Governance

Board Governance

The authority, accountability, and responsibility to steer the course of the company are vested in the following decision-making bodies. However, utmost consultation and collaboration are fostered in assessing and deciding on issues material for the company. The company is in full compliance with its Code of Corporate Governance.

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. Federico R. Lopez
Vice Chairman: Mr. Francis Giles B. Puno

Members:
Mr. Miguel Ernesto L. Lopez
Mr. Richard B. Tantoco
Mr. Emmanuel P. Singson

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, the maintenance of an effective audit process, and the process for monitoring compliance with the Corporate Code of Conduct and Ethics.

Chairman: Ms. Rizalina G. Mantaring

Members:
Mr. Cirilo P. Noel
Mr. Stephen T. CuUnjieng
Mr. Jaime I. Ayala
Mr. Francisco Ed. Lim
Mr. Miguel Ernesto L. Lopez
Ms. Mercedes Lopez Vargas

Board Risk Oversight Committee

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

Chairman: Mr. Cirilo P. Noel

Members:
Mr. Jaime I. Ayala
Mr. Francisco Ed. Lim
Mr. David O. Chua
Ms. Roberta L. Feliciano
Ms. Rizalina G. Mantaring
Com. Anita B. Quitain

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 who can add value and bring prudent judgment in the decision-making process.

Chairman: Mr. Jaime I. Ayala
Vice Chairman: Mr. Federico R. Lopez

Members:
Mr. Stephen T. CuUnjieng
Amb. Manuel M. Lopez
Mr. Francisco Ed. Lim
Mr. Francis Giles B. Puno

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.

Responsibilities of the committee include:

Review and recommend to the Board the company’s compensation system, policies, and guidelines
Oversee the development and implementation of compensation and incentives program
Establish the policy on remuneration of directors and officers to ensure that their compensation is consistent with the company’s culture
Regularly review the salary structure of the President and Senior Management

Further, the compensation of the Chairman and the board are reviewed and set by a committee composed of the Vice Chairman and two Directors, one of whom shall be an Independent Director.

Chairman: Mr. Stephen T. CuUnjieng

Members:
Ms. Rizalina G. Mantaring
Mr. Federico R. Lopez
Mr. Francis Giles B. Puno

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

Vice Chairman: Mr. Francis Giles B. Puno

Members:
Mr. Miguel Ernesto L. Lopez
Mr. Richard B. Tantoco
Mr. Emmanuel P. Singson

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 ensuring the protection of minority investors, and in monitoring compliance with the Material Related Party Transactions Policy.

Chairman: Mr. Stephen T. CuUnjieng

Members:
Mr. Cirilo P. Noel
Ms. Rizalina G. Mantaring
Mr. Richard B. Tantoco
Mr. Emmanuel P. Singson

Governance Activities

The following summarizes the meetings of our Board or Directors in 2021.

Policy Embedding

Our mission for a decarbonized and regenerative future requires a mindset that recognizes and appreciates the broader contexts that we are all part of. In developing and implementing company policies, we do embedding programs to help employees further understand what goes into the policies and the need for them. Through these programs, we aim to help employees appreciate and find convergence between their purpose and that of the company.

We conduct a systematic process to make any new policies or policy updates known and understood by our employee population. We do so through various means, whichever is viable for the certain policy in question, such as through seminars/webinars, focus group discussions, workshops, or a lecture series.

After cascading policies to our employees, the groups accountable for the execution of the policies and their related processes are tasked to embed them further into company activities and procedures and to continuously monitor progress and adherence.

2021 Policy Cascades

In 2021, in partnership with the Corporate Sustainability Group, the Human Resources Group led a series of seminars on the FPH social safeguards policies: the Human Rights Policy, Gender Equality and Diversity Policy, Cultural Heritage and Indigenous Peoples Policy, and Responsible Asset Protection Policy. This follows from the development and finalization of the guidelines of the policies in 2020. The policy cascades had two components:

For the general knowledge of employees

A lecture series on the concepts behind the policies was held, which all employees were required to attend. Guest speakers that delivered these lectures included representatives from the Commission on Human Rights (CHR), Business and Human Rights Resource Center UK, UP Institute of Human Rights, Ateneo Human Rights Center, National Commission on Indigenous Peoples, and subject matter experts from within the organization. These webinars were recorded and uploaded into the company’s internal database for continued access across the business segments.

For the Subsidiary Sustainability Technical Working Groups

A more in-depth human rights workshop was conducted with representatives from all our business segments. These workshops aimed to build the subsidiaries’ capacity to conduct their own human rights impact assessments.

The four social safeguards policies are uploaded on our website, at https://www.fphc.com/corporategovernance/company-policies/sustainability-policies.

Policy Updates

INTERNAL AUDIT CHARTER

The Internal Audit Charter sets the roles and responsibilities of the Internal Audit Group (IAG), which is to provide independent, objective assurance and consulting activity to improve operations of the organization. Internal audits conducted by the IAG are done at least annually, adhering to the Internal Audit Plan reviewed and approved by senior management and the Audit Committee. The scope of the audit encompasses, but is not limited to, the examination and evaluation of the adequacy and effectiveness of the company’s governance, risk management, and internal controls, as well as the quality of performance in carrying out assigned responsibilities to achieve the company’s goals and objectives.

The Internal Audit Charter was updated in 2021 to integrate the company’s Code of Ethics in the charter; emphasize that the IAG reports to the Audit Committee; expand the discussion on the independence and objectivity of the committee, particularly that the internal auditors have no direct operational responsibility or authority over the activities audited; and include the requirement to submit an annual Internal Audit Plan.

More details on the charter can be found on our website at https://www.fphc.com/corporategovernance.

WORKPLACE ISSUES RESOLUTION POLICY

This policy establishes a formal grievance mechanism for our employees, creating a workplace-based mechanism to address workplace issues. Any employee may use the policy to seek redress regarding actionable issues adversely affecting them. The policy also created a Workplace Issues Committee (WPIC) that will act on the issues raised.

Federico R. Lopez
Chairman and Chief Executive Officer

Tenure: 15 years

Committees: Executive Committee, Corporate Governance Committee, Finance and Investment Committee, Compensation and Remuneration Committee

Mr. Federico R. Lopez, 60 years old, Filipino, was elected Chairman and Chief Executive Officer on May 31, 2010. He is also the Chairman and CEO of publicly listed First Gen Corporation and likewise chairs the boards of various FPH subsidiaries. He is also the Vice Chairman of Rockwell Land. He has been a board member of ABS-CBN Corporation and President of Lopez, Inc. since October 2017. He has been the Chairman and CEO of Lopez Holdings Corporation since October 2020. He is also the Chairman of the Oscar M. Lopez Center for Climate Change and Disaster Risk Management Foundation (OML Center) and the President of Ang Misyon. 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 with a Bachelor of Arts Degree, Double Major in Economics and International Relations (cum laude), in 1983.

Manuel M. Lopez
Vice Chairmanr

Tenure: 29 years

Committees: Corporate Governance Committee

Mr. Manuel M. Lopez, 79 years old, Filipino, has been the Chairman Emeritus of Lopez Holdings Corporation since October 2020 and Chairman of the Board of Rockwell Land Corporation, Rockwell Leisure Club, and Sky Vision Corporation. He is the Vice Chairman of FPH and Lopez Inc. He is a Director of ABS-CBN Corporation, First Philippine Realty Corporation, and a Trustee of the Lopez Group Foundation, Inc. He is also the President of the Eugenio Lopez Foundation, Inc. He served as the Philippine Ambassador to Japan from December 2, 2010, until June 2016. He 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 from 1997 to June 2010. 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.

Jaime I. Ayala
Independent Director

Tenure: New Board Member

Committees: Corporate Governance Committee, Audit Committee, Board Risk Oversight Committee

Mr. Jaime I. Ayala, 59 years old, Filipino, is the Founder and CEO of Hybrid Social Solutions, a social enterprise focused on empowering rural villages through solar energy. He was recognized as the Schwab Foundation Social Entrepreneur of the Year in 2013 and as the Ernst & Young Entrepreneur of the Year Philippines in 2012. He was President and CEO of publicly-listed Ayala Land, Inc. and Senior Managing Director of Ayala Corporation. Before that, he was a director (global senior partner) at McKinsey & Company. He played a number of international and regional leadership roles, including head of the firm’s Asian Energy Practice and President of McKinsey’s Manila office. He is a Director of First Gen, a member of the National Advisory Council of the World Wildlife Fund, a trustee of Stiftung Solarenergie – Solar Energy Foundation, and Chairman of Healthway Medical Inc. He earned his MBA from Harvard Business School (honors, 1988) and completed his undergraduate work in Economics at Princeton University (magna cum laude, 1984).

David O. Chua
Chairman and Chief Executive Officer

Tenure: New Board Member

Committees: Board Risk Oversight Committee

David O. Chua, 53 years old, Filipino, is President and CEO of Cathay Pacific Steel Corporation (CAPASCO), Vice Chairman of the Board of the University of the East (UE), the President of One Palanca Land Inc., the President of Orinda Land Corporation, the President of Asia Pacific Capital Equities and Securities Corporation, a Member of the Advisory Board of the Metropolitan Bank and Trust Company (Metrobank), and a Trustee of the University of the East Ramon Magsaysay Memorial Medical Center (UERMMMC). He also currently serves as a director on the board of NiHAO Mineral Resources, Inc., Dizon Copper and Silver Mines Inc., Auto Nation Group Inc. (Mercedes Benz), the Manila House Private Club Inc., Prople BPO Inc., and Kaisa Heritage Museum Inc. He also holds key positions in numerous other companies and business groups. He is also a member of the Philippine Chamber of Commerce and Industry, the Employers Confederation of the Philippines, and the Makati Business Club. He was previously a Board Director of the Philippine Stock Exchange (PSE), First Metro Investment Corporation (FMIC), Philippine Savings Bank (PSBank), Philippine Banking Corporation (Philbank), Crown Equities Inc., PBC Capital and Investment Corporation, and Lincoln Electric Philippines Inc. He graduated from St. Mary’s College of California with a Bachelors of Science in Financial Services Management Honors Program. He received his Master of Business Administration from J.L. Kellogg School of Management at Northwestern University and the Hong Kong University of Science and Technology (HKUST) Graduate School of Management.

Stephen T. CuUnjieng
Independent Director

Tenure: 3 years

Committees: Corporate Governance Committee, Audit Committee, Compensation and Remuneration Committee, Related Party Transactions Committee

Stephen T. CuUnjieng, 62 years old, Filipino, is the Financial Adviser to a number of local and international companies. He held positions as Senior Advisor or Senior Managing Director and Chairman at Evercore Asia Limited from 2009 to 2022. 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), Phoenix Petroleum Philippines, Inc., and Ave Point. 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 has a Bachelor of Arts (1980) degree and 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).

Roberta L. Feliciano
Director

Tenure: New Board Member

Committees: Board Risk Oversight Committee

Roberta L. Feliciano, 60 years old, Filipino, has been the Chairman of the SEA Institute since 2016, a non-profit organization with a commitment to using science-based conservation in the Verde Island Passage (VIP), the world’s center of marine shore-fish biodiversity, for the benefit of the reefs and local communities. SEA stands for Science, Education, and Advocacy. At the Institute, she facilitated decision-making by building consensus and developing solutions collaboratively between other organizations and local government units. She directed fund-raising activities and the building of awareness about protecting and preserving the VIP. She is also the Managing Director of the ABS-CBN Foundation and a member of the Board of Trustees of the Lopez Group Foundation, Inc. The ABS-CBN Foundation is a non-profit organization that carries flagship programs on child welfare and protection (Bantay Bata 163), environment preservation (Bantay Kalikasan), and disaster response (Sagip Kapamilya), while LGFI is a non-stock, non-profit organization that functions as a social, charitable institution, and coordinating body for the Corporate Social Responsibility (CSR) initiatives of the Lopez Group of Companies. She is also the President of Yoga Manila, Inc. She took up her BA in Government at Connecticut College (1983).

Francisco Ed. Lim
Independent Director

Tenure: New Board Member

Committees: Corporate Governance Committee, Audit Committee, Board Risk Oversight Committee

Francisco Ed. Lim, 67 years old, Filipino, is Senior Legal Counsel at Angara Abello Concepcion Regala & Cruz Law Offices. He is the current President of the Financial Executives Institute of the Philippines (FINEX) and also holds the following positions: Director, FINEX Foundation of the Philippines; Trustee, CIBI Foundation, Inc.; Trustee, Judicial Reform Initiative, Inc. (JRI); Trustee, Shareholders’ Association of the Philippines (SharePhil); Member, Institute of Corporate Directors (ICD). He was also the President of the Management Association of the Philippines (MAP). He served as President and CEO and director of the Philippine Stock Exchange, Inc. (PSE) and the President and CEO of Securities Clearing Corporation of the Philippines (“SCCP”). He also served as President of the Shareholders’ Association of the Philippines (“SharePHIL”). He is also a Director and Trustee of several companies. He is a law professor at the Ateneo de Manila University and the San Beda Graduate School of Law. He is a Member of the Committee on the Revision of Rules, Supreme Court and Vice-Chair, Committee on Commercial Law, Philippine Judicial Academy, among others. He earned a Bachelor of Philosophy (magna cum laude) and a Bachelor of Arts (cum laude) from the University of Santo Tomas. He completed his Bachelor of Laws degree (Second Honors) from the Ateneo de Manila University and his Master of Laws degree from the University of Pennsylvania, USA. He is a member of both the Philippine Bar and the New York State Bar.

Mercedes Lopez-Vargas
Director

Tenure: New Board Member

Committees: Audit Committee

Mercedes Lopez-Vargas, 64 years old, Filipino, is the President and Executive Director of the Lopez Group Foundation, Inc. (LGFI), a hub that coordinates, facilitates, and communicates the corporate social responsibility initiatives of all the major companies and foundations of the Lopez Group. Founded upon the pillars of public service, it is a reflection A of the commitment made by the present generation of Lopezes to continue a legacy of philanthropy and social responsibility for the Filipino people. She is also the Director of the Lopez Museum and Library, the former Vice President of Logistics for ABS-CBN Broadcasting Corporation, the Chairperson of the Lopez Human Resources Council, and a Trustee for ABS-CBN Foundation and the Asian Eye Institute. Ms. Vargas is also a trustee of the Philippine Advocacy for Arts Foundation, Inc., organizers of the nationwide Philippine Art Awards. She is also the Co-Founder and President of Stilo Artefino Foundation, Inc., a movement that advocates the preservation, promotion, and sustainability of Philippine artisanal crafts and livelihood, a trustee of Asia Society Philippines; and a founding member of the Asia Venture Philanthropy Network Gender Platform. She took up a BA in Communication Arts at Assumption College.

Miguel Ernesto L. Lopez
Director

Tenure: 1 years

Committees: Executive Committee, Audit Committee, Finance and Investment Committee

Miguel Ernesto L. Lopez, 52 years old, Filipino, has been a Director and Treasurer of Rockwell Land since 2009. From 2016, he has been Senior Vice President and Head of Office Commercial Development of Rockwell Land. 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., Rockwell Carmelray Development Corp., Third Generation Holdings Corp., Kamino Algae Technologies, Inc., Lopez, Inc., Rockwell MFA Corp., Rockwell Primaries, and Rockwell Center Association, Inc. He is a member of the Board of Trustees of Eugenio Lopez Foundation, Inc. and an Advisor and PR Officer of 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 Finance. His past positions include: Senior Vice President and General Manager of Rockwell Property Management Corp.; Vice Chairman of Meralco Savings and Loan Association; Executive Director of Meralco Millenium Foundation, Inc.; and Vice President and Head of Corporate Affairs of Lopez Holdings Corp. He held several executive and management positions at Meralco from 2002 to 2010. Prior to this, he was with Maynilad Water Services, Inc. as the head of its Central Business Area and with BayanTel as AVP for Customer Service Division. Mr. Lopez holds a Bachelor of Science degree in Business Administration from Menlo College of California, USA, and attended the Executive Development Program of the Asian Institute of Management.

Rizalina G. Mantaring
Lead Independent Director

Tenure: 5 years

Committees: Compensation and Remuneration Committee, Audit Committee, Board Risk Oversight Committee, Related Party Transactions Committee

Rizalina Mantaring, 62 years old, Filipino, is currently a Director of Sun Life Grepa Financial. She retired as CEO and Country Head of the Sun Life Financial group of companies in the Philippines in June 2018. She first joined Sun Life in 1992 as Senior Manager for Asia Pacific’s 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. She graduated with a BS in Electrical Engineering degree (cum laude) from the University of the Philippines and an MS in 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 Corporation, Ayala Land, Inc., PHINMA Corporation, Universal Robina Corporation, Inc., Microventures Foundation, Inc., and East Asia Computer Center 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

Cirilio P. Noel
Independent Directorr

Tenure: New Board Member

Committees: Audit Committee, Related Party Transactions Committee, Board Risk Oversight Committee

Cirilo P. Noel, 64 years old, is a lawyer and certified public accountant (CPA). He is the Chairman of Palm Concepcion Power Corporation, Juxtapose Ergo Consultus, Inc, and Cofiar Land Corp. He is also a member of the Board of Directors of PLCSecurity Bank Corporation since April 2018 and was appointed Vice Chairman in April 2020. He is a member of the Board of Directors of Eton Properties, Inc., Transnational Diversified Group Holdings, Amber Kinetics Holdings Co., PTE Ltd., PLC-Globe Telecom, Inc., LH Paragon Group, Golden ABC, PLC-San Miguel Foods and Beverage, Inc., PLCRobinsons Retail Holdings, and PLC First Philippine Holdings Corporation. He is also a member of the Board of Trustees of St. Luke’s Medical Center Quezon City and St. Luke’s Medical Center College of Medicine, while he sits as a board member of St. Luke’s Medical Center- Global City and St. Luke’s Foundation, Inc. He is also currently affiliated with the Makati Business Club, Harvard Law School Association of the Philippines, and Harvard Club of the Philippines. He has also previously held positions in the Board of various companies. He was recognized as the 2019 Outstanding CPA by the Professional Regulations Commission for his distinguished contributions to the fields of accountancy, tax, and law. He held various positions in SyCip Gorres Velayo & Co. (SGV & Co.), including Chairman and Managing Partner. He was also Ernst & Young (EY) ASEAN Tax Head and Far East East Area Tax Leader from 2004 to 2009 and the Presiding Partner of EY Asia Pacific Council. He graduated from the University of the East with a Bachelor of Science degree in Business Administration and obtained his Bachelor of Laws from the Ateneo Law School. He took his Master of Laws at Harvard Law School. He is a Harvard International Tax Program fellow and attended the Asian Institute of Management Program Management Development Program.

Francis Giles B. Puno
Director, President, and Chief Operating Officer

Tenure: 10 years

Committees: Executive Committee, Corporate Governance Committee, Finance and Investment Committee, Audit Committee

Francis Giles B. Puno, 57 years old, Filipino, was appointed as President and Chief Operating Officer of FPH effective October 2015. 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 September 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 also currently the President of FPIP. He is a Director of EDC and its various subsidiaries. He is likewise a director of various FPH subsidiaries. He is also a trustee at the Oscar M. Lopez Center for Climate Change Adaptation and Disaster Risk Management Foundation, Inc. (OML Center), Lopez Group Foundation, Inc., Eugenio Lopez Foundation, Inc., and Philippine Business for Social Progress. 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.

Anita B. Quitain
Director

Tenure: 3 years

Committees: Board Risk Oversight Committee

Anita B. Quitain, 75 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 in 2016. 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 years, after which she transferred to the Social Security System (SSS), 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, Maternity and Disability. She also served as Head of the then newly-opened SSS Representative Office in Digos, Davao del Sur for five years. She retired from the SSS on July 15, 2009, after 31 years of continuous Anita B. Quitain Director Tenure: 3 years Committee: BRO and dedicated service. She brings this wealth of experience to her present post and as director of FPH.

Emmanuel P. Singson
Director, Executive Vice President, Treasurer, and Chief Finance Officer

Tenure: New Board Member

Committees: Executive Committee, Related Party Transactions Committee, Finance and Investment Committee

Emmanuel P. Singson, 56 years old, Filipino, was appointed Senior Vice President, Treasurer, and Chief Finance Officer (CFO) of FPH in October 2015. He was promoted to Executive Vice President in October 2021. He is presently the SVP, Treasurer, and CFO of First Gen Corporation, which he joined in 2001. He has led, structured, negotiated, and implemented multiple financing initiatives for First Gen and its subsidiaries, including the USD1.5 billion EDC acquisition in 2007, the USD544 million Sta. Rita refinancing in 2008, and the USD360 million acquisition of British Gas shares in the First Gas companies in 2012. A number of key initiatives were undertaken under unfavorable financial circumstances. He was appointed Vice President of First Gen in 2005, and Head of Investor Relations in 2007. He was appointed Treasurer in 2010, and CFO in 2011. He is currently the President of First Philippine Development Corporation. He is likewise Director and Treasurer of numerous FPH subsidiaries. He is also the Treasurer of First Sumiden Realty, Inc. Mr. Singson holds a Bachelor of Science degree in Business Management from the Ateneo de Manila University (1987).

Richard B. Tantoco
Director and Executive Vice President

Tenure: 3 years

Committees: Executive Committee, Related Party Transactions Committee, Finance and Investment Committee

Richard B. Tantoco, 55 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 Energy Development Corporation and several of its subsidiaries. He also sits as a director and Executive Vice President of First Gen Corporation and several of its subsidiaries and affiliates and a director of Cebu Air, Inc. 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 Sustainability Development, Inc., and The Eugenio Lopez Foundation, Inc. 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).

Board Governance

Board Committees

Governance Activities

Policy Embedding

Board of Directors

Senior Management

Related articles

Our Value Creation

Message from the Chairman

Message from the President

Executive Committee

Audit Committee

Board Risk Oversight Committee

Corporate Governance Committee

Compensation and Remuneration Committee

Finance and Investment Committee

Related Party Transaction Committee

2021 Policy Cascades

Policy Updates

INTERNAL AUDIT CHARTER

WORKPLACE ISSUES RESOLUTION POLICY

Federico R. Lopez Chairman and Chief Executive Officer

Manuel M. Lopez Vice Chairmanr

Jaime I. Ayala Independent Director

David O. Chua Chairman and Chief Executive Officer

Stephen T. CuUnjieng Independent Director

Roberta L. Feliciano Director

Francisco Ed. Lim Independent Director

Mercedes Lopez-Vargas Director

Miguel Ernesto L. Lopez Director

Rizalina G. Mantaring Lead Independent Director

Cirilio P. Noel Independent Directorr

Francis Giles B. Puno Director, President, and Chief Operating Officer

Anita B. Quitain Director

Emmanuel P. Singson Director, Executive Vice President, Treasurer, and Chief Finance Officer

Richard B. Tantoco Director and Executive Vice President

Oscar M. Lopez

Federico R. Lopez
Chairman and Chief Executive Officer

Manuel M. Lopez
Vice Chairmanr

Jaime I. Ayala
Independent Director

David O. Chua
Chairman and Chief Executive Officer

Stephen T. CuUnjieng
Independent Director

Roberta L. Feliciano
Director

Francisco Ed. Lim
Independent Director

Mercedes Lopez-Vargas
Director

Miguel Ernesto L. Lopez
Director

Rizalina G. Mantaring
Lead Independent Director

Cirilio P. Noel
Independent Directorr

Francis Giles B. Puno
Director, President, and Chief Operating Officer

Anita B. Quitain
Director

Emmanuel P. Singson
Director, Executive Vice President, Treasurer, and Chief Finance Officer

Richard B. Tantoco
Director and Executive Vice President