Oversight and Approval

It is the duty of the Board to oversee the business affairs of the Company and to exercise sound and objective judgment for its best interest. It relies on the CEO and other senior management in the competent and ethical operation of the Company on a day-to-day basis. Thus, it is the responsibility of the Board to monitor and oversee the performance of senior management in implementing the strategies, policies pertaining to major business activities and enterprise risks throughout the Group. The Board shall ensure that major plans of action, risk policy, annual budgets and business plans, and performance objectives and accountabilities are set to monitor implementation, measure corporate performance and take corrective action as needed pursuant to approved strategic objectives.

Oversight and Approval

It is the duty of the Board to oversee the business affairs of the Company and to exercise sound and objective judgment for its best interest. It relies on the CEO and other senior management in the competent and ethical operation of the Company on a day-to-day basis. Thus, it is the responsibility of the Board to monitor and oversee the performance of senior management in implementing the strategies, policies pertaining to major business activities and enterprise risks throughout the Group. The Board shall ensure that major plans of action, risk policy, annual budgets and business plans, and performance objectives and accountabilities are set to monitor implementation, measure corporate performance and take corrective action as needed pursuant to approved strategic objectives.

High Ethical Standards in Doing Business

Our corporate governance practice adheres to basic principles of integrity, transparency, fairness, accountability, and performance. It is the responsibility of the Board including the officers and staff to follow at all times the established governance policies and practices as these are put in place to protect the Company’s reputation, assets, and businesses. The Board shall ensure the company’s faithful compliance with all applicable laws, regulations, and best business practices including the timely and accurate submission of public disclosures, prudential, and supervisory reports to the relevant regulatory bodies.

High Ethical Standards in Doing Business

Our corporate governance practice adheres to basic principles of integrity, transparency, fairness, accountability, and performance. It is the responsibility of the Board including the officers and staff to follow at all times the established governance policies and practices as these are put in place to protect the Company’s reputation, assets, and businesses. The Board shall ensure the company’s faithful compliance with all applicable laws, regulations, and best business practices including the timely and accurate submission of public disclosures, prudential, and supervisory reports to the relevant regulatory bodies.

Annual Board and Executive Management Performance Evaluation

The Board, through the Corporate Governance Committee, shall undertake the evaluation of its performance as a collective body, its Committees and senior management to determine whether they are functioning effectively, pinpoint areas for improvement and ensure that the Chairman and CEO is providing effective leadership to the Group. The Committee shall report the results of the self-assessment to the Board. It shall likewise implement a process for the selection of Board members who can add value and meaningfully contribute independent judgment to the formulation of sound corporate strategies and policies.

Annual Board and Executive Management Performance Evaluation

The Board, through the Corporate Governance Committee, shall undertake the evaluation of its performance as a collective body, its Committees and senior management to determine whether they are functioning effectively, pinpoint areas for improvement and ensure that the Chairman and CEO is providing effective leadership to the Group. The Committee shall report the results of the self-assessment to the Board. It shall likewise implement a process for the selection of Board members who can add value and meaningfully contribute independent judgment to the formulation of sound corporate strategies and policies.

Directors’ Peer Evaluation

This is intended to encourage improved performance and effectiveness of directors by identifying areas that need improvement. Each director is requested to rate their colleagues on the Board using the prescribed rating scale and questions. The Corporate Governance Committee shall report also the results of the peer evaluations to the Board.

Directors’ Peer Evaluation

This is intended to encourage improved performance and effectiveness of directors by identifying areas that need improvement. Each director is requested to rate their colleagues on the Board using the prescribed rating scale and questions. The Corporate Governance Committee shall report also the results of the peer evaluations to the Board.

Management Succession Planning

The Board, in coordination with the Corporate Governance Committee, shall ensure that the Company has in place an appropriate and updated succession planning for key executives to address emergency in the event of extraordinary circumstances and ensure continuity of operations.

Management Succession Planning

The Board, in coordination with the Corporate Governance Committee, shall ensure that the Company has in place an appropriate and updated succession planning for key executives to address emergency in the event of extraordinary circumstances and ensure continuity of operations.

Board Composition

Board Composition

1. The Board of Directors of the Company shall be composed of eight (8) directors. The stockholders of the Company shall elect the members of the Board during the annual meeting in accordance with the Company’s articles of incorporation and by-laws.

2. The Board shall be composed of executive and on-executive directors, which include the independent directors. The company shall have two (2) independent directors or such numbers that would constitute at least twenty percent (20%) of the members of the Board, whichever is the lesser.

3. In accordance with Sec. 38 of Republic Act 8799 and SRC Rule 38, the Company shall appoint or elect independent directors who are free of material relations with the management, controllers, or others that might reasonably be expected to interfere withthe independent exercise of his/her best judgment for the exclusive interest of the Company. An independent director of a company may only serve as such for a total of five (5) consecutive years with a “cooling off” period of two years after which, he/she could be elected for another final 5-year term. Selection, nomination and election of independent directors shall be done in accordance with the standard lection procedures of the Company’s By-Laws and this Code. Read More

4. Selection of Board members. In evaluating the suitability of individual board members, the Board, through the Nominations Committee, should take into account the relevant qualifications of every candidate nominated for election such as among others, physical/ mental fitness, relevant educational and professional background, personal track record, diversity of related experience/ training, commitment to contribute, willingness to serve and interest to remain engaged and involved. For the re-election of incumbent directors, the Board should also consider the results of the most recent self assessment of the Board and peer evaluation, director’s attendance record in meetings, participation in Board activities and overall contribution to the functioning of the Board.

5. Tenure/Term Limits. Elected members of the Boardserve for a one-year term and until their successors are elected except for Independent directors’ limits as prescribed by SEC Memorandum Circular No. 9 (2011).

Board of Directors

Board of Directors

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

Executive Committee

Non-Director Members

Chairman

Raul Joseph Concepcion

Executive Vice President, Business Development & Marketing, CIC & CCAC

Rafael C. Hechanova, Jr.

Members

Renna C. Hechanova-Angeles

Chief Finance Officer

Victoria A. Betita

Raul Anthony A. Concepcion

Director and Division President of Alstra

Rajan Komarasu

Director and Division President of CCAC Consumer Lifestyle Solutions group

Harold Thomas Pernikar, Jr.

Director and Division President of CCAC Product Solutions Division

Alexander T. Villanueva

Division President of CBSI

Michael Eric Sarmiento​

Division President of CIC technology arm CORTEX Technologies

Shaun Byrne

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.

2. Corporate Governance and Nominations Committee

3. Compensation and Remuneration Committee

Chairman

Cesar A. Buenaventura (Independent Member)

Chairman

Cesar A. Buenaventura (Independent Member)

Members

Alfredo E. Pascual – (Independent Member)

Member)S

Alfredo E. Pascual – (Independent Member)​

Members

Alfredo E. Pascual – (Independent Member)

Members

Alfredo E. Pascual – (Independent Member)

Raul Joseph A. Concepcion

Jose Ma. A. Concepcion

Renna C. Hechanova-Angeles

The Corporate Governance and Nominations Committee shall assist the Board in the performance of its corporate governance responsibilities, ensuring compliance with and proper observance of corporate governance principles and practices. In terms of its nominations functions, it shall (1) formulate screening policies to enable the committee to effectively review the qualification of the nominees for directors and independent directors, and (2) conduct nominations for independent directors prior to the stockholders’ meeting in accordance with the procedures set forth in Rule 38 of the Amended Implementing Rules and Regulations of the SRC, as the same may be amended from time to time.

The Compensation and Remuneration Committee provides oversight on directors’ compensation and remuneration of senior management and other key personnel, ensuring that compensation scheme is consistent with the Company’s culture and strategy, effectively aligned with prudent risk taking and commensurate with corporate and individual performance. It also ensures consistency of the compensation policies and practices across the Group.

4. Audit and Risk Oversight Committee

5. Strategy and Investments Committee

Chairman

Alfredo E. Pascual – (Independent Member)

Chairman

Members

Cesar A. Buenaventura (Independent Member)

Members

Raissa C. Hechanova-Posadas

Ma. Victoria Hermina A. Concepcion-Young

Chairman

Alfredo E. Pascual – (Independent Member)

Members

Cesar A. Buenaventura (Independent Member)

Raissa C. Hechanova-Posadas

Ma. Victoria Hermina A. Concepcion-Young

The Audit and Risk Oversight Committee is responsible for overseeing senior management in establishing and maintaining an adequate, effective and efficient internal control framework, and that effective and adequate financial reporting, internal and external audit, monitoring and compliance systems and processes are established and maintained.

The Strategy and Investments Committee is responsible for assisting the Board in the effective discharge of its responsibilities concerning the Company’s investment policies and strategies, with emphasis on the following areas: (a) To review, assess and recommend to the Board the execution of major investments in new business opportunities within and outside of the Company’s core business and the mechanism and form for undertaking such ventures through means such as mergers, acquisitions, joint ventures or wholly-owned subsidiaries; and (b) To provide guidance to Management in the identification, consideration, review analysis and selection, negotiation.

Corporate Social Responsibility

CIC’s mission of  “Building better lives and business” continues to expand its meaning as we grow into a company that not only caters to home and business solutions but also to many new innovations that will help the home and the work-place indeed better. With this expansion, it is our goal to continue to expand our reach as an organization beyond customers and clients. In-line with our roots in community service and nation-building, it is CIC’s constant hope to reach further and touch the lives of the rest of our countrymen and women who are in need and it is throught these CSR efforts of our growing company that we achieve this goal. As a company, CIC recognizes its role and responsibility in the larger community.

Corporate Social Responsibility

CIC’s mission of  “Building better lives and business” continues to expand its meaning as we grow into a company that not only caters to home and business solutions but also to many new innovations that will help the home and the work-place indeed better. With this expansion, it is our goal to continue to expand our reach as an organization beyond customers and clients. In-line with our roots in community service and nation-building, it is CIC’s constant hope to reach further and touch the lives of the rest of our countrymen and women who are in need and it is throught these CSR efforts of our growing company that we achieve this goal. As a company, CIC recognizes its role and responsibility in the larger community.

Governance-Related Downloads​

  • Corporate Governance Manual I-ACGR
  • Company Policies

Governance-Related Downloads

Company Policies

Governance-Related Downloads​

  • Corporate Governance Manual I-ACGR
  • Board Committees
  • Company Policies
  • Minutes of Stockholders’ Meetings

Governance-Related Downloads

Governance-Related Downloads

Company Policies

Governance-Related Downloads

Oversight and Approval

It is the duty of the Board to oversee the business affairs of the Company and to exercise sound and objective judgment for its best interest. It relies on the CEO and other senior management in the competent and ethical operation of the Company on a day-to-day basis. Thus, it is the responsibility of the Board to monitor and oversee the performance of senior management in implementing the strategies, policies pertaining to major business activities and enterprise risks throughout the Group. The Board shall ensure that major plans of action, risk policy, annual budgets and business plans, and performance objectives and accountabilities are set to monitor implementation, measure corporate performance and take corrective action as needed pursuant to approved strategic objectives.

High Ethical Standards in Doing Business

Our corporate governance practice adheres to basic principles of integrity, transparency, fairness, accountability, and performance. It is the responsibility of the Board including the officers and staff to follow at all times the established governance policies and practices as these are put in place to protect the Company’s reputation, assets, and businesses. The Board shall ensure the company’s faithful compliance with all applicable laws, regulations, and best business practices including the timely and accurate submission of public disclosures, prudential, and supervisory reports to the relevant regulatory bodies.

Annual Board and Executive Management Performance Evaluation

The Board, through the Corporate Governance Committee, shall undertake the evaluation of its performance as a collective body, its Committees and senior management to determine whether they are functioning effectively, pinpoint areas for improvement and ensure that the President is providing effective leadership to the Group. The Committee shall report the results of the self-assessment to the Board. It shall likewise implement a process for the selection of Board members who can add value and meaningfully contribute independent judgment to the formulation of sound corporate strategies and policies.

Directors’ Peer Evaluation

This is intended to encourage improved performance and effectiveness of directors by identifying areas that need improvement. Each director is requested to rate their colleagues on the Board using the prescribed rating scale and questions. The Corporate Governance Committee shall report also the results of the peer evaluations to the Board.

Management Succession Planning

The Board, in coordination with the Corporate Governance Committee, shall ensure that the Company has in place an appropriate and updated succession planning for key executives to address emergency in the event of extraordinary circumstances and ensure continuity of operations.

BOARD COMPOSITION

1. The Board of Directors of the Company shall be composed of eight (8) directors. The stockholders of the Company shall elect the members of the Board during the annual meeting in accordance with the Company’s articles of incorporation and by-laws.

2. The Board shall be composed of executive and on-executive directors, which include the independent directors. The company shall have two (2) independent directors or such numbers that would constitute at least twenty percent (20%) of the members of the Board, whichever is the lesser.

3. In accordance with Sec. 38 of Republic Act 8799 and SRC Rule 38, the Company shall appoint or elect independent directors who are free of material relations with the management, controllers, or others that might reasonably be expected to interfere withthe independent exercise of his/her best judgment for the exclusive interest of the Company. An independent director of a company may only serve as such for a total of five (5) consecutive years with a “cooling off” period of two years after which, he/she could be elected for another final 5-year term. Selection, nomination and election of independent directors shall be done in accordance with the standard lection procedures of the Company’s By-Laws and this Code.
Read More

4. Selection of Board members. In evaluating the suitability of individual board members, the Board, through the Nominations Committee, should take into account the relevant qualifications of every candidate nominated for election such as among others, physical/ mental fitness, relevant educational and professional background, personal track record, diversity of related experience/ training, commitment to contribute, willingness to serve and interest to remain engaged and involved. For the re-election of incumbent directors, the Board should also consider the results of the most recent self assessment of the Board and peer evaluation, director’s attendance record in meetings, participation in Board activities and overall contribution to the functioning of the Board.

5. Tenure/Term Limits. Elected members of the Board serve for a one-year term and until their successors are elected except for Independent directors’ limits as prescribed by SEC Memorandum Circular No. 9 (2011).

BOARD OF DIRECTORS

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.j

1. Executive Committee

Executive Committee

Chief Executive Officer

Raul Joseph Concepcion

Treasurer

Renna C. Hechanova-Angeles

Managing Director, CCAC

Raul Joseph Concepcion

Managing Director, CDI

Raul Anthony Concepcion

Non-Director Members

Executive Vice President, Business Development & Marketing, CIC & CCAC

Rafael C. Hechanova, Jr.

Chief Finance Officer

Victoria A. Betita

Director and Division President of Alstra

Rajan Komarasu

Director and Division President of CCAC Consumer Lifestyle Solutions Group

Harold Thomas Pernikar, Jr.

Director and Division President of CCAC Product Solutions Division

Alexander T. Villanueva

Division President of CBSI

Michael Eric Sarmiento

Division President of CIC technology arm CORTEX Technologies

Shaun Byrne

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.

2. Corporate Governance and Audit Committee

Chairman (Independent Board Member)

Alfredo Pascual

Board Member

Raissa H. Posadas

Board Member

Marie C. Young

Resources

CFO

Legal and Compliance

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.

3. Compensation and Remuneration Committee

Chairman (Independent Board Member)

Cesar Buenaventura

Chairman (Independent Board Member)

Alfredo Pascual

Chairman (Independent Board Member)

Jose Ma. Concepcion III

Resources

HR Director

CFO

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.

4. Nominations Committee

Chairman

Jose Ma. Concepcion III

Board Member (Independent Board Member)

Cesar Buenaventura

Board Member

Renna H. Angeles

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.

Corporate Social Responsibility

CIC’s mission of  “Building better lives and business” continues to expand its meaning as we grow into a company that not only caters to home and business solutions but also to many new innovations that will help the home and the work-place indeed better. With this expansion, it is our goal to continue to expand our reach as an organization beyond customers and clients. In-line with our roots in community service and nation-building, it is CIC’s constant hope to reach further and touch the lives of the rest of our countrymen and women who are in need and it is throught these CSR efforts of our growing company that we achieve this goal. As a company, CIC recognizes its role and responsibility in the larger community.

GOVERNANCE-RELATED DOWNLOADS

  • Corporate Governance
    Manual I-ACGR
  • Company Policies

Governance-Related Downloads

Company Policies

GOVERNANCE-RELATED DOWNLOADS

  • Corporate Governance Manual I-ACGR
  • Board Committees
  • Company Policies
  • Minutes of Stockholders’ Meetings

Governance-Related Downloads

Governance-Related Downloads

Company Policies

Governance-Related Downloads