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2012 Annual Meeting of Stockholders and Board of Directors of Philippine Bank of Communications
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The annual meeting of stockholders and board of directors of Philippine Bank of Communications (PBC) was held on March 28, 2012. At that meeting, PBC company elected the following members of the Company's Board of Directors for 2012-2013:


  • Roberto V. Ongpin
  • Eric O. Recto
  • Mario J. Locsin
  • Henry Y. Uy
  • Gregorio T. Yu
  • Bunsit Carlos G. Chung
  • Ralph C. Nubia, Jr.
  • Edgar J. Sia II
  • Patrick Sugito Walujo
  • Imelda S. Singzon (independent)
  • Tomas I. Alcantara (independent)
  • Teresita Ang See (independent)
  • Jose P. Leviste, Jr. (independent)
  • Roberto M. Macasaet, Jr. (independent)
  • Raul O. Serrano (independent)

During the same meeting, Company's shareholders present also unanimously approved and ratified the following:
  1. All acts and proceedings of the management and the Board of Directors of the Company since the last Annual Meeting in 2010.
  2. The audited Financial Statements of the Company for the years ended December 31, 2011, 2010 and 2009.
  3. The appointment of SGV & Company as external auditors of the Company for 2012.
  4. The amendment of Article VII of the Articles of Incorporation of the Company which increased the authorized capital stock of the Company to Php27 billion divided into 1,080,000,000 common shares with a par value of Php25 per share. This amendment will result in simplifying the shareholder structure of the Company which previously consisted of common shares with a par value of PhplOO per share and preferred shares with a par value of Php25 per share even if both common and preferred shares have similar rights (including the same voting and dividend rights). After the Securities and Exchange Commission approves the amendment, there will only be one class of shares in the Company.
  5. The amendment of the By-Laws of the Company to create the office of internal Auditor.
  6. The adoption of a Stock Option Plan subject to regulatory approvals.
At the Organizational Meeting of the Board of Directors of the Company held immediately afterwards, the following were elected corporate officers of the Company for 2012-2013:

Chairman of the Board:Roberto V. Ongpin
Co-Chairman:Eric O. Recto
Vice-Chairman:Mario J. Locsin
President and CEO:Henry Y. Uy
Chairman, Executive Committee:Gregorio T. Yu
Assistant to the ChairmanMarriana H. Yulo
Corporate SecretaryRodolfo Ma. A. Ponferrada
Corporate Information Officers:Rodolfo Ma. A. Ponferrada
Richard O. Arvisu (alternate)
Erlina T. Perez (alternate)
Jocelyn G. Falculan (alternate)

The Board of Directors likewise constituted the following committees and elected their members as follows:

A. Executive Committee

Chairman: Gregorio T. Yu

Vice Chairman: Eric O. Recto

Members:

Henry Y. Uy - President
Imelda S. Singzon
Roberto M. Macasaet, Jr.
Raul O. Serrano
Mario J. Locsin
Ralph C. Nubla, Jr. (alternate)
Bunsit Carlos G. Chung (alternate)

B. Risk Management Committee

Chairman: Roberto M. Macasaet, Jr.

Members: 

Gregorio T. Yu
Ralph C. Nubla, Jr.
Imelda S. Singzon
Bunsit Carlos G. Chung

C. Governance Committee

Chairman: Raul O. Serrano

Members:

Eric O. Recto
Ralph C. Nubla, Jr.
Teresita Ang See


The Governance Committee also serves as the Company's Nomination Committee, Compensation and Remuneration Sub-Committee and Performance Evaluation Sub-Committee.

D. Audit Committee

Chairman: Raul O. Serrano

Members:

Imelda S. Singzon
Bunsit Carlos G. Chung
Edgar J. Sia II
Teresita Ang See

E. Trust  Committee

Chairman: Eric O. Recto

Members:

Roberto M. Macasaet, Jr.
Ralph C. Nubla, Jr.
Henry Y. Uy - President
Raul C. Diaz - Trust Officers

At the regular meeting of the Board of Directors held immediately afterwards, the following matters were, among others, approved:
  1. Adoption of a Stock Option Plan.
  2. Appointment of Mr. Juan B. Estioko as Chief Risk Officer
  3. Hiring of the following senior officers:
NameRankPositionUnit
Suzanne B. MondonedoFVP
Finance
Luis R. ApostolAVPMarketing OfficerRetail Banking Segment
Narciso C. ReanoAVPHead - Cash & ATM Administration DivisionRetail Banking Segment
Emmie N. AvenaAVPHead - Network & Information Security DivisionInformation Systems Group
Cecilia S. MorenoAVPTrust Risk ManagerRisk Management Group
Carmina P. PobleteAVPCustomer Relations Retail OfficerRetail Banking Segment

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