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MANILA, Philippines – Former Trade Secretary Peter Favila has returned to the Philippine Stock Exchange (PSE) as one of its new independent directors.
The PSE elected Favila and Andrew Jerome Gan at the company’s annual stockholders’ meeting held last August 5.
Favila was director of the PSE from 2002 to 2005 and briefly led the exchange as its chairman. He was the Department of Trade and Industry chief of former president Gloria Macapagal Arroyo from 2005 to 2010.
Favila’s latest stint prior to his return to the PSE was being a member of the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), where he served two terms representing the private sector.
Favila was previously president of Philippine National Bank, Security Bank, and Allied Banking Corporation.
Meanwhile, Gan was a director of the Capital Markets Integrity Corporation from 2014 to 2023.
He is co-founder and managing director of Beacon Holdings Incorporated, Beacon Advisors Incorporated, Beacon Management Group Incorporated, and Fifi L’Amour Incorporated. Mr. Gan served as director and treasurer of Nuovo Moda Incorported and managing director of Globo Land Development Corporation.
Photo (first row, left to right): President and CEO Ramon S. Monzon, Chairman and Independent Director Jose T. Pardo, Independent Directors Chief Justice Teresita Leonardo-De Castro (ret.), Andrew Jerome T. Gan.
(Second row) Broker Directors Diosdado M. Arroyo, Eddie T. Gobing, Wilson L. Sy, Anthony M. Te.
(Third row) Director representing issuers Atty. Marilyn Victorio-Aquino; Directors representing Investors Ferdinand K. Constantino and Jose Arnulfo A. Veloso; Treasurer Omelita J. Tiangco.
(Fourth row) Independent directors Vicente L. Panlilio and Peter Favila; Broker-director Vivian Yuchengco; Corporate Secretary Atty. Aissa V. Encarnacion.
Courtesy of PSE website
The PSE also elected PLDT’s chief legal counsel Marilyn Victorio-Aquino as a representative to the board. She replaced former PLDT chief financial officer Annabelle Chua.
She has been an associate director of First Pacific Company Limited since 2018 and currently holds various positions in the Philippine subsidiaries and affiliates of First Pacific and Metro Pacific Investments Corporation.
The exchange also reelected Jose Pardo as chair and Ramon Monzon as president and chief executive officer.
Former Supreme Court Chief Justice Teresita De Castro (retired) and Vicente Panlilio have been given fresh mandates to serve as independent directors. Reelected as broker directors were Diosdado Arroyo, Eddie Gobing, Wilson Sy, Anthony Te and Ma. Vivian Yuchengco.
Directors representing investors were Ferdinand Constantino and Jose Arnulfo Veloso, while Tomas Alcantara was reappointed as director representing other market participants.
“The new directors are excellent additions to our Board given their notable backgrounds and range of expertise and experience. I, together with the rest of the Board, look forward to working with them as we continue to push reforms and initiatives to further develop and deepen our capital market,” said PSE chairman Jose Pardo. – Rappler.com
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