Executive Committee

During the intervals between the meetings of the Board, the Executive Committee possesses and may exercise powers of the Board which can lawfully be delegated in the management and direction of the affairs of the Corporation in all cases in which specific directions shall have not been given by the Board. All actions by the Executive Committee shall be reported to the Board at its meeting next succeeding such action, and shall be subject to revision and alteration by the Board, provided that no rights of third parties shall be affected by any such revision or alteration.

Executive Committee Members

Dean L. Lao
Leon L. Lao
Yin Yong L. Lao
Alex L. Lao
Alvin D. Lao

Audit Committee

The Audit Committee has the following functions:

a)  Assist the Board in the performance of its oversight responsibility for the financial reporting process, system of internal control, audit process, and monitoring of compliance with applicable laws, rules and regulations;

b)  Provide oversight over Management’s activities in managing credit, market, liquidity, operational, legal and other risks of the corporation. This function shall include regular receipt from Management of information on risk exposures and risk management activities;

more on functions of the Audit Committee

Audit Committee Members

Mercedita S. Nolledo
Yin Yong L. Lao
Filemon T. Berba

Nomination Committee

The Nomination Committee shall review and evaluate the qualifications of all persons nominated as director, whose names are submitted to the Corporation in accordance with Article IV, Section 1 of the By-laws, and other appointments that require Board approval, and assess the effectiveness of the Board’s processes and procedures in the election and replacement of directors. It shall conduct nominations and pre- screen the qualifications of candidates for independent directors and prescribe screening policies and parameters in the review of the qualifications of nominees for independent directors. It shall adopt procedures for the nomination, election and termination and or cessation of independent directors in conformity with applicable laws and regulations.

Nomination Committee Members

Leon L. Lao

John L. Lao
Filemon T. Berba, Jr,

Remuneration Committee

The Compensation Committee shall establish a formal and transparent procedure for developing a policy on remuneration of directors and officers to ensure that their compensation is consistent with the Corporation’s culture, strategy and the business environment in which it operates.

Remuneration Committee Members

Yin Yong L. Lao

John L. Lao
Mercedita S. Nolledo