Governance at Ayala
Ayala Corporation is the holding company of the Ayala group—one of the largest and most diversified conglomerates in the Philippines. Since going public in 1976, Ayala has been steadfast in its belief that good corporate governance plays a major role in the success of its businesses.
Given the large scale of Ayala’s operations, its decision-making process has to be inclusive and responsive to the needs of shareholders and address a wider base of interests. Thus, we maximize good governance to refine prevailing business notions, challenge management decisions, and ultimately guarantee that long-term considerations are prioritized over short-term gains.
Toward these goals, Ayala has set in place a comprehensive set of oversight controls to put management decisions in check and ensure that we conform to regulatory requirements and global best practices. In addition to ensuring compliance with regulations, we have spearheaded the development of governance summits and internal councils, supported scholarly efforts on good governance and advanced shared value business models, and voluntarily embedded global frameworks in our operations to support sustainable development.
“Governance has always been a hallmark of Ayala. It is imperative that we continue to improve our internal systems and processes towards upholding and protecting the rights of all our shareholders, from our customers to our investors. This commitment is shared at all levels across the group. I am pleased to note that our efforts continue to go beyond mere compliance, as we actively seek ways to strengthen the governance culture within the group.”
Jaime Augusto Zobel de Ayala
2017 ACGRM Summit
August 11, 2017
“Our approach to transparency has dramatically shifted from mere compliance to a strategic mechanism to drive long-term value and growth. We believe that transparency goes beyond regulatory requirements and should take investor needs as the foundation.”
Fernando Zobel de Ayala
Sharephil Summit 2017
August 31, 2017
Governance that ensures a sustainable enterprise
Ayala adheres to the principles of good governance, including transparency, integrity, accountability, and fairness. We believe that effective corporate governance is essential to the achievement of our strategic goals. The basic elements of Ayala’s corporate governance system include a combination of internal and external mechanisms such as the structure of the board of directors and our committees, oversight of management, and sound policies and controls.
Setting up proper controls, including conforming to regulatory requirements and international standards, is critical to ensuring a sustainable enterprise in the long-term. Our systems and procedures are continuously reviewed, refined, and updated to ensure their effectiveness and adaptability to the changing needs of the markets we participate in. Ayala fully complies with the Code of Corporate Governance set forth by the Securities and Exchange Commission.
As a manifestation of Ayala’s effort to imbibe good corporate governance practices, we have been consistently recognized by various awards, polls, and publications in the Philippines and in the region.
We continue to set high standards for ourselves by reinforcing a governance culture with a solid set of core values at all levels across the company. Good governance creates a strong foundation for our operations and key relationships, and allows us to create shared value for our stakeholders and the communities we serve.