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Aboitiz firms among PH’s best in good corporate governance

07:54 AM August 09, 2018

(From left) Dmi Lozano, AEV CFO; Antonio R. Moraza, AboitizPowerPresident & CEO; Mailene dela Torre, AEV Corporate Secretary; JosephGonzales, AEV General Counsel; Mickey Colayco, AEV Chief Legal &Compliance Officer; and Danel Aboitiz, AboitizPower Coal Business UnitPresident & COO at the ICD’s 2018 ASEAN Corporate Governance Scorecard Appreciation Ceremony last July 31 in Makati City.

Two publicly-listed Aboitiz companies were recently honored for their outstanding adherence to good corporate governance practices.

Holding company Aboitiz Equity Ventures, Inc. (AEV) and its power business unit Aboitiz Power Corporation (AboitizPower) were recognized among the Philippines’ top 10 publicly-listed companies (PLCs) for corporate governance in 2017 by the Institute of Corporate Directors (ICD).

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AEV and AboitizPower scored at least 104.53 and 104.95 points, respectively, on ICD’s ASEAN (Association of Southeast Asian Nations) Corporate Governance Scorecard.

The ICD, a non-stock, not-for-profit organization dedicated to professionalizing corporate directorship and raising the country’s corporate governance standards, had ranked 247 listed local companies based on rights of shareholders, equitable treatment of shareholders, role of stakeholders in corporate governance, disclosure and transparency, and responsibilities of the board.

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“We are honored to receive these accolades for the whole Aboitiz Group. These were achieved amidst a stricter regulatory environment and affirm the Group’s commitment to corporate governance, its strong purpose, differentiated brand, rich culture, and unwavering core values,” said Erramon I. Aboitiz, AEV President and Chief Executive Officer in a statement.

The Aboitiz Group has consistently been recognized by the ICD for similar past accolades.

In 2016, AEV, together with 14 other listed local companies, were recognized by ICD as Governance Awardees after topping the following criteria: ASEAN Corporate Governance Scorecard, Shareholders, Public Disclosure and Transparency, Stakeholders and Board of Directors.

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