The company sets an annual training budget for the directors and encourages new directors to attend an orientation program in corporate governance.
In 2015, all of our directors attended the Ayala Group Corporate GovernanceSummit facilitated by the Institute of Corporate Directors, Inc. (ICD) The directors of the Corporation, in their own capacity, attend education programs, seminars, and roundtable discussions with service providers such as the ICD.
In the past three years, directors and senior management of Ayala have attended several in-house training and external courses:
Consistent with the Guidelines in Conducting Performance Assessments, the Board conducts annual survey to evaluate the performance of the Board and its individual members, measure the effectiveness of the Company's governance practices and identify areas for improvement, and adopt new methodologies to further strengthen the Company's corporate governance standards. The self-assessment tool will cover the 1) structure of the Board, 2) shareholder benefit, 3) fulfillment of the Board's key responsibilities, 4) oversight function, 5) effectiveness of the Board's processes and meetings, 6) quality of the Board-Management relationship, 7) code of ethics and 8) performance evaluation.