The Board is guided by the Corporation’s mission and vision in the fulfilment of its functions. The Board conducts a review of the Company’s vision and mission, strategies and corporate governance practices on an annual basis and provides for necessary improvements. In line with this, the Board also ensures the adequacy of internal controls and risk management practices, accuracy and reliability of financial reporting, and compliance with applicable laws and regulations together with the implementation of the Company’s Code of Ethics.
The Board is composed of nine (9) members (each a “member” or “director”), more than 50 percent of whom are independent and/or non-executive directors. Independent directors may serve for a period of not more than nine (9) years.
|Director||Position||Nature of Appointment|
|Fernando Zobel de Ayala||Chairman||Non-executive|
|Jaime Augusto Zobel de Ayala||Vice Chairman||Non-executive|
|Antonino T. Aquino||Director||Non-executive|
|Bernard Vincent O. Dy||Director||Executive|
|Arturo G. Corpuz||Director||Non-executive|
|Delfin L. Lazaro||Director||Non-executive|
|Jaime C. Laya||Director||Non-executive/Lead Independent|
|Rizalina G. Mantaring||Director||Non-executive/Independent|
|Cesar V. Purisima||Director||Non-executive/Independent|
To view the Board of Directors Charter, click on the link below:
(Fernando Zobel de Ayala)
Fernando Zobel de Ayala, Filipino, 58, has served as Chairman of the Board of ALI since April 1999.
He holds the following positions in publicly listed companies: President and Chief Operating Officer of Ayala Corporation; Chairman of Manila Water Company, Inc.; Director of Bank of The Philippine Islands, Globe Telecom, Inc. and Integrated Micro-Electronics, Inc.; and Independent Director of Pilipinas Shell Petroleum Corporation.
He is the Chairman of AC International Finance Ltd., ALI Eton Property Development Corporation, Liontide Holdings, Inc., AC Energy, Inc., Ayala Healthcare Holdings, Inc., Automobile Central Enterprise, Inc., Alabang Commercial Corporation, Accendo Commercial Corp. and Hero Foundation, Inc.; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Vice-Chairman of AC Industrial Technology Holdings, Inc., Aurora Properties Incorporated, Vesta Property Holdings, Inc., Ceci Realty Inc., Fort Bonifacio Development Corporation, Bonifacio Land Corporation, Emerging City Holdings, Inc., Columbus Holdings, Inc., Berkshires Holdings, Inc., AKL Properties Inc., AC Ventures Holding Corp. and Bonifacio Art Foundation, Inc.; Director of LiveIt Investments Ltd., AG Holdings Ltd., AC Infrastructure Holdings Corporation, Asiacom Philippines, Inc., Ayala Retirement Fund Holdings, Inc., AC Education, Inc., Honda Cars Philippines, Inc., Isuzu Philippines Corporation, and Manila Peninsula; Member of the Board for INSEAD and Georgetown University; Member of the International Advisory Board of Tikehau Capita; Member of the Philippine-Singapore Business Council, INSEAD East Asia Council, World Presidents’ Organization; and Chief Executives Organization; Chairman of Habitat for Humanity’s Asia-Pacific Capital Campaign Steering Committee; and Member of the Board of Trustees of Caritas Manila, Pilipinas Shell Foundation, and the National Museum.
He graduated with B.A. Liberal Arts at Harvard College in 1982 and holds a CIM from INSEAD, France.
(Jaime Augusto Zobel de Ayala)
Jaime Augusto Zobel de Ayala, Filipino, 59, has served as a Director, Vice Chairman and Member of the Executive Committee of ALI since June 1988.
He holds the following positions in publicly listed companies: Chairman and CEO of Ayala Corporation; Chairman of Globe Telecom, Inc., Integrated Micro-Electronics, Inc. and Bank of the Philippine Islands; and Vice Chairman of Manila Water Company, Inc.
He is also the Chairman of AC Education, Inc., Ayala Retirement Fund Holdings, Inc., AC Industrial Technology Holdings, Inc., AC Ventures Holding Corp., AC Infrastructure Holdings Corporation and Asiacom Philippines, Inc.; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Director of Alabang Commercial Corporation, Ayala International Pte. Ltd., AC Energy, Inc., Ayala Healthcare Holdings, Inc., Light Rail Manila Holdings, Inc. and AG Holdings Ltd.
Outside the Ayala group, he is a member of various business and socio-civic organizations in the Philippines and abroad, including the JP Morgan International Council, JP Morgan Asia Pacific Council, Mitsubishi Corporation International Advisory Council, and Council on Foreign Relations.
He sits on the board of the Singapore Management University, the Global Advisory Board of University of Tokyo, and on various advisory boards of Harvard University, including the Global Advisory Council, HBS Board of Dean’s Advisors, and HBS Asia-Pacific Advisory Board, which he chairs.
He is Chairman Emeritus of the Asia Business Council, Co-Vice Chairman of the Makati Business Club, Chairman of Endeavor Philippines, and a board member of Eisenhower Fellowships.
He was awarded the Presidential Medal of Merit in 2009, the Philippine Legion of Honor with rank of Grand Commander in 2010, and the Order of Mabini with rank of Commander in 2015 by the President of the Philippines in recognition of his outstanding public service.
In 2017, he was recognized as a United Nations Sustainable Development Goals Pioneer for his work in sustainable business strategy and operations. The first recipient of the award from the Philippines, he was one of 10 individuals recognized for championing sustainability and the pursuit of the 17 SDGs in business.
He graduated with B.A. in Economics (Cum Laude) from Harvard College in 1981 and obtained an MBA from the Harvard Graduate School of Business in 1987.
(Bernard Vincent O. Dy)
Bernard Vincent O. Dy, Filipino, 55, is the President and Chief Executive Officer of ALI since April 7, 2014. Prior to this, he was the Head of Residential Business, Commercial Business and Corporate Marketing and Sales.
He is also the Chairman of Ayala Property Management Corporation, Makati Development Corporation, Alveo Land Corporation, Amaia Land Corporation, AyalaLand Commercial Reit, Inc., Bellavita Land Corporation, Ayagold Retailers, Inc., Station Square East Commercial Corporation, Aviana Development Corp., Cagayan De Oro Gateway Corp., BGSouth Properties, Inc., BGNorth Properties, Inc., BGWest Properties, Inc., Portico Land Corp., Philippine Integrated Energy Solutions, Inc., Avencosouth Corp., and Nuevocentro, Inc.
Mr. Dy also serves as Vice Chairman of Ayala Greenfield Development Corporation and Alviera Country Club, Inc. He is also President of Bonifacio Land Corporation, Emerging City Holdings, Inc., Columbus Holdings, Inc., Berkshires Holdings, Inc., Fort Bonifacio Development Corporation, Aurora Properties Incorporated, Vesta Property Holdings, Inc., Ceci Realty Inc., Alabang Commercial Corporation and Accendo Commercial Corp.
Mr. Dy also serves as Director of Prime Orion Philippines, Inc., Cebu Holdings, Inc., and MCT Bhd of Malaysia, Avida Land Corporation, Amicassa Process Solutions, Inc., Whiteknight Holdings, Inc., AyalaLand Medical Facilities Leasing, Inc., Serendra, Inc., Alveo-Federal Land Communities, Inc., ALI Eton Property Development Corporation., and AKL Properties Inc.
Mr. Dy is the President of Hero Foundation Inc. and Bonifacio Art Foundation, Inc. He is also a member of Ayala Foundation, Inc. and Ayala Group Club, Inc. In 2015, he was inducted as member of the Advisory Council of the National Advisory Group for Police Transformation Development of the Philippine National Police. He has also been a Director of the Junior Golf Foundation of the Philippines since 2010 and serves as Vice Chairman since 2017.
He earned a Bachelor’s Degree in Business Administration from the University of Notre Dame in 1985. He also received his MBA in 1989 and MAs International Relations in 1997, both from the University of Chicago.
(Antonino T. Aquino)
Antonino T. Aquino, Filipino, 71, has served as Director of ALI since April 2009.
He is also a Director of Manila Water Company, Inc. (MWC), another publicly listed company, since 1998. He was the President of ALI from April 2009 to April 2014, MWC from April 1999 to April 2009, and Ayala Property Management Corporation from 1989 to 1999. He has served the Ayala group in various capacities for 38 years.
Currently, he is a Board member of Nuevocentro, Inc., Anvaya Beach & Nature Club and Mano Amiga Academy, Inc.
He is also a private sector representative in the Multi Sectoral Advisory Board of the Philippine Army and the Multi Sector Governance Council of the Armed Forces of the Philippines. He was named “Co-Management Man of the Year 2009” by the Management Association of the Philippines for his leadership role in a very successful waterworks privatization and public-private sector partnership. In 2015, Mr. Aquino was elected as Director of The Philippine American Life and General Insurance Company (Philam).
He earned a degree in BS Management and completed academic requirements for Masters in Business from the Ateneo de Manila University in 1968 and 1975, respectively.
(Arturo G. Corpuz)
Arturo G. Corpuz, Filipino, 63, has served as a Director of ALI since April 2016.
He was a member of the Management Committee of ALI from 2008 to December 31, 2016.
He is also a member of the Board of Ceci Realty, Inc. Aurora Properties, Inc., Vesta Properties Holdings, Inc., Nuevocentro, Inc., Next Urban Alliance Development Corp. and Alviera Country Club, Inc.
He is a former President of the Philippine Economic Society and a Fellow of the Foundation for Economic Freedom and the Philippine Institute of Environmental Planning.
Mr. Corpuz received his baccalaureate degree in Architecture from the University of the Philippines in 1977 and his masteral and doctoral degrees in urban and regional planning from Cornell University in 1984 and 1989.
(Delfin L. Lazaro)
Delfin L. Lazaro, Filipino, 72, has served as a member of the Board of ALI since May 1996.
He is a Director of publicly listed companies namely, Ayala Corporation, Integrated Micro-Electronics, Inc. Manila Water Company, Inc., Globe Telecom, Inc.
His other significant positions are Chairman of Atlas Fertilizer & Chemicals, Inc.; Chairman and President of A.C.S.T. Business Holdings, Inc.; Vice Chairman and President of Asiacom Philippines, Inc.; and Director of AYC Holdings, Inc. Ltd., AC International Finance, Ltd., Purefoods International, Ltd., AC Industrial Technology Holdings. Inv., Probe Productions, Inc.
He graduated with BS Metallurgical Engineering at the University of the Philippines in 1967 and took his MBA (with Distinction) at Harvard Graduate School of Business in 1971.
(Jaime C. Laya)
Jaime C. Laya, Filipino, 79, has served as an Independent Director of ALI since April 2010 and as its Lead Independent Director since April 2017.
He is member of the Board of Directors of publicly listed companies, being Independent Director of GMA Network, Inc., GMA Holdings, Inc. and Manila Water Company, Inc. and Regular Director of Philippine Trust Company (Philtrust Bank).
His other significant positions are: Chairman and President of Philtrust Bank, Independent Director of Philippine AXA Life Insurance Co., Inc. and of Charter Ping An Insurance Corporation; and Trustee of Cultural Center of the Philippines, St. Paul’s University – Quezon City, Ayala Foundation, Inc., Escuela Taller de Filipinas Foundation, Inc., Fundación Santiago, and other non-profit, non-stock corporations.
He graduated magna cum laude from University of the Philippines in 1957 with a degree in B.S.B.A. (Accounting) and completed his M.S. in Industrial Management at Georgia Institute of Technology in 1960 and his Ph.D. in Financial Management at Stanford University in 1967.
He has served as Minister of the Budget, Minister of Education, Culture and Sports, Governor of the Central Bank of the Philippines, Chairman of the National Commission for Culture and the Arts, and Professor and Dean of Business Administration of the University of the Philippines.
(Rizalina G. Mantaring)
Rizalina G. Mantaring, Filipino, 59, has served as an Independent Director of ALI since April 2014.
Concurrently, she also holds the following positions: Chairman, Sun Life Financial Philippine Holding Co. Inc.; Chairman, Sun Life Financial Philippines Foundation Inc.; Director, Sun Life Grepa Financial, Inc.; and Independent Director of First Philippine Holdings Corp. Inc., East Asia Computer Center Inc., Roosevelt College Inc., and Microventures Foundation Inc.
She is also President of the Management Association of the Philippines and a member of its Board of Governors; and a member of the Makati Business Club Board of Trustees and Philippine Business for Education Board of Trustees.
A recipient of the Asia Talent Management Award in the Asia Business Leaders Award organized by the global business news network CNBC, she has also been recognized by the International Association of Business Communicators (Philippines) with the CEO Excel award, was named by Moneysense Magazine as one of the 12 Most Influential in Personal Finance, and was selected as one of the 100 Most Outstanding Alumni of the past century by the University of the Philippines College of Engineering.
She holds a BS Electrical Engineering degree from the University of the Philippines where she graduated with honors in 1982. She obtained her MS degree in Computer Science from the State University of New York at Albany in 1993.
Cesar V. Purisima, Filipino, 58, was appointed as an Independent Director of ALI. in April 18, 2018.
He is an Asia Fellow at the Milken; Independent Director of AIA Group Limited; Independent Director of Universal Robina Corporation; Member of the Global Advisory Council of Sumitomo Mitsui Banking Corporation; Executive-in-Residence of the Asian Institute of Management; Member of the Boards of Trustees of International School, Manila and De La Salle University; Member of International Advisory Council (Phils.), Singapore Management University; and Advisor of the Partners Group AG LIFE Council.
He served the Philippine Government as a Secretary of Finance from February 2005 to July 2005 and from July 2010 to June 2016. As Secretary of Finance, he also served as a member of the Monetary Board of the Bangko Sentral ng Pilipinas, Governor for the Philippines of the World Bank Group and Asian Development Bank; and Chairman of various public finance sectors.
He was also the Head of the Cabinet Economic Development Cluster of the Philippines from July 2010 to June 2016. He also served as the Secretary of the Department of Trade and Industry from January 2004 to February 20015. He was also the Alternate Governor for the International Monetary Fund.
Prior to his stint in the government service, he was the Chairman & Country Managing Partner of SGV & Co., and was a member of the Global Executive Board and Global Practice Council of Ernst & Young.
Mr. Purisima obtained his Bachelor of Science degree in Commerce Major in Accounting and Financial Institutions from De La Salle University in 1979 and was among the top placers in the 1979 CPA Board Examination. He earned his Master of Business Administration degree from Kellogg School of Management, Northwestern University, Illinois in 1983 and was conferred the Doctor of Humanities Honoris Causa by Angeles University in 2012.