIRMAN

  • Fernando Zobel de Ayala

    CO-VICE CHAIRMAN

  • Lang Tao Yih, Arthur

    CO-VICE CHAIRMAN

  • Ernest L. Cu

    DIRECTOR, PRESIDENT AND CEO

  • Delfin L. Lazaro

    DIRECTOR

  • Samba Natarajan

    DIRECTOR

  • Romeo L. Bernardo

    DIRECTOR

  • Jose Teodoro K. Limcaoco

    DIRECTOR

  • Rex Ma. A. Mendoza

    LEAD INDEPENDENT DIRECTOR

  • Cirilo P. Noel

    INDEPENDENT DIRECTOR

  • Saw Phaik Hwa

    INDEPENDENT DIRECTOR

Committed to Creating More Value for Shareholders