The Philippine Stock Exchange Inc. elected new independent directors former Trade Secretary Peter Favila and Andrew Jerome Gan to its 15-member board. | miguelrcamusINQ /PDI
The PSE also elected PLDT Inc. chief legal counsel Marilyn Victorio-Aquino as the telco’s representative to the board. Aquino replaced former PLDT chief financial officer Anabelle Chua, who retired following a P48-billion budget overrun mess.
The PSE board is comprised of one president-director, five broker directors, and nine nonbroker directors. Of the nine nonbroker directors, at least five are independent directors and at least four are directors representing the interests of issuers, investors and other market participants. Relected as broker directors were Diosdado Arroyo, Eddie Gobing, Wilson Sy, Anthony Te and Ma. Vivian Yuchengco while directors representing investors were San Miguel Corp. chief finance officer Ferdinand Constantino, Government Service Insurance System president and general manager Jose Arnulfo Veloso; and Tomas Alcantara as director representing other market participants.
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