Board Committees

The Board is collectively responsible for the long-term shareholder value of the institution. Its role is to approve, oversee and review the implementation of the Group’s business and strategic objectives, enterprise risk strategy and senior management performance to ensure the success of the Group and sustain its industry leading position.

It leads in establishing the tone and practices of good corporate governance at the top. It sets the Group’s corporate values and high ethical standards of business conduct for itself and all members of the Group. Through its oversight, monitoring and review functions, the Board ensures that the Group is being run in a sound and prudent manner on a going concern basis in order to fulfill its obligations to all majority and minority shareholders while upholding and protecting the interests of different constituencies.

1. Executive Committee

The Executive Committee shall be composed of the Chairman and CEO, the Treasurer, the Managing Directors of its subsidiaries.

The Executive Committee is empowered to exercise the powers of the Board in the management of the business and affairs of the Corporation except with respect to the approval of any action for which stockholders’ approval is also required.

Company-level executive committees meet at least once a month to discuss performance, forecasts, and key issues.

The group-wide executive committee is convened at least once a year to review overall Company plans and strategies.

EXECUTIVE COMMITTEE
Chief Executive Officer Raul Joseph Concepcion
Treasurer Renna H. Angeles
Managing Director, CCAC Raul Joseph Concepcion
Managing Director, CDI Raul Anthony Concepcion
NON-DIRECTOR MEMBERS
Business Development Officer Rafael C. Hechanova, Jr.
Chief Finance Officer Victoria A. Betita
Director, Building & Industrial Solutions Group, CCAC Rajan Komarasu
Director, Consumer Solutions Group, CCAC Harold Thomas Pernikar, Jr.
General Manager of Concepcion Midea Inc. Philippines Phillip F. Trapaga
Director, Manufacturing and Supply Chain Management, CCAC Alexander T. Villanueva

2. Corporate Governance & Audit Committee

The Corporate Governance and Audit Committee leads the Company in defining corporate governance policies and attaining best practices.

It oversees the implementation of the Company’s compliance programs and has a nomination function where it reviews and evaluates the qualification of individuals nominated to the Board.

It likewise oversees financial reporting and internal and external audit functions and performs direct interface functions with the internal and external auditors of the Company.

The Committee meets at least two times a year.

CORPORATE GOVERNANCE AND AUDIT COMMITTEE
Chairman (Independent Board Member) Melito Salazar
Board Member Raissa H. Posadas
Board Member Marie C. Young
Resources
CFO
Legal and Compliance

3. Compensation & Remuneration Committee

The Compensation and Remuneration Committee provides oversight on directors’ compensation and remuneration of senior management and other key personnel as it ensures consistency of the compensation policies and practices across the Group. The committee meets at least once a year and provides overall direction on the compensation and benefits strategy of the Company.

COMPENSATION AND REMUNERATION COMMITTEE
Chairman (Independent Board Member) Cesar Buenaventura
Board Member (Independent Board Member) Melito Salazar
Board Member Jose Ma Concepcion III
Resources
HR Director
CFO

4. Nominations Committee

The Nominations Committee formulates screening policies to enable the committee to effectively review the qualification of the nominees for independent directors; and conducts nominations for independent directors prior to the stockholders’ meeting in accordance with the procedures set forth in Rule 38.

NOMINATIONS COMMITTEE
Chairman Raul Joseph Concepcion
Board Member (Independent Board Member) Cesar Buenaventura
Board Member Renna H. Angeles