PSE re-elects current board
MANILA, Philippines – The Philippine Stock Exchange (PSE) re-elected its current board during the annual stockholders' meeting on Saturday, May 24.
PSE president and chief executive officer Hans Sicat said the re-election of the 15-man board, currently on its fourth straight year, will allow the PSE to pursue reforms and new products that will revitalize the stock exchange.
Sicat added, “The fresh one-year mandate means we are off and running. It means that we will be able to continue with our three-year program, which we started last year."
The PSE's new plans this year includes the implementation of an online trading platform and Exchange Traded Funds.
The PSE also aims to have 10 initial public offerings. It is also expecting companies to continue raising funds through the stock market, building on strong investor confidence on the economy.
Sicat also said the company is on track to meet its P200 billion target capital raising activities through the stock market.
The other non-broker members of the PSE board are:
- Amor Iliscupidez of SMC Retirement Plan
- Robert Vergara, president and general manager of the Government Service Insurance System
- Annabelle Chua of Philippine Long Distance Telephone Co.
- Edgardo Lacson of Philippine Chamber of Commerce Inc.
- Jose T. Pardo, current PSE chairman
- Dakila Fonacier
- Cornelio Peralta
The seven broker-directors are:
- Emmanuel Bautista
- Eddie Gobing
- Alejandro Yu,
- Francis Chua
- Eusebio Tanco
- Vivian Yuchengco
- David Chua
Under its election rules, the PSE board shall be composed of eight non-broker directors, at least 3 independent directors, and at least one director each to represent the interest of issuers, investors, and the market. – Rappler.com