Composition

The Board of Directors of Ayala is composed of seven directors who are elected annually at the company’s stockholders’ meeting. On April 10, 2015, 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
Yoshio Amano, Independent Director*
Ramon del Rosario, Jr. Independent Director
Xavier P. Loinaz, 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.

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. 

In 2014, the non-executive and independent directors met once without the presence of any of the executive directors and/or management. Another meeting was held by the non-executive and independent directors on April 10, 2015.

 

*An Independent Director under the ASEAN Standards shall also possess the qualification and none of the disqualifications for an Independent Director under the Philippine Requirements provided and except that, when relevant in the application of the qualifications and disqualifications, a "substantial stockholder" shall mean a stockholder who possesses the power to direct govern, directly or indirectly the financial and operating policies of the Corporation so as to obtain benefits from its activities.

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