The Board of Directors of Ayala is composed of seven directors who are elected annually at the company’s stockholders’ meeting. On April 20, 2018, the following were elected to the Board:
- Jaime Augusto Zobel de Ayala, Chairman and Chief Executive Officer
- Fernando Zobel de Ayala, President, and Chief Operating Officer
- Delfin L. Lazaro, Non-Executive Director
- Keiichi Matsunaga, Non-Executive Director
- Ramon del Rosario, Jr. Independent Director
- Xavier P. Loinaz, Lead Independent Director
- Antonio Jose U. Periquet, Independent Director
The Chairman of the Board is Jaime Augusto Zobel de Ayala, who assumed the position in 2006. Fernando Zobel de Ayala has held the position of Co-Vice Chairman since 1994 and sole Vice Chairman since 2006. The profiles of each board director may be viewed here - http://www.ayala.com.ph/board-directors
The independent directors have no interest or relationship with the company that may hinder their independence from the company, Management or shareholders which could materially interfere with their exercise of independent judgment in carrying out their responsibilities as directors.
The non-executive and independent directors met on April 21, 2017 without the presence of any of the executive directors and/or management, except for the Compliance Officer and Corporate Secretary. On March 9, 2018, non-executive and independent directors of the Company had a meeting where the Compliance Officer and Corporate Secretary and the Chief Audit Executive were present.