Board of Directors

For an effective Board composition, the selection of Members of the Board is based on the following qualifications: (i) ownership of at least one (1) share of stock of AboitizPower in compliance with the Corporation Code of the Philippines; (ii) university education or sufficient experience in managing the business, in lieu of a college education, (iii) at least twenty one (21) years old; (iv) proven to possess integrity and probity; (v) no conflict of interest; (vi) able to devote his time in fulfilling his duties and responsibilities as Director; (vii) practical understanding of the businesses of the Company; (viii) membership in good standing in relevant industry, business or professional organizations; and (ix) previous business experience.

For a full discussion on the process of election of the members of the Board of Directors, their roles and responsibilities, refer to the Company’s Board Charter, Article of Incorporation and By-Laws, Guidelines for the Constitution of the Nomination Committee and the Election of Independent Directors, and the Manual of Corporate Governance.    

The composition of the AboitizPower Board of Directors are as follows:

Aboitiz Power Corporation Board Members
2024-2025 

For further information, kindly refer to the Company’s latest Annual Report.

Board Committees

The Company’s Board Committees consist of the following: Board Audit Committee, Board Risk and Reputation Management Committee, Board Environmental, Social, and Corporate Governance Committee, Board Related Party Transactions Committee and Executive Committee.

Members of the Board Committees are the duly elected directors of the Company’s Board of Directors as regular members assisted by key officers of the Company on ex-officio basis. These Board Committees hold meetings at twice a year to ensure that sound strategies for the Company’s development are reviewed, monitored and achieved.   

  1. Board Environmental, Social, and Corporate Governance Committee

    The Board Environmental, Social, and Corporate Governance Committee provides information and recommendations necessary for making good governance decisions. The Board’s ability to make decisions with governance impact is supported by the work of the Board Environmental, Social, and Corporate Governance Committee. The Board Environmental, Social, and Corporate Governance Committee assists the Board but does not pre-empt any board responsibilities in making final decisions on corporate governance, nomination and compensation matters. 

    In performing its duties, the Board Environmental, Social, and Corporate Governance Committee maintains effective working relationships with the Board and the Group’s senior leadership to enable it to perform its role effectively. Each Committee member strives to obtain an understanding of the detailed responsibilities of Committee members as well as the Group’s businesses and operating environment. The Committee is expected to contribute to the management of the Group’s affairs through good governance practices for the overall interests of the stakeholders.

    The functions of the Board Environmental, Social, and Corporate Governance Committee are laid down in the Manual on Corporate Governance and Board Environmental, Social, and Corporate Governance Committee Charter.

    Below are the members of the Board Environmental, Social, and Corporate Governance Committee for 2024-2025: 

    Board Environmental, Social, and Corporate Governance Committee
    2024-2025

    • Cesar Romero

      Cesar G. Romero

      Chairman of the Committee

    • Member of the Committee

      Danel C. Aboitiz

      Member of the Committee

    • Sabin M. Aboitiz

      Member of the Committee

       
    • Izumi Kai

      Izumi Kai

      Member of the Committee

    • Eric Ramon O. Recto

      Eric Ramon O. Recto

      Member of the Committee

    • Carlos Ramon C. Aboitiz

      Carlos Ramon C. Aboitiz

      Ex-Officio Member

       
    • Manuel Alberto R. Colayco

      Manuel Alberto R. Colayco

      Ex-Officio Member

       
    •  
    •  
    •  

     

  2. Board Audit Committee

    The Board Audit Committee represents the Board on all audit-related matters of the Company’s group companies. Its work focuses on the optimization of effective financial management, as well as compliance with regulatory reporting requirements for all business units. The Company recreated its internal audit group into the Group Internal Audit and is overseen by the Board through the Board Audit Committee. Click here for a copy of the Internal Audit Charter.     

    The Board Audit Committee oversees the function of the Group Internal Audit in maintaining a comprehensive enterprise-wide compliance program and a robust and institutionalized quality service platform for the Company’s internal audit functions that are annually reviewed. The Board Audit Committee, in conjunction with the Group Internal Audit, performs the following functions: reviews and approves non-audit services conducted by the external auditor sand corresponding fees, assesses and recommends the external auditor on behalf of the Board to ensure a selection of credible, competent, external auditor with the ability to understand the complexity of the entire range of the transactions of the Company, provides the Board with adequate and relevant information on the external auditors for a fair and transparent selection or tender process, and schedules regular meetings and dialogues with the external audit team (with and without management teams present). The Company’s CFO, when invited by the Board Audit Committee, attends the meetings of the Board Audit Committee (a) to ensure immediate clarification and feedback of audit issues to the Board Audit Committee, and (b) to give prompt instructions to the Company of any policy that the Board Audit Committee proposes to implement.

    For a full detailed discussion on the Corporate Audit Policies Control and Compliance System, as well as the role and function of the Audit Committee and Board Audit Committee Charter and Manual on Corporate Governance. 

    The following are the changes in the composition of the Board Audit Committee effective 2024-2025:

    Board Audit Committee
    2024-2025 

    • Eric Ramon O. Recto

      Eric Ramon O. Recto

      Chairman of the Committee

    • Edwin R. Bautista

      Erramon I. Aboitiz

      Member of the Committee

    • Antonio Canova

      Antonio A. Canova

      Member of the Committee

    • Cesar G. Romero

      Cesar G. Romero

      Member of the Committee

    • Izumi Kai

      Izumi Kai

      Member of the Committee

    •  

     

  3. Board Risk and Reputation Management Committee

    The Board is committed to establishing a fully functioning enterprise risk management system for the Company and its businesses and oversees the Company’s risk management functions through the Board Risk and Reputation Management Committee. 

    The Board Risk and Reputation Management Committee represents the Board in discharging its responsibility relating to all risk management related matters across the Aboitiz group companies. Among many tasks, the Committee considers and reviews operational risks, environmental risks, financial asset risks, security risks, and any other form of risk as approved by the Board, with the objective of assessing exposures and strategies, and recommending actions to mitigate these risks. This Committee does not have decision-making authority, except in the circumstances outlined in the Manual or to the extent that the Board expressly delegates certain authority to it.

    The functions of the Board Risk and Reputation Management Committee are laid down in the Manual on Corporate Governance and Board Risk and Reputation Management Committee Charter.

    The following are the changes in the composition of the Board Risk and Reputation Management Committee effective 2024-2025:

    Board Risk and Reputation Management Committee
    2024-2025 

    • Eric Recto

      Eric Ramon O. Recto

      Chairman of the Committee

       
    • Cesar G. Romero

      Cesar G. Romero

      Member of the Committee

    • Toshiro Kudam

      Toshiro Kudama

      Member of the Committee

    • Sabin M. Aboitiz

      Sabin M. Aboitiz

      Member of the Committee

    • Danel C. Aboitiz

      Danel C. Aboitiz

      Member of the Committee

    • Carlos Ramon C. Aboitiz

      Carlos Ramon C. Aboitiz

      Ex-Officio Member

     

  4. Board Related Party Transaction Committee

    For purposes of ensuring transparency and fairness for all stakeholders, the Board constituted the Board Related Party Transactions (RPT) Committee to review proposed RPTs for the purpose of determining whether or not the transaction is conducted at an arm’s length basis and on terms no less than favorable than any such terms available to unconnected third parties under the same or similar circumstances. 

    The Committee evaluates on an ongoing basis existing relations between and among business and counterparties to ensure that all related parties are continuously identified, RPTs are monitored, and subsequent changes in relationships with counterparties (from non-related to related and vice versa) are captured.

    For a full discussion on the purpose, structure, and duties & responsibilities of the Committee, click here for a copy of the Manual on Corporate Governance, Board RPT Charter, and RPT Policy. 

    Below are the members of the Board Related Party Transactions Committee for 2024-2025:

    Board Related Party Transaction Committee
    2024-2025 

    • Eric Ramon O. Recto

      Chairman of the Committee

       
    • Cesar G. Romero

      Cesar G. Romero

      Member of the Committee

       
    • Toshiro Kudama

      Toshiro Kudama

      Member of the Committee

    • Danel C. Aboitiz

      Danel C. Aboitiz

      Observer

       
    •  

     

     

  5. Executive Committee

    The Board of Directors hereby constitutes the Committee to assist the Board of Directors in overseeing the Company’s day-to-day operations. This will ensure agility in the management of the Company and in strategic decision-making, as well as compliance with the Company’s governance policies, during the intervening period between Board meetings. 

    For a full discussion on the purpose, structure, and duties & responsibilities of the Committee, click here for a copy of the Executive Committee Charter.

    The following are the changes in the composition of the Executive Committee effective 2024-2025:

    Executive Committee
    2024-2025 

    • Danel C. Aboitiz

      Chairman of the Committee

       

    • Sabin M. Aboitiz

      Member of the Committee

       

    • Erramon I. Aboitiz

      Member of the Committee

       

    • Toshiro Kudama

      Member of the Committee

       

    • Antonio A. Canova

      Member of the Committee

       

    • Juan Alejandro A. Aboitiz

      Ex-Officio Member

       

    • Joseph J. Lacson

      Ex-Officio Member

       
    •  

     

     

  6. Board Cyber & Information Security Committee

    The purpose of the Board Cyber & Information Security Committee is to carry out the responsibilities delegated by the Board of the Company in relation to its duty to provide strategic direction and ensure the establishment of a system of governance (processes, policies, controls, and management) for the Company and its Strategic Business Units (“SBU”, collectively the “Aboitiz Group’) on matters relating to information security and cybersecurity. 

    For a full discussion on the purpose, structure, and duties & responsibilities of the Committee, click here for a copy of the Board Cyber & Information Security Committee Charter.  

    The following are the composition of the Board Cyber & Information Security Committee effective 2024-2025.

    Board Cyber & Information Security Committee
    2024-2025 

    • Eric Ramon O. Recto

      Chairman of the Committee

       

    • Cesar G. Romero

      Member of the Committee

    • Sabin M. Aboitiz

      Member of the Committee

       

    • Danel C. Aboitiz

      Ex-Officio Member

    • Carlos Ramon C. Aboitiz

      Ex-Officio Member

    • Izumi Kai

      Izumi Kai

      Observer

President and Chief Executive Officer

Mr. Danel C. Aboitiz has been the Company’s Director since 2018 and was appointed as AboitizPower’s President and Chief Executive Officer, effective July 1, 2024. Mr. Aboitiz concurrently holds various directorships within the Aboitiz Group.

In October 2023, Mr. Aboitiz was appointed as Private Sector Representative for Mindanao for the Inter-Agency Investment Promotion Coordination Committee of the Department of Trade and Industry. He also serves as a Director of the Philippine Electricity Market Corporation, Vice Chairman of the Philippine Independent Power Producers Association, and Vice Chair of the Energy Committee of the Management Association of the Philippines.

Mr. Aboitiz has served in various capacities throughout the Aboitiz Group and has been extensively involved in the various Business Units of AboitizPower. He was the Company’s Chief Commercial & Stakeholder Engagement Officer from December 2020 to June 2024 and from 2016 to 2018, served as President and Chief Operating Officer of AboitizPower’s Coal and Oil Business Units. He also handled key positions in AboitizPower’s renewable power generation companies from 2010 to 2016, including the SN AboitizPower Group and AP Renewables Inc.

He is not a director of any other publicly-listed company in the Philippines.

For further information, kindly refer to the Company’s latest Annual Report.

Chief Financial Officers

Mr. Juan Alejandro A. Aboitiz is currently the Company’s Chief Financial Officer. He also holds various directorships within the Aboitiz Group.

Mr. Aboitiz was the Senior Vice President for Commercial Operations of AboitizPower from January 2022 to November 2023, First Vice President for Energy Trading & Sales of AboitizPower from July 2017 to January 2022, Assistant Vice President for Corporate Finance of the Aboitiz Group from January 2016 to June 2017, Regulatory Affairs Manager of the Company from July 2013 to June 2014, and the Department Head for Billing and Collection of Visayan Electric Company, Inc. from March 2012 to June 2013. He joined the Aboitiz Group in April 2011 as a Management Trainee for the Strategy and Corporate Finance department of Aboitiz Equity Ventures Inc. (AEV). Before joining the Aboitiz Group, he was a Senior Associate for Transaction Advisory Services of SyCip Gorres Velayo and Co.

Mr. Aboitiz earned his Bachelor of Science in Accounting from Loyola Marymount University in Los Angeles, California, USA. He completed his Master of Business Administration from the Hong Kong University of Science and Technology and the MBA International Exchange Program at the IESE Business School - University of Navarra in Barcelona, Spain.

Power Generation Group

Ms. Ma. Racquel J. Bustamante is the First Vice President & Chief Financial Officer – Generation Business Group effective July 1, 2018. Ms. Bustamante has extensive experience in the areas of finance and accounting, financial reporting and consolidation, project accounting, and corporate finance.

She is the Chief Finance Officer/Treasurer of Abovant Holdings, Inc. and several subsidiaries under the Renewables Business Group.

Prior to joining AboitizPower, Ms. Bustamante was First Vice President – Head of Finance and Treasurer of First Coconut Manufacturing, Inc., from July 2015 to July 2018; Vice President – Head of Finance and Treasurer of Atlantic Gulf & Pacific Company of Manila, Inc. from July 2014 to July 2015; and Vice President/Group Financial Controller of Mediaquest Holdings, Inc. from November 2010 to July 2014.

Ms. Bustamante graduated from De La Salle University with a degree in Bachelor of Science, Major in Accountancy, and is a Certified Public Accountant.  She is not connected with any government agency or instrumentality. She is also not a director of a publicly-listed company.

Power Distribution Group

Ms. Jeihan S. Borlaza is the Company’s First Vice President and Chief Financial Officer – Power Distribution Group effective October 6, 2020. In this role, Ms. Borlaza will primarily be the advisor to the AP DU COO on all financial matters impacting the business including defining the financial strategy of the Distribution Business Group.

Ms. Borlaza brings to AP twenty (20) years of experience in the different functions of finance. She has in-depth experience in the fast-moving consumer goods industry, handling local and regional operations. Her core competencies include strategic planning, performance management, decision support, budgeting, controllership and dynamic resource allocation. She has successfully led a number of company-wide change initiatives and simplification projects to promote efficiencies across the company such as setting up and operationalizing Unilever's Shared Services.

Prior to joining AP, she was the Commercial Head of Unilever REM Ice Cream, a subsidiary of Unilever Philippines. She led the business planning process, performance management and reporting dynamic resource allocation, budget management and bill-to-cash. She also had an oversight on controllership functions.

Ms. Borlaza graduated from University of the Philippines - Diliman with a degree in Business Administration and Accountancy. She is a Certified Public Accountant and a member of the Chartered Institute of Management Accountants.

She is not connected with any government agency or instrumentality. She is also not a director of a publicly-listed company.

Chief Legal and Compliance Officer

Mr. Manuel Alberto R. Colayco is currently the Senior Vice President/Chief Legal and Compliance Officer/Corporate Secretary of Aboitiz Power Corporation. He concurrently holds Directorships in AboitizPower's various Retail Energy Supply (RES) subsidiaries and is a Management Committee Representative of GNPower Mariveles Energy Center Ltd. Co.

Mr. Colayco has practiced in the areas of corporate law, mergers and acquisitions, joint ventures, securities regulation, corporate and financial restructuring, and litigation. Prior to joining the Aboitiz Group, Mr. Colayco acted as an independent legal consultant providing professional advice, representation, and transactional assistance to private companies and individuals. His previous work experience includes: General Counsel for AGP International Holdings Ltd. and Atlantic, Gulf & Pacific Company of Manila, Inc. from August 2013 to December 2014; Executive Director and Assistant General Counsel of J.P. Morgan Chase Bank N.A. from July 2010 to August 2013; and Vice President and Legal Counsel of DKR Oasis (Hong Kong) LLC, a private investment management firm, from August 2007 until March 2010. He was an Associate at Skadden, Arps, Slate, Meagher &Flom, LLP from 2000 to 2007, and at Romulo Mabanta Buenaventura Sayoc & De Los Angeles from 1996 to 2000.

Mr. Colayco earned his undergraduate and Juris Doctor degrees from the Ateneo de Manila University, and his Master of Laws degree from the New York University School of Law, U.S.A. He is a member in good standing of the Integrated Bar of the Philippines and the New York State Bar.

For further information, kindly refer to the Company’s latest Annual Report.

Corporate Secretary

Ms. Osteria is currently the Company’s Assistant Vice President for Governance and Compliance and Assistant Corporate Secretary.

Prior to joining the Company, Ms. Osteria was the Assistant Corporate Secretary of Robinsons Land Corporation (RLC) and Altus Property Ventures, Inc. (APVI), and Corporate Secretary of RL Fund Management, Inc. and RL Property Management, Inc.

She earned her Bachelor’s degree in Journalism from the University of the Philippines Diliman and her Juris Doctor degree from University of the Philippines College of Law. She was admitted to the Philippine Bar in 2017. She is a member in good standing of the Integrated Bar of the Philippines.

Ms. Osteria is not connected with any other publicly-listed company. She is not connected with any government agency or instrumentality.

For further information, kindly refer to the Company’s latest Annual Report.

Business Units Heads

The Business Unit Heads for the year 2024-2025 are as follows: 

 

Board Secretariat

  • Ma. Clarisse S. Osteria

    Corporate Secretary

  • Frances Katrina C. Arsua

    Assistant Corporate Secretary

  • Justine Mae Cabatingan

    Senior Associate General Counsel

  • Louie R. Mangali

    Paralegal

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