Our Board of Directors is primarily responsible for the governance of the Company. Corollary to setting the policies for the accomplishment of the corporate objectives, Meralco Board also provides an independent oversight on Management through the Management Control Policy. Towards this end, our Board ensures that it reviews and approves major projects, policy decisions, annual budgets, major investment funding, and major restructuring of core businesses on a fully informed basis, in good faith, with due diligence and care, and in the best interest of the Company.
Our Board of Directors consists of eleven (11) directors who are elected by the stockholders during the Annual Stockholder’s Meeting (ASM) held every second last Tuesday of May.
Manuel V. Pangilinan
Manuel V. Pangilinan
Filipino, 75 years old
Chairman of the Board of Directors
Chairman of the Executive Committee
Chairman, Remuneration and Leadership Development Committee
Chairman, Sustainability Committee
Director of Manila Electric Company since May 26, 2009
Education and Training:
- BA Economics Degree, Ateneo De Manila University
- Masters in Business Administration, Wharton School of Finance and Commerce University of Pennsylvania
- Honorary Doctorate in Humanities, San Beda College/Xavier University/Holy Angel University/Far Eastern University
Membership in Board of Listed Companies:
- PLDT Inc.
- Metro Pacific Investments Corporation
- Philex Mining Corporation
- PXP Energy Corporation
- Roxas Holdings, Inc.
Membership in Board of Non-Listed Companies:
- Beacon Electric Asset Holdings Inc.
- Smart Communications, Inc.
- PLDT Communications and Energy Ventures Inc.
- Landco Pacific Corporation
- Medical Doctors, Inc.
- Colinas Verdes Corporation
- Davao Doctors Hospital
- Riverside Medical Center, Inc.
- Our Lady of Lourdes Hospital
- Asian Hospital Inc.
- Maynilad Water Services, Inc.
- Mediaquest, Inc.
- Associated Broadcasting Corporation (TV5)
- NLEX Corporation
- MERALCO PowerGen Corporation
- Philex Petroleum Corporation
- Metro Pacific Hospital Holdings, Inc.
- Makati Medical Center
- Cardinal Santos Medical Center
- Digital Telecommunications Phils. Inc.
- Digitel Mobile Philippines, Inc.
Position and Membership in Other Organizations and Corporations:
- Chairman of PLDT Inc., Smart Communications, Inc., Metro Pacific Investments Corporation, PLDT Communications and Energy Ventures Inc., Landco Pacific Corporation; Metro Pacific Hospital Holdings, Inc., Maynilad Water Services, Inc., Mediaquest, Inc., Associated Broadcasting Corporation (TV5), Makati Medical Center, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital, Philex Mining Corporation, Philex Petroleum Corporation, NLEX Corporation, Digital Telecommunications Phils. Inc., Digitel Mobile Philippines, Inc. and MERALCO PowerGen Corporation
- President and Chief Executive Officer of PLDT Inc.
- Chief Executive Officer and Managing Director of First Pacific Company Limited
- Co-chairman of US-Philippines Society
- Chairman of the Board of Trustees of San Beda College, Hongkong Bayanihan Trust, Philippine Disaster Resilience Foundation, Disaster Recovery Foundation, Inc. and Philippine Business for Social Progress
- Vice Chairman of the Foundation for Crime Prevention
- Member of the Board of Overseers of The Wharton School, University of Pennsylvania
- Former Governor of the Philippine Stock Exchange
Manuel V. Pangilinan
Lance Y. Gokongwei
Lance Y. Gokongwei
Filipino, 55 years old
Vice-Chairman of the Board of Directors
Member, Executive Committee
Member, Finance Committee
Member, Remuneration and Leadership Development Committee
Member, Sustainability Committee
Director of Manila Electric Company since December 16, 2013
Education and Training:
- BS Finance, Wharton School of Finance and Commerce University of Pennsylvania
- BS Applied Science, Penn Engineering School University of Pennsylvania
Membership in Board of Listed Companies:
- JG Summit Holding, Inc., President and Chief Executive Officer
- Universal Robina Corporation, Chairman
- Cebu Air, Inc., President and Chief Executive Office
- Robinsons Land Corporation, Chairman
- Robinsons Retatil Holdings, Inc., Chariman
- Altus Property Ventures, Inc., Chairman
- Oriental Petroleum and Minerals Corporation, Director
- United Industrial Corporation Limited, Director
- RL Commercial REIT, Inc., Director
Membership in Board of Non-listed Companies:
- Robinsons Bank Corporation, Chairman
- Gokongwei Brothers Foundation, Inc., Chairman and Trustee
- JG Summit Olefins Corporation, Chairman
- Meralco Powergen Corporation, Director
- Nissin-Universal Robina Corporation, Chairman
- Danone-Universal Robina Corporation, Vice Chairman and President
- Vitasoy-URC, Inc., Vice Chairman and President
- DHL Summit Solutions, Inc., Chairman
- Data Analytics Ventures, Inc., Director
- JE Holdings, Inc., Chairman and President
- JG Digital Equity Ventures, Inc., Chairman
- AB Capital and Investment Corporation, Director
- Global Business Power, Director
- Global Reporting Initiative, Member
Lance Y. Gokongwei
Ray C. Espinosa
Ray C. Espinosa
Filipino, 65 years old
President and CEO since May 28, 2019
Director of Manila Electric Company since May 26, 2009
Education and Training:
- BS General Studies, University of Santo Tomas
- Bachelor of Laws, Ateneo De Manila University
- Master of Laws, University of Michigan Law School
Membership in Board of Publicly Listed Companies:
- PLDT Inc.
- Metro Pacific Investments Corporation
- Lepanto Consolidated Mining Company
- Roxas Holdings, Inc.
Membership in Board of Non-listed Companies:
- Smart Communications, Inc.
- Maybank Philippines, Inc.
- Mediaquest Holdings, Inc.
- Philstar Daily, Inc.
- Business World Publishing, Inc.
- Cignal TV, Inc.
- First Pacific Company Limited
Position and Membership in Other Organizations and Corporations:
- Audit Committee Chairman of Lepanto Consolidated Mining Company
- Risk Management Committee Chairman, Trust Committee Member of Maybank Philippines
- Senior Advisor to the President and Chief Executive Officer of PLDT Inc.
- Member of the Integrated Bar of the Philippines, Philippine Bar Association, and Inter-Pacific Bar Association
- Nomination, Election and Governance Committee Member of Roxas Holdings. Inc.
- Executive Committee Member of LAWASIA Energy Section
- President of Mediaquest Holdings, Inc.
- Chairman of Business World Publishing, Inc. and Philstar Daily, Inc.
Ray C. Espinosa
Frederick D. Go
Frederick D. Go
Filipino, 52 years old
Member, Nomination and Governance Committee
Member, Audit Committee
Member, Risk Management Committee
Member, Related Party Transactions Committee
Member, Sustainability Committee
Director of Manila Electric Company since November 25, 2019
Education and Training:
- BS Management Engineering, Ateneo de Manila University
Membership in Board of Listed Companies:
- Robinsons Land Corporation
- Robinsons Commercial RET, INC.
- Altus Property Ventures, Inc.
- Cebu Air, Inc.
Membership in Board of Non-Listed Companies:
- Luzon International Premier Airport Development Corporation
- Robinsons Bank Corporation
- JG Summit Olefins Corporation
- Cebu Light Industrial Park
Position and Membership in Other Organizations and Companies:
- Group General Manager, Shanghai Ding Feng Real Estate Development Company Limited
- Group General Manager, Xiamen Pacific Estate Investment Company Limited
- Group General Manager, Chengdu Ding Feng Real Estate Investment Company Limited
- Group General Manager, Taicang Ding Feng Real Estate Development Company Limited
- Group General Manager, Chongqing Robinsons Land Real Estate Development Company Limited
- Trustee, Ateneo Sports Hall of Fame
- Trustee, Ateneo de Cebu
- Trustee, Philippine Badminton Association
- Member, Young President’s Organization
- Founding Member – Philippines Charter, Urban Land Institute
- Vice Chairman, Philippine Retailers Association
Frederick D. Go
James L. Go
James L. Go
Filipino, 82 years old
Member, Executive Committee
Member, Audit Committee
Member, Risk Management Committee
Member, Finance Committee
Member, Nomination and Governance Committee
Member, Related Party Transactions Committee
Director of Manila Electric Company since December 16, 2013
Education and Training:
- BS Chemical Engineering, Massachusetts Institute of Technology
- Masters in Chemical Engineering, Massachusetts Institute of Technology
Membership in Board of Listed Companies:
- JG Summit Holdings, Inc.
- Oriental Petroleum and Minerals Corporation
- Robinsons Land Corporation
- Universal Robina Corporation
- Robinsons Retail Holdings, Inc.
- Cebu Air, Inc.
- PLDT Inc.
Membership in Board of Non-listed Companies:
- JG Summit Olefins Corporation
Position and Membership in Other Organizations and Corporations:
- Chairman of JG Summit Holdings, Inc. and Cebu Air, Inc.
- Chairman and Chief Executive Officer of Oriental Petroleum and Minerals Corporation
Chairman Emeritus of Robinsons Land Corporation, Universal Robina Corporation, and JG Summit Olefins Corporation
- Vice-Chairman and Deputy Chief Executive Officer of Robinsons Retail Holdings, Inc.
- President and Trustee of Gokongwei Brothers Foundation, Inc.
- Member of Technology Strategy and Risk Committees and Advisor of the Audit Committee PLDT, Inc.
James L. Go
Anabelle Lim Chua
Anabelle Lim Chua
Filipino, 61 years old
Chairperson, Finance Committee
Member, Audit Committee
Member, Risk Management Committee
Member, Nomination and Governance Committee
Member, Related Party Transactions Committee
Director of Manila Electric Company since May 31, 2016
Education and Training:
- BS Business Administration and Accountancy, University of the Philippines
Membership in Board of Listed Companies:
- Philippine Stock Exchange
Membership in Board of Non-Listed Companies:
- Beacon Electric Asset Holdings, Inc.
- PLDT Communications and Energy Ventures, Inc.
- Smart Communications, Inc.
- Digital Telecommunications Phils. Inc.
- ePLDT, Inc.
- Philippine Trade and Investment Center
- Voyager Innovations, Inc.
- PayMaya Philippines, Inc.
- Mayabank, Inc.
- Mediaquest Holdings Inc.
- Cignal TV, Inc.
- TV5 Network, Inc.
- Philstar Daily, Inc.
- Securities Clearing Corporation of the Philippines
Position and Membership in Other Organizations and Companies
- Chief Finance Officer, Senior Vice President and Chief Risk Management Officer at PLDT Inc.
- Chief Finance Officer, Smart Communications, Inc.
- Member of the Board of Trustees of PLDT Beneficial Trust Fund and PLDT Foundation, Inc.
Anabelle Lim Chua
Jose Ma. K. Lim
Jose Ma. K. Lim
Filipino, 69 years old
Chairman, Risk Management Committee
Member, Executive Committee
Member, Audit Committee
Member, Related Party Transactions
Member, Nomination and Governance Committee
Member, Sustainability Committee
Director of Manila Electric Company since May 29, 2012
Education and Training:
- BA Philosophy, Ateneo de Manila University
- Masters in Business Administration, Asian Institute of Management
Membership in Board of Listed Companies:
- Metro Pacific Investments Corporation
Membership in Board of Non-listed Companies:
- MERALCO PowerGen Corporation
- Beacon Electric Asset Holdings, Inc.
- Global Business Power Corporation
- Maynilad Water Services, Inc.
- Metro Pacific Tollways Corporation
- NLEX Corporation
- Light Rail Manila Corporation
- AF Payments Inc.
- MetroPac Water Investment Corporation
- Metropac Movers Inc.
- Medical Doctors, Inc.
- Manila Medical Services Inc.
- Manila Doctors Hospital
- Asian Institute of Management
- Ateneo Graduate School of Business
- Indra Philippines, Inc.
- Light Rail Manila Holdings, Inc.
- Light Rail Manila Holdings 6, Inc.
- Metro Pacific Light Rail Corporation
- AHI Hospital Holdings Corp.
- Colinas Verdes Hospital Managers Corporation
- Metro Pacific Tollways Development Corporation
- Metro Pacific Tollways North Corporation
- Metro Pacific Tollways Vizmin Corporation
- Metro Pacific Tollways South Corporation
- Beacon Powergen Holdings, Inc.
- MetroPac Iloilo Holdings Corporation
- MetroPac Iloilo Bulk Water Supply Corporation
- MetroPac Cagayan de Oro, Inc.
- MetroPac Logistics Company, Inc.
- Eco-System Technologies International, Inc.
- Maynilad Water Holding Company, Inc.
- Cagayan de Oro Bulk Water Inc.
- Collared Wren Holdings, Inc.
- MPCALA Holdings, Inc.
- Larkwing Holdings, Inc.
- CAVITEX Infrastructure Corporation
- Cebu Cordova Link Expressway Corporation
- Pacific Global One Aviation Company
- Metro Vantage Properties, Inc.
- Surallah Biogas Ventures, Inc.
- Philippine Disaster and Risk Foundation, Inc
Position and Membership in Other Organizations and Corporations:
- President and Chief Executive Officer of Metro Pacific Investments Corporation
- Executive Director, Metro Pacific Investments Corporation
- Trustee of Metro Pacific Investments Foundation Inc.
- Director of Beacon Electric Asset Holdings, Inc., Metro Strategic Infrastructure Holdings
- Director MetPower Ventures Partners Holdings, Inc.
- Trustee of Philippine Disaster Recovery Foundation
- Founding Member of the Shareholders Association of the Philippines
Jose Ma. K. Lim
Victorico P. Vargas
Victorico P. Vargas
Filipino, 69 years old
Education and Training:
- BS Psychology, University of Santo Tomas
Membership in Board of Non-Listed Companies:
- Executive Director, Metro Pacific Investments Corporation
- Smart Communications, Inc.
- MGen Global Business Power
- Maya Bank, Inc.
- PLDT Global, Corp.
- PLDT Subic Telecom, Inc.
- PLDT Clark Telecom, Inc.
- Beacon Electric Asset Holdings, Inc.
- Beacon PowerGen Holdings, Inc.
Position and Membership in Other Organizations and Companies
- Associate Director of First Pacific Company Limited
- Senior Talent Culture and Cultivation, Office of the Chairman
- PLDT Leadership Transition Officer
- President of the Board of Trustees of First Pacific Leadership Academy
- Trustee of the MVP Sports Foundation
- Trustee of the PLDT-Smart Foundation.
- Trustee of IdeaSpace Foundation
- President of PhilPop Music Fest Foundation
- Chairman of the Association of Boxing Alliances in the Philippines
- Chairman of the Philippines Basketball Association for Season 2017-Present
- Vice President of the Samahang Basketbol ng Pilipnas
- Immediate Past President of the Philippine Olympic Committee and currently a member of the Executive Board of Directors
- Former President and Chief Executive Officer of Maynilad Water Services, Inc.
- Former Member of the Executive Committee of the Asian Boxing Confederation
Victorico P. Vargas
Lydia B. Echauz
Lydia B. Echauz
Filipino, 74 years old
Member, Finance Committee
Member, Nomination and Governance Committee
Member, Audit Committee
Director of Manila Electric Company since May 25, 2021
Education and Training:
- Doctor of Business Administration, De La salle University
- Master in Business Administration, Ateneo De Manila University
- Bachelor of Arts, Major in Economics and Mathematics, St. Theresa’s College
Membership in Board of Listed Companies:
- D&L Industries, Inc
- Pilipinas Shell Petroleum
Membership in Board of Non-Listed Companies:
- PLDT Beneficial Trust Fund
- MediaQuest Holdings, Inc.
- Tahanan Mutual Building and Liam Association, Inc.
- Superior Parañaque Homes, Inc.
- Bancholders, Inc.
- Philstar Group
- FERN Realty Corporation
- Riverside College Inc.
- NBS College
- De La Salle College of St. Benilde
- Mano Amiga Academy
- Henry Sy Foundation, Inc.
- Felicidad Sy Foundation, Inc.
- SM Foundation, Inc.
- Akademyang Filipino Asso. Inc.
- Museo de Galeon Foundation, Inc
Lydia B. Echauz
Artemio V. Panganiban
Artemio V. Panganiban
Lead Independent Director
Filipino, 85 years old
Lead Independent Director
Chairman, Audit Committee
Member, Executive Committee
Member, Risk Management Committee
Member, Related Party Transactions Committee
Independent Director of Manila Electric Company since May 27, 2008
Education and Training:
- Associate Arts Degree, Far Eastern University
- Bachelor of Laws, Far Eastern University
- Doctor of Laws (Honoris Causa), University of Iloilo/ Far Eastern University/ University of Cebu/Angeles University/ Bulacan State University
Membership in Board of Listed Companies:
- Petron Corporation
- PLDT Inc.
- Metro Pacific Investments Corporation
- JG Summit Holdings, Inc.
- GMA Network, Inc.
- GMA Holdings, Inc.
- Asian Terminals, Inc.
- RL Commercial REIT, Inc.
- Jollibee Foods Corporation
Membership in Board of Non-listed Companies:
- Metro Pacific Tollways Corporation
- TeaM Energy Corporation
- Asian Hospital Inc.
Position and Membership in Other Organizations and Corporations:
- Chairman, Board of Advisers of Metrobank Foundation; President, Manila MetropolitanCathedralBasilica Foundation, Inc.; Chairman, Board of Trustees, Foundation for Liberty and Prosperity and the Philippine Judges Foundation; Chairman, Philippine National Committee of the Asean Law Association; Trustee, Tan Yan Kee Foundation; Claudio Teehankee Foundation; and Member (and Chairman of the Philippine National Group) of the Permanent Court of Arbitration (The Hague, Netherlands)
- Senior Adviser of Metropolitan Bank and Trust Company
- Member, Advisory Council of the Bank of the Philippine Islands
- Adviser of Double Dragon Properties Corp. and Bank of the Philippine Islands
- Retired Chief Justice of the Supreme Court of the Philippines
Artemio V. Panganiban
Pedro O. Roxas
Pedro O. Roxas
Filipino, 65 years old
Independent Director
Chairman, Nomination and Governance Committee
Chairman, Related Party Transactions Committee
Member, Finance Committee
Member, Audit Committee
Member, Risk Management Committee
Member, Remuneration and Leadership Development Committee
Member, Sustainability Committee
Independent Director of Manila Electric Company since May 25, 2010
Education and Training:
- BS Business Administration, University of Notre Dame Indiana, USA
Membership in Board of Listed Companies:
- Roxas and Company, Inc.
- Roxas Holdings, Inc.
- Cemex Holdings Inc.
- MPIC (Metro Pacific Investment Corp)
- PSMA (Philippine Sugar Millers Association)
Membership in Board of Non-listed Companies:
- Roxaco Land Corporation
- Club Punta Fuego, Inc.
- Brightnote Assets Corporation
- Fundacion Santiago, Inc.
- MAPFRE Insular Insurance Corporation
Position and Membership in Other Organizations and Corporations:
- Chairman of Roxas and Company, Inc., Roxaco Land Corporation, Roxas Holdings, Inc. and Club Punta Fuego, Inc.
- President, Philippine Sugar Millers Association
- Independent Director of PLDT Inc., Cemex Holdings Inc. and BDO Private Bank, Inc.
- Trustee of Philippine Business for Social Progress
- Trustee of Roxas Foundation, Inc.
Pedro O. Roxas
The Board represents a mix of disciplines in the area of business, finance, operations and legal competencies, with each director capable of adding value and exercising independent judgment. Majority of the Board are non-executive directors and three(3) of whom are Independent Directors (ID), namely, Ret. Chief Justice Artemio V. Panganiban, Mr. Pedro E. Roxas, and Ms. Lydia B. Echauz.
| Certificate of Independent Directors |
| Certificates of Independent Directors - Artemio V. Panganiban 2021 |
3.56MB |
Download PDF |
| Certificates of Independent Directors - Lydia B. Echauz 2021 |
2.34MB |
Download PDF |
| Certificates of Independent Directors - Pedro E. Roxas 2021 |
2.58MB |
Download PDF |
To reinforce board independence, the Board appointed Independent Director (ID) Ret. Chief Justice Artemio V. Panganiban as the Lead Independent Director pursuant to the recommendation under ASEAN Corporate Governance Scorecard and the SEC’s Code of Corporate Governance for Publicly-Listed Companies (PLCs). The Board. The Senior/Lead Independent Director shall have the following functions:
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To serve an intermediary between the Chairman and the other directors when necessary;
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To convene and chair meeting of the non-executive directors; and
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To contribute to the performance evaluation of the Chairman, as required.
The Lead Independent Director does not, however, act as Chairman in the absence of the Chairman, the same having been delegated to the Vice-Chairman.
The Board also establishes and annually reviews Meralco’s vision, mission, strategic objectives, values, policies and procedures that guide its activities, including the mechanisms for effective monitoring of Management’s performance, ensuring that internal control mechanisms for good governance are adequate.
