Amb. Manuel M. Lopez: Chairman Emeritus - Executive Director - Filipino

In not less than seven sentences, explain one recommendation and give one example (real life/corporate) of it.
The recommendation that I chose to explain and give an example is recommendation 1.1, which is all about
establishing a competent and skilled Board of Director. An organization will benefit when the right people are on the bus
----or rather sitting at the board room table. We all know that there are so many duties and responsibilities that Board
has to fulfill and he must just competent he s/he has to be a well skilled director to achieve the companies long term
goals. A director must have passion to what s/he is doing. A Board of Directors needs to lead the organization at the
strategic level where results sometimes take months or even years to manifest themselves. A BOD must commit to serve
the company the enough time and desire to participate actively in the board’s work. Commitment assumes a capacity to
take on additional tasks, serve and lead committees, participate in fundraising if your organization solicits funds and
actively participate in deliberations and providing wisdom to the board room discussions. Lastly a Board of Director must
really know the toughest requirement to be considered a s a full-pledged board member is the familiarity with nonprofit
finances. The expectation is not for every member to be a financial wizard but basic knowledge is a must as the board
has a fiduciary duty to ensure the financial health of the organization. Without ability to assess budgets and read
financial statements with a critical eye, a board member easily becomes a follower who approves financial documents
without actually understanding what they represent. Here’s the competent Board of Directors of ABS CBN.
Amb. Manuel M. Lopez

Chairman Emeritus | Executive Director | Filipino
Manuel M. Lopez (aged 77), Filipino, has been a director of the company since June 8, 1993, and was
vice chairman from 2001 to June 2010. He was the Philippine Ambassador to Japan from December 2,
2010 until June 30, 2016. He is a holder of a Bachelor of Science degree in Business Administration
from the University of the East and attended the Program for Management Development at the
Harvard Business School. He is chairman of Rockwell Land, vice chairman of FPH, and is a director of
ABS-CBN and ABSP, all publicly listed. He served Manila Electric Company (Meralco) (publicly listed) as
president from 1986 to June 2001, as chairman and CEO from July 2001 to June 2010, as chairman from July 2010 to June 2012,
and as director until May 2018. He last attended corporate governance training on April 5, 2019. He owns 26,203,945 Lopez
Holdings shares. He has been nominated for re-election.
Chairman and Chief Executive Officer | Executive Director | Filipino

Federico R. Lopez (aged 59), Filipino, was elected as a director and chairman on October 2, 2020. Prior
to becoming chairman and chief executive officer, he was executive vice president for Regulatory
Management from 2001 until June 2010, and then treasurer from June 10, 2010 until October 1, 2020.
He is chairman and CEO of First Philippine Holdings Corporation (since June 2010) and First Gen
Corporation, vice chairman of Rockwell Land Corporation, and a director of ABS-CBN (all publicly
listed).
He is president of Lopez, Inc. He is chairman of the board of trustees of the Oscar M. Lopez Center,
president of Ang Misyon, Inc., and is a member of the board of trustees of the Lopez Group Foundation Inc., Forest Foundation
Philippines, Philippine Disaster Resilience Foundation, and Teach For The Philippines, Inc. He is a member of the Asia Business
Council, World Presidents Organization, New York Philharmonic International Advisory Board, Chief Executives Organization,
Endeavor Philippines, Management Association of the Philippines, Philippine Chamber of Commerce and Industry, European
Chamber of Commerce of the Philippines, and Makati Business Club. He is a graduate of the University of Pennsylvania with a
Bachelor of Arts degree in Economics and International Relations (cum laude, 1983). He last attended corporate governance
training on October 22, 2019. He owns 4,857 Lopez Holdings shares.
Martin L. Lopez
Vice Chairman | Executive Director | Filipino
Martin L. Lopez (aged 48), Filipino, was elected as director and vice-chairman on October 2, 2020. He has
been a director of ABS-CBN Corporation (publicly listed) since April 6, 2017, and has been its chairman since April 19, 2018. He is
also chairman of Sky Cable Corporation and is a trustee in ABS-CBN Foundation. Prior to joining ABS-CBN, he was vice president
and chief information officer of Meralco. He holds a degree in Business Administration from Menlo College and an Executive
Master’s degree in Business Administration from the Asian Institute of Management. He also attended INSEAD’s general
management program in 2017. He last attended the corporate governance training on September 6, 2019. He owns 1,023,603
Holdings shares.
Salvador G. Tirona
Executive Director | President | COO and CFO | Filipino
Salvador G. Tirona (aged 65), Filipino, has been a director, the president and chief operating officer since
June 10, 2010. He joined the company as chief finance officer (CFO) in September 2005. He was formerly
a director and the CFO of Bayan Telecommunications. In 2003, he played a critical and strategic role as
CFO of Maynilad Water Services, Inc., particularly in implementing its rehabilitation plan. He holds a
Bachelor’s degree in Economics from the Ateneo de Manila University and a Master of Business
Administration from the same university. He is a director of ABS-CBN and the comptroller of ABSP (both
publicly listed). He last attended corporate governance training on September 6, 2019. He owns 405,905
Lopez Holdings shares. He has been nominated for re-election.
Cesar E.A. Virata

Independent Director | Filipino
Cesar E.A. Virata (aged 89), Independent Director, Filipino, was elected director of the company on July
9, 2009. He is an independent director. He graduated in 1952 from the University of the Philippines with
Bachelor of Science degrees in Mechanical Engineering and in Business Administration (cum laude). He
received his Master’s degree in Business Administration major in Industrial Management in 1953 from
the University of Pennsylvania. He is a former Prime Minister of the Philippines (1981-1986) and
Chairman of the Committee on Finance of the Batasang Pambansa (1978-1986). Since 1986, he has been
the chairman and president of C. Virata and Associates, Inc. He is also a director (since 1995) and
corporate vice chairman (since 1999) of Rizal Commercial Banking Corporation, and an independent director of Belle
Corporation (since 1996) and City and Land Developers, Inc. (since 2009), all publicly listed. He concurrently serves as director
and/or chairman of such organizations as RCBC Savings Bank, Inc.(since 1999), RCBC Realty Corporation (since 1998), Malayan
Insurance Company, Inc. (since 2004), RCBC Bankard Services Corporation (since 2001), ALTO-Pacific Company, Inc. (since 2014),
Business World Publishing Corporation (since 1989), Malayan Education System, Inc. (since 1999), Luisita Industrial Park (since
1999), RCBC Land Inc. (since 1999), Cavitex Holdings, Inc. (since 2016), Micah Quality Property Development Corporation (since
2016), Niyog Property Holdings, Inc. (since 2005), and AY Foundation, Inc. (since 1997), among others. He last attended
corporate governance training on August 15, 2019. He owns 1 Lopez Holdings share. He has been nominated for re-election.
Amb. Lilia R. Bautista

Independent Director | Filipino
Lilia R. Bautista (aged 85), Independent Director, Filipino, was elected on March 15, 2018. She is presently the Dean of the
College of Law of the Jose Rizal University. She is an independent director of both publicly listed Rizal Commercial Banking
Corporation (since 2016) and RFM Corporation (since 2005). Among the positions she has previously held are: Chairperson of the
World Trade Organization Appellate Body in Geneva, Switzerland (December 2007 to February 2012), Chairperson of the
Securities and Exchange Commission (March 2000 to August 2004), Senior Undersecretary and Special Trade Negotiator,
Department of Trade and Industry (July 1999 to March 2000), and Ambassador Extraordinary and Plenipotentiary, Chief of
Mission, Class I and Permanent Representative to the United Nations Office, World Trade Organization, World Health
Organization, International Labor Organization and other international organizations in Geneva, Switzerland (December 1992 to
June 1999). She obtained her Bachelor of Laws and her Master of Business Administration from the University of the Philippines,
and her Master of Laws at the University of Michigan (Dewitt Fellow). She last attended corporate governance training on
September 6, 2019. She owns 1 Lopez Holdings share. She has been nominated for re-election.

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In not less than seven sentences, explain one recommendation and give one example (real life/corporate) of it.

Amb. Manuel M. Lopez

Chairman and Chief Executive Officer | Executive Director | Filipino

Cesar E.A. Virata

Amb. Lilia R. Bautista

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