Our Board is elected annually and currently consists of seven directors, four of which are non-executive and independent. Select a board member's name to learn more about them.
Yin Yong L. Lao is the Chairman of the Company, having been a Director since 1971 and having previously served as President. He is a Director as well as President and Chief Executive Officer of LBL Prime Properties Incorporated, Anonas LRT Property and Dev’t Corp., Hotel Acropolis, Inc. and Ecozone Properties, Inc. Yin Yong is also a Trustee of the Association of Petrochemical Manufacturers of the Philippines. He also serves as a director of the following: Aero-Pack Industries, Inc., Chemrez Technologies, Inc., Chemrez Product Solutions, Inc., First in Colours, Incorporated, Oleo-Fats, Incorporated, Malay Resources, Inc., First Batangas Industrial Park, Inc., Color-Chem Corp., North Mactan Industrial Corporation, and Jadel Holdings Co., Inc. He is a fellow of the Institute of Corporate Directors, Member and Vice Chairman of the Board of Trustees of Lao Foundation, Inc., Member of Philippine Foundation for Science and Technology and UP Engineering Research and Development Foundation, Inc. (UPERDFI). He graduated from the Ateneo de Manila University with a Bachelor of Arts degree in General Studies.
John L. Lao is the Vice Chairman of the Company. He previously served as the President until August 2016. He is currently the President of Aero-Pack Industries, Inc. and Executive Vice President of Chemrez Technologies and Color-Chem Corporation. His other directorships include North Mactan Industrial Corporation, Chemrez Technologies, Inc.,Chemrez, Inc., First in Colours, Incorporated, D&L Polymer and Colours, Incorporated, D&L Powder Coating, Inc., Oleo-Fats Incorporated, Malay Resources, Incorporated, FIC Marketing, Inc., LBL Prime Properties Incorporated, Ecozone Properties, Inc., Anonas LRT Property and Dev’t Corp., Hotel Acropolis, Inc., First Batangas Industrial Park, Inc. and Jadel Holdings Co., Inc. John obtained his B.S. in Business Administration from the University of the East.
Alvin D. Lao became a Director and President and Chief Executive Officer of the Company in August 2016. He also serves as an Independent Director of Xurpas Inc. and as a Director of Axis REIT, a real estate investment trust listed in Malaysia. He is a Vice President of the Technology Club of the Philippines (Philippine alumni of the Massachusetts Institute of Technology) and past president of the Entrepreneurs Organization (EO, Philippine Chapter). He is a current member of the Financial Executives Institute of the Philippines (FINEX), Wallace Business Forum, Akademyang Filipino, and Management Association of the Philippines. He was recently appointed as a member of the Advisory Board of Urban Land Institute – Philippine Branch. He is also the Executive Vice President and Treasurer of LBL Prime Properties, Inc. His other directorships include: Gurango Software Corporation, First in Colours, Incorporated, D&L Polymer and Colours,Incorporated, FIC Tankers Corporation, Ecozone Properties, Inc., Anonas LRT Property and Dev’t Corp., and Hotel Acropolis, Inc. He graduated from the University of Western Australia with a Bachelor of Science in Information Technology (Honours) and Statistics. He also holds a Master’s degree in Business Administration from the MIT Sloan School of Management.
Mercedita S. Nolledo is an independent director of the Company. She also serves currently as a Director and/or officer in various capacities for Bank of the Philippine Islands, BPI Capital Corporation, BPI Family Savings Bank, BPI Foundation, Inc., BPI Investment Management, Inc., BPI Asset Management and Trust Corporation, Xurpas, Inc., Ayala Foundation, Inc., Ayalaland Commercial REIT, Inc., Anvaya Cove Beach & Nature Club, Michigan Holdings, Inc., and Sonoma Properties, Inc.. Mrs. Nolledo obtained a B.S. in Business Administration and Accountancy (Magna Cum Laude and class valedictorian) and a Bachelor of Laws (LI.B degree – cum laude and class valedictorian) from the University of the Philippines. She placed 2nd in both the Certified Public Accountant exams and bar exams in 1960 and 1965, respectively.
Corazon de la Paz-Bernardo is an independent director of the Company. She headed the Social Security System from 2001 to 2008 as President and CEO. Prior to this, she built a successful career as a certified public accountant at Joaquin Cunanan & Co (Price Waterhouse Coopers Philippines) from 1967 to 2001. She was also the first non-European President of the International Social Security Association from 2004 to 2010. She continues to be an independent director or trustee of other companies including Roxas & Co., Republic Glass Holdings, Phinma Energy Corporation, Phinma Petroleum and Geothermal, Inc., University of the East, University of the East RMMMCI, Miriam College, and Del Monte Philippines, Inc.. She is currently the Vice Chairman of the Shareholder Association of the Philippines. Mrs. de la Paz-Bernardo is a graduate of the University of the East (Magna Cum Laude) and obtained first place in the 1960 CPA board examination. She obtained her MBA from the Cornell University Johnson School of Management as a Fulbright grantee and UE scholar.
Lydia Balatbat-Echauz is an independent director of the Company. She has more than three decades of leading the country’s top schools. She served as President of publicly listed Far Eastern University from 2002 to 2012. Previous to this, she was Associate Director at the Graduate School of Business, Ateneo de Manila University until 1985 and Dean of the Graduate School of Business, De La Salle University from 1986 to 2002. Her expertise extends beyond the academe as she also sits on the board of several companies which include Metro Pacific Investments Corporation, Pilipinas Shell Petroleum Corp., PLDT Beneficial Trust Fund, SM Foundation, Inc., Henry Sy Foundation, Inc., PhilStar Group, Riverside College, Inc., NBS College, Felicidad Sy Foundation, Inc., FERN Realty Corporation, Superior Parañaque Homes, Inc., Bancholders, Inc., Akademyang Filipino Asso., Inc., Museo del Galeon, Inc,. and Unilink Communications Corporation.
Karl Kendrick T. Chua is an independent director of the Company. He is a former Secretary of the National Economic and Development Authority and Undersecretary for Strategy, Economics, and Results at the Department of Finance. He has extensive experience in the areas of economic and fiscal policy, statistical development, national identification, labor and social protection policy, poverty analysis, and digital transformation, among others. He is currently a board director of the Bank of the Philippine Islands (BPI) and a board adviser to the LH Paragon Group of Companies. Mr. Chua was a senior official in the Government of the Philippines for six years. As Secretary of Socioeconomic Planning and Chief Economist of the country, he provided strategic leadership on economic policy during the Covid-19 pandemic and the further liberalization of key sectors of the economy. He also oversaw the implementation of the national ID program. As Undersecretary in the Department of Finance, he led the technical team in the passage of the Comprehensive Tax Reform Program and the Rice Tariffication Law. Prior to joining the government, he was with the World Bank for 12 years and was the senior economist for the Philippines. Mr. Chua graduated from the Ateneo De Manila University in 2000 with a degree in B.S. Management Engineering. He earned his M.A. Economics (2003) and Ph.D Economics (2011) from the University of the Philippines, and is currently studying data science at the Asian Institute of Management.
Chairman
Vice Chairman
CEO
Lead Independent Director
Independent Director
Independent Director
Independent Director
Chairperson
| Independent Director | Corazon S. Delapaz-Bernardo |
Members
| Lead Independent Director | Atty. Mercedita S. Nolledo |
| Independent Director | Dr. Lydia R. Balabat-Echauz |
| Independent Director | Karl Kendrick T. Chua |
| Note: The Audit Committee will also perform the functions of the Related Party Transactions Committee |
|
Chairperson
| Lead Independent Director | Atty. Mercedita S. Nolledo |
Members
| Independent Director | Dr. Lydia R. Balabat-Echauz |
| Independent Director | Corazon S. De La Paz-Bernardo |
| Non-Executive | Yin Yong L. Lao |
| Note: The Corporate Governance Committee will also perform the functions of the Nomination Committee and Compensation/Remuneration Committee | |
Chairperson
| Lead Independent Director | Dr. Lydia R. Balabat-Echauz |
Members
| Independent Director | Corazon S. De La Paz-Bernardo |
| Independent Director | Karl Kendrick T. Chua |
| Non-Executive | John L. Lao |
| Executive | Alvin D. Lao |
| Note: The Risk Oversight Committee was renamed Risk Oversight and Sustainability Committee to highlight the committee’s assumption of functions related to environment and sustainability initiatives | |
Chairperson
| Non-Executive | Yin Yong L. Lao |
Members
| Non-Executive | John L. Lao |
| Executive | Alvin D. Lao |
| Dean A. Lao Jr. | |
| Vincent D. Lao | |
| Lester A. Lao | |
| Franco Diego Q. Lao |
| Member | Dean L. Lao |
| Member | Leon L. Lao |
| Member | Alex L. Lao |
| Lead Independent Director |
| Atty Mercedita S. Nolledo |
The Corporation recognizes that the most cogent proof of good corporate governance is that which is visible to the eyes of its investors. Therefore the following provisions are issued for the guidance of all internal and external parties concerned, as governance covenant between the Corporation and all its investors.
The Manual shall institutionalize the principles of good corporate governance in the entire organization.
You may download our Manual on Corporate Governance by clicking on the button below.
The Corporation recognizes that the most cogent proof of good corporate governance is that which is visible to the eyes of its investors. Therefore the following provisions are issued for the guidance of all internal and external parties concerned, as governance covenant between the Corporation and all its investors.
The Board shall be committed to respect the following rights of the stockholders, which shall be exercised in accordance with the Corporation Code, Articles of Incorporation and By-Laws of the Corporation
It shall be the duty of the directors to promote shareholder rights, remove impediments to the exercise of shareholders' rights and allow possibilities to seek redress of violation of their rights. They shall encourage the exercise of shareholders' voting rights and the solution of collective action problems through appropriate mechanisms. They shall be instrumental in removing excessive costs and other administrative impediments to shareholders' meaningful participation in meetings, whether in person or by proxy. The directors shall ensure timely distribution of accurate shareholder information necessary to make informed decisions subject to legal constraints.
The Board shall give minority stockholders the right to propose the holding of meetings and the items for discussion in the agenda that relate directly to the business of the corporation.
The Corporation recognizes that the most cogent proof of good corporate governance is that which is visible to the eyes of its investors. Therefore the following provisions are issued for the guidance of all internal and external parties concerned, as governance covenant between the Corporation and all its investors.
At D&L, our values are at the core of our work and our operations. Our corporate code of business principles (the "Code") incorporates our commitment to this fundamental and basic belief and shows the way to doing things.
We enjoin our subsidiaries, affiliates and member companies to adhere where ever and at all times to the set standards of conduct and behaviour.
We strongly encourage our people as well as our suppliers, customers, contractors and all those we partner with, to live up to the direction and guidance of the Code. We firmly believe upholding what is right and ethical greatly benefits all.
To download our Code of Business Principles, please click on the button below.
Risk is a threat that the occurrence or non-occurrence of an event or action will adversely affect an organization’s ability to achieve its business objectives and execute its plans successfully. Such risks may originate from the different business processes of the company. Through its risk management program, which includes regular reviews of such business processes by the management, D&L identifies, assesses, prioritizes and installs effective countermeasures to minimize or eliminate these risks. Risk management is not only championed by the Board but is also seen as a shared responsibility between the management and D&L employees.