Board Remuneration

 

The Board’s remuneration is set at an optimum level to attract and retain high caliber directors who continuously and effectively deliver services. In accordance with the company’s By-Laws, the Board shall receive, pursuant to a resolution of the stockholders, fees and other compensation for their services as directors and members of committees of the Board of Directors. In accordance with our MCG and the Charter of the Board, no director participates in discussions or deliberations involving his/her own remuneration.

 

Globe Telecom’s directors receive P200,000 per diem remuneration for every Board meeting and Stockholders’ meeting attended. This rate was based on a benchmark study against industry rates as well as a previous study in 2010 to standardize the pay of Board of Directors across the Ayala Companies. The per diem remuneration of directors remains at P100,000 for every committee meeting attended or such meetings other than those mentioned above. Our stockholders ratified this resolution at our regular ASM in April 2014. Our directors, including the independent NEDs, do not receive options, performance shares or bonuses other than their per diem remuneration as directors. Meanwhile, our executive director does not receive per diem remuneration in addition to his remuneration as part of the Globe senior management in his role as the President and CEO.

 

The following NEDs, who were elected at the ASM on April 18, 2017 received gross per diem remuneration for attending Board and Committee meetings in 2017:


DIRECTOR GROSS PER DIEM REMUNERATION (IN PESOS)
Jaime Augusto Zobel de Ayala 2,400,000.00
Lang Tao Yih, Arthur* 2,000,000.00
Fernando Zobel de Ayala 1,800,000.00
Delfin L. Lazaro 1,500,000.00
Samba Natarajan 2,800,000.00
Jose Teodoro K. Limcaoco 2,400,000.00
Romeo L. Bernardo 2,700,000.00
Rex Ma. A. Mendoza 2,400,000.00
Manuel A. Pacis 2,500,000.00
Saw Phaik Hwa 2,500,000.00
Total 23,000,00.00
*Mr. Lang was elected Director on April 18, 2017

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