The Board of Directors of Ayala is composed of seven (7) directors who are elected annually at the Company’s stockholders’ meeting. At the annual stockholders’ meeting on April 29, 2022, the following were elected to the Board:
|Director||If nominee, identify the principal||Nominator in the last election (if ID, state the relationship with the nominator)||Date first elected||No. of years served as director|
|Jaime Augusto Zobel de Ayala
|Mermac, Inc.||Arlene B. Montero||May 1987||35|
|Fernando Zobel de Ayala
|Mermac, Inc.||Arlene B. Montero||May 1994||28|
|Delfin L. Lazaro
|N.A.||Arlene B. Montero||January 2007||15|
|Cezar P. Consing
|N.A.||Arlene B. Montero||December 3, 2020||1.25|
|Rizalina G. Mantaring
Lead Independent Director***
|N.A.||Arlene B. Montero (no relation to Ms. Mantaring)||April 2020||2|
|Chua Sock Koong
|N.A.||Arlene B. Montero (no relation to Ms. Chua)||April 23, 2022||0|
|Cesar V. Purisima
|N.A.||Arlene B. Montero (no relation to Mr. Purisima)||April 23, 2022||0|
*Resigned effective September 12, 2022.
***Executive Director effective August 15, 2022.
***Lead Independent Director effective April 29, 2022.
Jaime Augusto Zobel de Ayala is the Chairman of the Board, who assumed the position in 2006.
Fernando Zobel de Ayala has held the position of Co-Vice Chairman from 1994 to 2006 and sole Vice Chairman from 2006 to September 12,2022. Mr. Zobel has resigned as a Director of the Corporation effective September 12, 2022.
On September 27, 2022, our Board of Directors, at its regular meeting, approved the election of Ms. Mercedita S. Nolledo as our director to serve the unexpired term of Mr. Fernando Zobel de Ayala.
The profiles of each board director may be viewed here- http://www.ayala.com.ph/board-directors
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.