BOARD COMMITTEES
CORPORATE GOVERNANCE > BOARD COMMITTEES
The following are the committees that assist the Board in performing its duties and responsibilities, each guided by its respective Board approved Charter. Every committee is chaired by a Non-Executive Director or an Independent Advisor and always includes an Independent Advisor for impartiality in decision making and implementation of committee functions.
The Governance, Nomination, and Sustainability Committee ensures alignment of our governance framework with global and industry best practices, reviewing and recommending any changes or improvements to the Revised Manual on Corporate Governance to the Board. This committee also designs the onboarding program for new directors. It is likewise responsible for searching and recommending new directors of the Board as well as the members of the Board’s various committees, ensuring that their qualifications are a good fit for the Company’s needs and goals, reviewing the autonomy and impartiality of those to be appointed as Independent Advisors, and exercising the authority to utilize third-party executive talent acquisition firms or other external sources in this regard.
Governance, Nomination, and Sustainability Committee Composition:
Chairman: Roberto C. Yap, S.J.
Members:
- Jose Ma. K. Lim
- Francisco C. Sebastian
- Yoshitoshi Iwami
- Pedro O. Roxas
The Audit Committee provides oversight to the Company’s financial reports and internal controls, determining the function and scope of work of its internal auditor while ensuring that the work of its recommended external auditor, particularly its non-audit function, is entirely impartial and independent. This committee reviews and preapproves all audit services of our independent and external auditor, Sycip Gorres Velayo & Co. (SGV), before these services are performed, as well as the service payments to audits made in the last two years.
Audit Committee Composition:
Chairman: Pedro O. Roxas
Members:
- June Cheryl A. Cabal-Revilla
- Francisco C. Sebastian
- Yoshitoshi Iwami
- Artemio V. Panganiban
The Risk, Cybersecurity, and Data Privacy Committee oversees and executes our enterprise risk management policy, monitors our compliance with regulatory and ethical standards, and periodically reviews and assesses our risk exposure and the steps taken to manage such exposure. It also determines the strategic direction, policies, and procedures necessary to strengthen the security of Company data, information, and communication following the country’s laws on data privacy and cybersecurity. This committee also reviews and monitors the implementation of IT-related measures, given the rapid technological changes in this field.
Risk, Cybersecurity, and Data Privacy Committee Composition:
Chairman: Ray C. Espinosa
Members:
- Ramon S. Ang
- Yoshitoshi Iwami
- Artemio V. Panganiban
- Alfred V. Ty
The Compensation Committee oversees the compensation plan for all officers and employees of the Company, including its senior executives, setting policies and targets that drive performance, attract and recruit the best talents, and motivate management and senior leaders to work in the Company for the long-term. This committee is responsible for our succession plan for developing current and future leaders of the Company.
Compensation Committee Composition:
Chairman: Jose Ma. K. Lim
Members:
- Manuel V. Pangilinan
- Yoshitoshi Iwami
- Jose Arnulfo A. Veloso
- Pedro O. Roxas
The Finance Committee reviews critical financial and investment strategies, as well as capital allocation decisions and investment performances. It advises the Board on any proposals for mergers, acquisitions, and disposals. It also reviews plans for raising capital and the liquidity, loan covenant compliance, and liability management program of the Company and its subsidiaries, joint ventures, and associates.
Finance Committee Composition:
Chairman: Oscar J. Hilado
Members:
- Manuel V. Pangilinan
- June Cheryl A. Cabal-Revilla
- Francisco C. Sebastian
- Yoshitoshi Iwami
- Jose Arnulfo A. Veloso
- Artemio V. Panganiban

9th Floor, Tower 1
Rockwell Business Center
Ortigas Avenue
Brgy. Ugong, Pasig City 1604
Philippines
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