Governance Structure

The authority, accountability, and responsibility to steer the course of the company are vested in the following decision-making bodies below. However, utmost consultation and collaboration are fostered in assessing and deciding on issues material for the company.

Management Approach on Corporate Governance

The FPH management’s approach to corporate governance is guided by the Lopez values, adherence to the SEC’s issuances on governance, respect for human rights, and our commitment to environmental, social, and governance (ESG) safeguards principles. Our structure, policies, programs, and protocols ensure:

Full compliance with local regulations and international conventions signed by the country and relevant to our operations;
Balanced emphasis on financial and non-financial aspects of the company’s business strategy, operations, and performance to achieve both short- and long- term goals;
Creation of an environment that will protect the rights and allow equal treatment of all stakeholders;
Sufficient controls that ensure effective management oversight within a culture of honesty and accountability throughout the organization; and
Robust stakeholder engagement inclusive of timely disclosure of relevant information and the installation of necessary feedback mechanisms.

Our Corporate Policies and Guidelines

FPH decisions and operations are guided by 15 guard rails, which were presented in last year’s report. The summary of the policy statements are found in Annex 5.

The policies:

Manual for Corporate Governance
Environment, Safety, and Health Policy
Anti-Bribery and Corruption Policy
Board Diversity Policy
Conflicts of Interest Policy
Disclosure and Trading Policy
Loan Prohibition Policy
Material Related-Party Transactions Policy
Whistleblower Policy
Corporate Sustainability Policy
Human Rights Policy
Gender Equality and Diversity Policy
Responsible Asset Protection Policy
Cultural Heritage and Indigenous Peoples Policy 15. Corporate Social Responsibility Policy

There are no new policies issued in 2020 but during the reporting period, the company developed the guidelines for the remaining policies wanting of detailed parameters for implementation. These include four new social safeguards policies. The guidelines will aid the officers and employees in fulfilling their obligations to their co-employees and external stakeholders. The guidelines cover all units of FPH, inclusive of all its subsidiaries where it has management and operational control. They apply to all employees regardless of rank, consultants, contract personnel, and other co-creators within the company’s administration. Further, the guidelines cover all locations where they perform their jobs or services out of official business or related tasks for the Company. Below is their respective scope:

Scope	Content
1. Human Rights Objective: To promote respect for human rights in the conduct of the business and provide access to remedy when these rights are adversely affected.	Governance Human rights due diligence Human rights impact assessment Mitigation and management of human rights impacts Monitoring of human rights performance Communication and reporting Stakeholder engagement and grievance redress mechanism
2. Gender Equality and Diversity (GED) Objective: To incorporate gender equality and diversity in business operations to realize the full potential of employees and stakeholders and for a more inclusive society.	Governance Domains of GED in company operations Gender balance in the workforce GED in Ieadership GED in community and stakeholder engagement GED in the supply chain
3. Cultural Heritage and Indigenous Peoples (IP) Objective: To recognize the Indigenous Peoples (IP) as valuable partners in FPH operations and contribute to the preservation and enrichment of the country’s national heritage and diversity.	Governance Coverage of cultural heritage Respect for cultural heritage and IP in company operations Project planning Consultation Cultural impact assessment IP as intangible heritage Free and prior informed consent Grievance redress mechanism Monitoring of respect for IP rights
4. Responsible Asset Protection Objective: To preserve assets, including people, and resources with responsibility and respect for the human rights of individuals and communities	Stakeholder engagement Risk assessment Interaction with public security forces Interactions with private security forces

Governance Controls

For the past two years, FPH has focused on formally establishing the mechanisms to install the human rights policy and guidelines in line with its Lopez value of social justice. While respect for human rights underpins all that we do, such responsibility to the officers and employees is balanced by their obligation to protect the company’s assets and reputation. In addition to the adherence to the Lopez value of integrity, our policies and protocols provide good doctrines to live by. As proof, to date, there has been no report or any act of corruption or bribery involving the organization or its members. The procedures are discussed below.

FPH’s Code of Conduct and Manual for Corporate Governance, as well as related issuances, require directors, officers, and employees to observe high standards of business and personal ethics in the conduct of their duties and responsibilities. As employees and representatives of the company, its directors, officers, and employees are expected to practice honesty and integrity in fulfilling their responsibilities to comply with all applicable laws and regulations.

To operationalize and ensure that there is compliance with the commitment against any kind of malfeasance, the on-boarding of new employees includes an introduction to its governance policies. The Employee Code of Discipline severely penalizes acts of bribery and corruption. To confirm that there is compliance, the management’s Internal Audit, together with the Board’s Audit Committee, reviews the financial reporting process, its systems of internal controls, audit processes, and the monitoring of compliance with applicable laws, rules, and regulations, A certification to this effect is issued annually.

The company has a Compliance Officer with the rank of Senior Vice President. Among his duties is to review, evaluate, and ensure compliance by the company, its officers, and directors with the relevant laws, the Manual for Corporate Governance, rules and regulations, and all governance issuances of regulatory agencies.

In addition, the Conflicts of Interest Policy and the Material Related Party Transactions Policy Committee work together to safeguard that only arm’s length transactions beneficial to the company are entered into.

To help ensure that any non-compliance is uncovered, the company has in place a Whistleblowing Policy. No director, officer, employee, or any person, who, in good faith, reports a violation of the Code of Conduct and/or the Manual for Corporate Governance shall suffer harassment, retaliation, or any adverse employment consequence.

In further support of these efforts, the Internal Audit Group has circulated to all officers and employees the Whistleblower Policy Guidelines and Procedures last September 20, 2019. These are primarily aimed at guiding officers and employees in reporting behavior deemed unethical or unlawful.

Board Committees

Executive Committee

The Executive Committee is provided for in the Company’s By-laws. It is composed of five members of the Board to exercise the powers of the Board of Directors in between meetings. Its powers involve the management and direction of the affairs of the Corporation in all cases in which specific direction has not been given by the Board. As such, all actions taken by the Executive Committee are reported to the Board at the next succeeding meeting for ratification, or revision, when necessary.

Chairman: Mr. Oscar M. Lopez

Vice Chairman: Mr. Federico R. Lopez

Members:

Amb. Manuel M. Lopez

Mr. Augusto Almeda-Lopez Mr. Francis Giles B. Puno

Audit Committee

The Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities for management and financial reporting processes, the system of internal controls, and the maintenance of an effective audit process, as well as the process for monitoring compliance with the Corporate Code of Conduct and Ethics.

Chairman: Mr. Juan B. Santos

Members:

Amb. Manuel M. Lopez

Mr. Augusto Almeda-Lopez Mr. Stephen T. CuUnjieng Mr. Peter D. Garrucho, Jr. Mr. Elpidio L. Ibañez

Ms. Rizalina G. Mantaring

Board Risk Oversight Committee

The Board Risk Oversight Committee assists the Board of Directors in ensuring that there is an effective and integrated risk management process in place. The Committee is responsible for the oversight of the Company’s Enterprise Risk Management (ERM) system to ensure its functionality and effectiveness.

Chairman: Chief Justice Artemio V. Panganiban

Members:

Mr. Stephen T. CuUnjieng

Amb. Manuel M. Lopez

Mr. Peter D. Garrucho, Jr.

Ms. Rizalina G. Mantaring

Mr. Francis Giles B. Puno

Com. Anita B. Quitain

Mr. Ernesto B. Rufino, Jr.

Corporate Governance Committee

The Corporate Governance Committee shall have the principal function of selecting directors and passing upon their qualifications. It shall also ensure that Board elections provide a mix of proficient directors, each of whom can add value and bring prudent judgment in the decision-making process.

Chairman: Mr. Oscar M. Lopez

Vice Chairman: Mr. Federico R. Lopez

Members:

Mr. Stephen T. CuUnjieng

Amb. Manuel M. Lopez

Mr. Elpidio L. Ibañez

Mr. Juan B. Santos

Compensation and Remuneration Committee

To promote a culture that supports enterprise and innovation, the Board of Directors, through its Compensation and Remuneration Committee, is empowered to determine appropriate short-term and long-term performance-related rewards that are fair and achievable in motivating the management and employees.

Chairman: Mr. Augusto Almeda-Lopez

Members:

Mr. Peter D. Garrucho, Jr.

Mr. Eugenio L. Lopez III*

Mr. Miguel Ernesto L. Lopez*

Mr. Juan B. Santos

Finance and Investment Committee

The Finance and Investment Committee shall review and recommend investment objectives, policies, and strategies, as well as recommend major fundraising activities. It shall also review and recommend major capital expenditures, investment, or divestment opportunities.

Chairman: Mr. Federico R. Lopez

Members:

Mr. Peter D. Garrucho, Jr.

Mr. Eugenio L. Lopez III*

Mr. Miguel Ernesto L. Lopez*

Mr. Ernesto B. Rufino, Jr.

Mr. Francis Giles B. Puno

Mr. Richard B. Tantoco

* Mr. Eugenio L. Lopez III resigned from the Board effective October 1, 2020.

Mr. Miguel Ernesto L. Lopez filled the vacated seat upon his election to the Board on October 1, 2020.

Related Party Transaction Committee

The Related Party Transactions Committee shall assist the Board of Directors in fulfilling its oversight responsibilities in furtherance of good corporate governance and ensure the protection of minority investors, and in monitoring compliance with the Material Related Party Transactions Policy.

Chairman: Mr. Stephen T. CuUnjieng

Members:

Mr. Juan B. Santos

Mr. Peter D. Garrucho, Jr.

Ms. Rizalina G. Mantaring

Mr. Elpidio L. Ibañez

Pursuant to the Manual for Corporate Governance, the Board has formed standing committees, namely:

Executive Committee
Corporate Governance Committee
Compensation and Remuneration Committee • Audit Committee
Related-Party Transactions (RPT) Committee • Finance and Investment Committee
Board Risk Oversight Committee
Related Party Transaction Committee

FPH also has an Internal Audit Group (IAG) composed of Certified Public Accountants (CPA) and Certified Internal Auditors (CIA), among others. The IAG reports to the Board through the Audit Committee, which in turn determines the adequacy of the Company’s internal controls, integrity in financial reporting, and process for monitoring compliance with the Corporate Code of Conduct and Ethics. The IAG provides assurance and consulting functions for FPH and its subsidiaries in the areas of internal control, corporate governance, and risk management. It conducts its internal audit activities in accordance with the International Standards for the Professional Practice of Internal Auditing (ISPPIA), which is under the International Professional Practices Framework (IPPF), as promulgated by the Institute of Internal Auditors (IIA). There are two Board Committees overseeing compliance requirements, namely, the Audit Committee and the Board Risk Oversight Committee, apart from the general oversight exercised by the Board and Senior Management.

The Audit, Board Risk Oversight and Related Party Transactions Committees are chaired by independent directors and most of the members are qualified non-executive directors. FPH will continue to have four independent directors over and above the legal requirement for three such directors under the Corporation Code. It has appointed a Lead Independent Director, Chief Justice Artemio V. Panganiban. FPH has also appointed Mr. Renato A. Castillo as the Chief Risk Officer (CRO) in connection with the Board Risk Oversight Committee and the Risk Management Group’s functions. Mr. Castillo oversees the FPH Group’s risk management concerns. A Compliance Officer with the rank of Senior Vice President, Mr. Victor Emmanuel B. Santos, Jr., has been appointed and continues to hold this office.

Board Attendance

Mar 25 - Special Board Meeting
ASM-2020 Annual Stockholders Meeting
Org’l - Organizational Board Meeting
* - Resigned/No longer a director since Oct 1, 2020
** - Elected as director on Oct 1, 2020

OSCAR M. LOPEZ
Chairman Emeritus and Chief Strategic Officer

Mr. Oscar M. Lopez, 90 years old, Filipino was bestowed the title Chairman Emeritus of FPH on May 31, 2010 which became effective on June 12, 2010. He is the Corporation’s Chief Strategic Officer. Prior to this, he was the Chairman and Chief Executive Officer of the Corporation from 1986 to 2010. Mr. Lopez is the Chairman of the Executive Committee and of the Corporate Governance Committee of the Corporation. Mr. Lopez is also the Chairman Emeritus of various companies such as Lopez Holdings, First Gen, EDC, First Balfour, First Philippine Industrial Park, Inc., First Philippine Electric Corporation, and Rockwell Land. He is Adviser to the Board of Lopez, Inc. and INAEC Aviation Corporation. He is Chairman of the Board of ABS-CBN Holdings Corporation, Eugenio Lopez Foundation, Inc., Lopez Group Foundation, Inc., and Knowledge Channel Foundation, Inc., among other companies. Mr. Lopez is a board director of ABS-CBN Corp., Adtel, Inc., and Asian Eye Institute, Inc. He studied at Harvard College and graduated cum laude (Bachelor of Arts) in 1951. Mr. Lopez was conferred the degrees of Doctor of Humanities honoris causa by the De La Salle University and Ateneo de Manila University in 2010, and Doctor of Laws honoris causa by the Philippine Women’s University (2009), and the University of the Philippines (2012). He finished his Masters of Public Administration at the Littauer School of Public Administration, also at Harvard in 1955. He has been part of the Lopez group in a directorship and/or executive capacity for over 20 years.

OSCAR M. LOPEZ
Chairman Emeritus and Chief Strategic Officer

FEDERICO R. LOPEZ
Chairman and Chief Executive Officer

Mr. Federico R. Lopez, 58 years old, Filipino, was elected Chairman and Chief Executive Officer (CEO) on May 31, 2010. He has been a Director of the Corporation since February 2006. He is also the Chairman and CEO of publicly-listed First Gen Corporation and likewise chairs the boards of various FPH subsidiaries. He is Vice Chairman of Rockwell Land, a board member of ABS-CBN Corporation, and Treasurer of Lopez Holdings Corporation, which are also listed companies. Mr. Lopez is the Chairman of the Oscar M. Lopez Center for Climate Change Adaptation and Disaster Risk Management Foundation (OML Center), a nonprofit private sector-led initiative supporting research and innovative solutions to build climate-resilient communities. He is the Chairman of Sikat Solar Challenge Foundation, which focuses on bringing clean energy solutions to rural communities. He is a member of the Board of Trustees of the Forest Foundation Philippines, the Philippine Disaster Resilience Foundation, the ABS-CBN Lingkod Kapamilya Foundation, and the Eugenio Lopez Foundation. He is the President of Ang Misyon, an El Sistema-inspired advocacy committed to igniting social change and youth development through the formation of the Orchestra of the Filipino Youth. Mr. Lopez is a member of the New York Philharmonic International Advisory Board, Asia Business Council, World Presidents Organization, Chief Executives Organization, ASEAN Business Club, Management Association of the Philippines, Philippine Chamber of Commerce and Industry, European Chamber of Commerce of the Philippines, and Makati Business Club. He graduated from the University of Pennsylvania in 1983 with a Bachelor of Arts Degree, Double Major in Economics and International Relations (cum laude).

FEDERICO R. LOPEZ
Chairman and Chief Executive Officer

MANUEL M. LOPEZ
Vice Chairman

Mr. Manuel M. Lopez, 78 years old, Filipino, was the Philippine Ambassador to Japan from December 2, 2010 until June, 2016. Ambassador Lopez served as the Chairman of the Board of the Manila Electric Company (Meralco) from 2001 to May 2012, and as its President from 1986 to June 2001. He was its concurrent Chief Executive Officer (CEO) from 1997 to June 2010. Currently, he also serves as the Chairman and CEO of Lopez Holdings Corporation and as Chairman of the Board of Rockwell Land, Rockwell Leisure Club, and Sky Vision Corp. He is the Vice Chairman of FPH and Lopez Inc. He is also a Director of ABS-CBN Corporation and First Philippine Realty Corporation, and a Trustee of the Lopez Group Foundation, Inc. He remains the President of the Eugenio Lopez Foundation, Inc. He is a member of the Executive Committee, the Corporate Governance Committee, the Audit Committee, and the Board Risk Oversight Committee of FPH. He obtained his Bachelor of Science degree in Business Administration from the University of the East and pursued advanced studies in Financial and Management Development from the Harvard Business School.

AUGUSTO ALMEDA-LOPEZ
Director

Mr. Augusto Almeda-Lopez, 91 years old, Filipino has been a Director of the Corporation since 1986. He was Vice Chairman from 1993 to 2010. Mr. AlmedaLopez is the Chairman of the Compensation and Remuneration Committee and a member of the Executive Committee and the Audit Committee. Mr. Almeda-Lopez is also the Chairman of the Board of ACRIS Corporation, Vice Chairman of ABS-CBN Corporation, and a Director of First Philippine Industrial Corporation, Skyvision Corporation, and a Trustee of ABS-CBN Foundation. He graduated with an Associate in Arts degree from Ateneo de Manila University and a Bachelor of Laws degree from the University of the Philippines Class ’52, and is an AMP graduate of the Harvard Business School Class ’55

PETER D. GARRUCHO, JR.
Director

Mr. Peter D. Garrucho, Jr., 76 years old, Filipino, was a Managing Director of the Corporation from 1994 to January 2008. He has been a member of the Board for the same period and up to the present. He is a member of the Audit Committee, Finance and Investment Committee, and Board Risk Oversight Committee. Mr. Garrucho was formerly the Vice Chairman and Chief Executive Officer of First Gen and the First Gas companies. He is also a Board Member of First Gen. He is Vice Chairman of Franklin Baker Company of the Philippines and Chairman of Strategic Equities Corporation. He has significant shareholdings in both companies. He was also formerly Secretary of the Department of Trade and Industry (1991-1992) and of the Department of Tourism (1989-1990). He has likewise served as Executive Secretary and Adviser on Energy Affairs in the Office of the President of the Philippines in 1992. Prior to joining the government in June 1989, he was President of C.C. Unson Co., Inc., which he joined in 1981 after serving as a Full Professor at the Asian Institute of Management. He is now the Chairman of the Board of AIM. He has an AB-BSBA degree from De La Salle University (1966) and an MBA degree from Stanford University (1971).

ELPIDIO L. IBAÑEZ
Director

Mr. Elpidio L. Ibañez, 69 years old, Filipino, has been a Director of the Corporation since 1988. He became President and Chief Operating Officer in May 1994, a position which he held up to Sept. 30, 2015 upon his retirement. He is a member of the Audit Committee and the Corporate Governance Committee. He is also a director of Meralco. Prior to this, Mr. Ibañez was an Executive Vice President from 1987 to 1994 and a Vice President from 1985 to 1987. He graduated with an AB Economics Degree from Ateneo de Manila University in 1972. He obtained his MBA at the University of the Philippines in 1975.

EUGENIO L. LOPEZ III
Director

Mr. Eugenio “Gabby” Lopez III, 66 years old, Filipino, currently sits as the Chairman Emeritus of ABS-CBN Corporation and as the Vice Chairman of Lopez Holdings Corporation. He also serves as Chairman of ABS-CBN Lingkod Kapamilya Foundation, Inc., Play Innovations, Inc., ADTEL Inc., Infopro Business Solutions Inc., INAEC Aviation Corporation, Lopez, Inc., and Ang Misyon Inc., among other posts. He is also a Director of First Gen, FPH, ABS-CBN Film Productions, Inc., Rockwell Land, Sky Cable Corporation, Oscar M. Lopez Center, Endeavor Philippines, Asian Eye Institute, Inc., and a Trustee of Eugenio Lopez Foundation, Inc., and Beacon Academy. He earned a Bachelor of Arts degree in Political Science from Bowdoin College in 1974 in Brunswick, Maine and a Master’s degree in Business Administration from the Harvard Business School in 1980. Mr. Lopez was elected Chairman of ABS-CBN Corporation in 1997. In 2012, Mr. Lopez retired as CEO of ABS-CBN Corporation and remained as the Chairman of its Board of Directors until April 2018. He is the first recipient of the Tanglaw ng Araw award at the 9th Araw Values Awards in 2014. In the same year, he was given a Lifetime Achievement Award by the Kapisanan ng mga Brodkaster ng Pilipinas, a non-government, non-profit organization of the broadcast media in the Philippines.

MR. MIGUEL ERNESTO L. LOPEZ
Director

Mr. Miguel Ernesto L. Lopez, 51 years old, Filipino, was elected as Director of First Philippine Holdings last October 1, 2020. He has been a Director and Treasurer of Rockwell Land Corporation since 2009. He was the Senior Vice President and General Manager of Rockwell Integrated Property Services, Inc. (RIPSI) from 2012 until he started heading the Office Development business of Rockwell Land in June 2016. He is also an Executive Vice President of Lopez Holdings Corporation. He is also a Director of Rockwell Leisure Club, Inc. and Rockwell Center Association, Inc. He is a member of the Board of Trustees of Eugenio Lopez Foundation, Inc. and an advisor to the Lopez Group Foundation Inc. He was previously part of the Board of Directors for Indra, Outsourced Telleserve Corporation, Meralco Millenium Foundation, Inc., Philippine Commercial Capital, Inc. (PCCI), and PCCI Securities Brokers, Inc. He held several executive and management positions at Meralco from 2002-2010. Before this, he was with Maynilad Water Services, Inc. as head of its Central Business Area. Mr. Lopez holds a Bachelor of Science degree in Business Administration from Menlo College of California, USA (1992) and attended the Executive Development Program of the Asian Institute of Management (1998).

RIZALINA G. MANTARING
Independent Director

Ms. Rizalina “Riza” Gervasio Mantaring, 60 years old, Filipino, was the Chief Executive Officer (CEO) and Country Head of the Sun Life Financial group of companies in the Philippines, and was a member of its various boards. She first joined Sun Life in 1992 as Senior Manager for Asia Pacific of its Information Systems Department and progressively took on a variety of roles until she was appointed Chief Operations Officer for Asia in 2008. The following year, she became Deputy President for Sun Life Philippines in March, then President and CEO in August. Riza graduated with a B.S. Electrical Engineering degree (cum laude) from the University of the Philippines and an M.S. Computer Science from the State University of New York at Albany. She is a Fellow of the Life Management Institute (with distinction). At present, Ms. Mantaring also serves as Independent Director of Ayala Land, Inc., PHINMA Corporation, Microventures, Inc., Far Eastern University-Alabang, East Asia Computer Center Inc., and Roosevelt College, Inc. She is also a Director of Sun Life Grepa Financial, Inc. She was the President of the Management Association of the Philippines in 2019. She is also a member of the Boards of Trustees of the Makati Business Club (Treasurer), Philippine Business for Education, Parish Pastoral Council for Responsible Voting (PPCRV), and Operation Smile Philippines.

ARTEMIO V. PANGANIBAN
Independent Director

The Hon. Artemio V. Panganiban, 83 years old, Filipino, was the Chief Justice of the Philippines from 2005 to 2006, and Associate Justice of the Supreme Court from 1995 to 2005. At present, he is a columnist of the Philippine Daily Inquirer, and an Adviser, Consultant, or Independent Director of several business, civic, non-government, and religious groups. He graduated with an Associate in Arts (Highest Honors) in 1956, as well as a Bachelor of Laws degree, (cum laude) in 1960 from the Far Eastern University and was given the award of Most Outstanding Student. He placed sixth in the 1960 Bar Examinations with a grade of 89.55 percent. Aside from FPH, Chief Justice Panganiban is also an Independent Director of the following listed companies or organizations: GMA Network, Inc., Metro Pacific Investments Corporation, Meralco, Robinsons Land Corporation, GMA Holdings, Inc., Petron Corporation, Asian Terminals Incorporated, PLDT, and is a Non-executive Director of Jollibee Foods Corporation. He is also Senior Adviser of Metropolitan Bank and Trust Company, Member of the Bank of PI Advisory Council, and Adviser of DoubleDragon Properties Corp. He assumed office as an independent director of FPH last July 5, 2007 and is the Chairman of the Board Risk Oversight Committee. He is also the Company’s lead independent director.

FRANCIS GILES B. PUNO
Director, President, and COO

Mr. Francis Giles B. Puno, 55 years old, Filipino, was elected Director of the Corporation on March 3, 2011. He was appointed as President and Chief Operating Officer of FPH effective October 1, 2015. He is a member of the Finance & Investment Committee and of the Board Risk Oversight Committee. He was Chief Finance Officer and Treasurer of FPH in October 2007, and was promoted to Executive Vice President in September 2011, a position he held until Sept. 30, 2015. He was Vice President since he joined the Corporation in June 1997. He is currently the President and Chief Operating Officer of First Gen. He is a Director of EDC and its various subsidiaries. He is likewise a director of various FPH subsidiaries Before joining FPH, he worked with the Chase Manhattan Bank as Vice President for its Global Power and Environmental Group. He has a Bachelor of Science degree in Business Management from the Ateneo de Manila University and a Masters in Business Administration degree from Northwestern University’s Kellogg Graduate School of Management in Chicago, Illinois.

ERNESTO B. RUFINO, JR.
Director

Mr. Ernesto B. Rufino, Jr., 79 years old, Filipino, became a Director of the Corporation from 1986 to 2001. He was re-elected to the board in January 2003 and has remained a director since then. He was the Chief Finance Officer, Treasurer, and a Senior Vice President of the Corporation until his retirement in 2007. He sits as a member of the Finance & Investment Committee and the Board Risk Oversight Committee. He is also the Chairman of Health Maintenance, Inc. Before joining the Corporation, he served as the President of Merchants Investments Corporation. He has AB and BSBA degrees (cum laude) from De La Salle University and an MBA degree from Harvard University. He is currently active with the Knights of Malta, General Lim’s Division Bataan, Inc., and as Chairman of the Association of Health Maintenance Organizations of the Philippines.

JUAN B. SANTOS
Independent Director

Mr. Juan B. Santos, 81 years old, Filipino, has been an Independent Director since 2009. He is the Chairman of the Audit Committee and a member of the Corporate Governance Committee. He is currently a Member of the Board of Directors of RCBC, Sun Life Grepa Financial, Inc., House of Investments, Inc., Philippine Investment Management (PHINMA), Inc., and Philippine Investment Management (PHINMA) Corp.; a member of the Board of Advisors of CocaCola FEMSA Philippines, Mitsubishi Motor Phil. Corporation, East-West Seeds Co., Inc.; a trustee of St. Luke’s Medical Center, Dualtech Training Center Foundation, Inc., and a consultant of the Marsman-Drysdale Group of Companies. Prior to joining FPH Board, he was Chairman of the Social Security Commission, served briefly as Secretary of Trade and Industry and was CEO and Chairman of Nestle Philippines, Singapore, and Thailand. He also served as Director of various publicly listed companies, including the Philippine Long Distance Telephone Company (PLDT), Philex Mining Corporation, San Miguel Corporation, Equitable Savings Bank, Inc., and PCI Leasing and Finance, Inc. He obtained his Bachelor of Science Degree in Business Administration from the Ateneo de Manila University, and pursued post-graduate studies on Foreign Trade at the Thunderbird School of Global Management in Arizona, USA. He completed his Advanced Management Course at the International Institute for Management Development (IMD) in Lausanne, Switzerland.

ANITA B. QUITAIN
Director

Ms. Anita B. Quitain, 73 years old, Filipino, is a Commissioner of the Social Security System, having been appointed by President Rodrigo R. Duterte at the start of his administration. She was elected Director of the Corporation last March 1, 2018. A graduate of the University of Mindanao in Davao City where she earned the degree of Bachelor of Science in Elementary Education, she worked as a public school classroom teacher for ten (10) years, after which she transferred to the Social Security System, Region 09. Starting her SSS stint as a simple clerk, she slowly rose through the ranks and served the SSS in various capacities. She headed the following sections of the SSS, Region 09, namely: Membership, Real Estate, Operations Accounting, Membership Assistance Center and Sickness, and Maternity and Disability. She also served as Head of the then newly-opened SSS Representative Office in Digos, Davao del Sur for five (5) years. She retired from the SSS on July 15, 2009 after 31 years of continuous and dedicated service. She brings this wealth of experience to her present post and as director of FPH.

RICHARD B. TANTOCO
Director and Executive Vice President

Mr. Richard B. Tantoco, 53 years old, Filipino, was elected Director of the Corporation on March 1, 2018. He has been an Executive Vice President since September 2011 and a Vice President of the Corporation since May 1997. He is the President and Chief Operating Officer of EDC and several of its subsidiaries. He also sits as a director and Executive Vice President of First Gen and several of its subsidiaries and affiliates. He is currently the President and Trustee of the Oscar M. Lopez Center for Climate Change Adaptation and Disaster Risk Management Foundation, Inc. and a Trustee in the board of several non-profit organizations, such as KEITECH Educational Foundation, Inc., Business for Sustainable Development, Inc., The Lopez Museum, Stiftung Solarenergie Solar Energy Foundation, and Messy Bessy. Prior to joining FPH, he worked with Procter and Gamble Philippines as a Brand Manager and with the management consulting firm Booz, Allen and Hamilton, Inc. in New York and London, where he specialized in mergers and acquisition advisory, turnaround strategy advisory, and growth strategy formulation for media and manufacturing companies. Mr. Tantoco has an MBA in Finance from the Wharton School of Business of the University of Pennsylvania (1993) and a BS degree in Business Management from the Ateneo de Manila University where he graduated with honors (1998).

STEPHEN T. CUUNJIENG
Independent Director

Mr. Stephen T. CuUnjieng, 61 years old, Filipino, is currently Chairman of Evercore Asia Limited, a position he has held since 2011. He is the Financial Adviser to a number of local and international companies. He has worked on major transactions that have been conferred Deals of the Year awards. He is part of the Executive Advisory Board for Asia of the Wharton School of Business. He is also an independent director at Century Properties Group, Golden Springs (Singapore) and Ave Point, a global enterprise software company whose headquarters is in New Jersey, USA. He is likewise a director of Phoenix Petroleum. He was previously an independent director of Aboitiz Equity Ventures (2010 to 2018), an Adviser to the Board of SM Investments Corporation (2008-2017) and a director of Manila North Tollways Corporation (2008-2013). He was Vice Chairman, ASEAN of Macquarie (Hong Kong) Limited from 2007 to 2009. He is a member of the Audit Committee, Corporate Governance Committee and the Board Risk Oversight Committee of FPH. He has a degree in Bachelor of Arts (1980) and also has a Bachelor’s Degree in Law (with honors, 1984) from the Ateneo de Manila University and the Ateneo Law School. He also has a Master’s Degree in Business Administration (Finance) from the Wharton School of Business (1986)

Governance