Management Team and Executive Officers
Our Management Team
Our Management is primarily accountable to the Board of Directors and is responsible for Meralco’s successful implementation of the corporate strategy and direction. Management is represented by a Management Committee (ManCom) composed of the corporate officers and executives headed by the President and CEO.
The Board is primarily responsible for approving the selection of Management. The Remuneration and Leadership Development Committee reviews and endorses for Board ratification all promotions to the rank of Vice President up to Senior VP, including the Chief Risk Officer, Chief Compliance Officer and Chief Audit Executive.
Regular meetings are conducted by the ManCom to ensure implementation of major policies and directions governing the Company and its subsidiaries. It reports to the Board during regular Board meetings or during special meetings through the President and CEO.
The following are the members of the Management Team of the Company as provided in the Amended General Information Sheet (GIS) for 2020:
|Ray C. Espinosa||President and Chief Executive Officer|
|Simeon Ken R. Ferrer||Corporate Secretary|
|Roberto R. Almazora||SVP and Head, MPower|
|Ronnie L. Aperocho||SVP and Head, Networks|
|Betty C. Siy-Yap||SVP and Chief Finance Officer|
|William S. Pamintuan||SVP, Chief Legal Counsel, Assistant Corporate Secretary, Compliance Officer and Head, Legal & Corporate Governance Office, and Data Protection Officer|
|Ferdinand O. Geluz||FVP and Chief Commercial Officer|
|Jose Ronald V. Valles||FVP and Head, Regulatory Management Office|
|Edgardo V. Carasig||FVP and Head, Human Resources and Corporate Services|
|Melanie T. Oteyza||FVP and Chief Audit Executive|
|Maria Luisa V. Alvendia||FVP, Chief of Staff and Supply Chain Advisor|
|Benjamin U. Cusi||VP and Head, Facilities Securities and General Services|
|Ireneo B. Acuña||VP and Head, Electric Distribution Development Group|
|Agapito D. Zaldarriaga||VP and Head, Corporate Communications|
|Rita D. Batigue||VP and HR Business Partner for Subsidiaries|
|Charina P. Padua||VP and Head, Commercial Operations|
|Richard O. Ochava||VP and Chief Operating Officer, MIESCOR|
|Froilan J. Savet||VP and Head, Network Planning and Project Management|
|Ma. Cecilia M. Domingo||VP and Head, Corporate Business Group|
|Joseph Allan C. Baltazar||VP and Head, South Distribution Services|
|Antonio M. Abuel, Jr.||VP and Head, Organizational Safety, Resiliency & Business Continuity Management|
|Jose S. Reyes Jr.||VP and Head, Network Technology and Asset Management|
|Lawrence S. Fernandez||VP and Head, Utility Economics|
|Maria Zarah R. Villanueva-Castro||VP and Head, Corporate Legal Services|
|Jose Antonio T. Valdez||VP and Head, Marketing, Customer Solutions & Product Development|
|Raymond B. Ravelo||VP and Chief Sustainability Officer|
|Bennette D. Bachoco||VP and Head, Financial Planning and Reporting|
|Patrick Dave B. Bacani||VP and Head, Sustainability Programs, Reporting, and Partnerships|
|Jenevi L. Dela Paz||VP and Chief Operating Officer, Radius|
|Roque D. Bacani||VP and Head, Corporate Technology & Transformation|
|Maria Carmela T. Migriño||VP and Chief Information Security Officer|
|Glen N. San Pedro||VP and Head, Supply Chain Management|
|Ma. Cynthia C. Soluren||SAVP, Treasurer and Head, Investment and Debt Management|
Performance Assessment and Remuneration
The annual performance of Management is assessed through the achievement of the Company’s Goals and Initiatives (GAINs) indicators.
The Board ensures that the remuneration of directors and officers is consistent with the Company’s culture, strategy, and the business environment in which it operates and aligned with the long-term interest of the Company. Meralco adopts measurable standards to align the performance-based remuneration of the executive directors and senior executives with long-term interest, such as deferred bonuses. Officers and employees are accordingly compensated based on Company, team, and individual performance to help achieve corporate goals and targets and provides for long term incentives such as pay based on Meralco Group’s achievement of specified level of consolidated core net income approved by the Board and determined on an aggregate basis for a three-year period as well as executives’ attainment of a minimum level of performance rating.
The Board of Directors ensures and adopts an effective succession planning program for key officers and management. The Remuneration and Leadership Development Committee (RLDC) is responsible for overall guidance and direction on succession planning and leadership development of the President and CEO and Senior Management. The Committee, working closely with the head of Human Resources (HR), drives the strategy for succession planning, leadership development, and talent management. The HR head develops and implements the processes and the tools to ensure robust pools of succession candidates for the President and CEO, senior management, middle management and first line management.
Talent Management and Succession Planning Programs are top priorities in the Human Resources (HR) agenda by ensuring that the right leaders and talents are in place to drive our business plans. The succession planning process involves the assessment of the Company's leaders career aspirations, strengths, and development needs. A key feature of the Company's succession planning process is the talent review conducted at the Senior Management level and at various levels of the organization. The talent reviews have been a hallmark of the Company’s process and is a best-in-class talent management practice. Progressive talent management assessment tools and methodologies were used to identify, assess, and develop leaders for critical positions. The process deliverables are individual development plans designed to bring key talents to higher levels of performance and accountability. It involves authentic and extensive management discussions and deliberations by leaders on the aspirations, strengths, development needs, and challenges of key talents.
Presently, the succession plan covers the top 636 leaders of the Company. The succession planning process involves the assessment of the Company’s leaders’ career aspirations, strengths, and development needs. A key feature of the Company’s succession planning process is the talent review conducted at the senior management level and at various levels of the organization. The senior management talent review has resulted in a pool of about 20 candidates who, subject to the realization of their development plans, could become management committee members within the next five (5) years.
All of these have created a development mindset throughout the organization and have established a strong and robust leadership pipeline that will adequately meet Meralco’s senior leadership requirements well into the future.
The Board adopts a policy on the retirement for directors and key officers. The Remuneration and Leadership Development Committee assists the Board in the development of the Company’s overall performance management, compensation, retirement and leadership development policies and programs based on the Company-approved philosophy and budget.