Manual Corporate Goverance
Pursuant to Article 9 of the Revised Code of Corporate Governance, the Manual on Corporate Governance (the “Manual”) of the Company was approved by the Board of Directors on March 5, 2015.
The monitoring of the implementation of the evaluation system of the Company to measure and determine the adherence to and the level of compliance of the Board of Directors and top level management with the Manual is vested by the Board of Directors in the Compliance Officer.
The Compliance Officer is appointed by the Board of Directors. He is responsible for monitoring compliance by the Company with the provisions and requirements of the Manual and the rules and regulations of the relevant regulatory agencies and ensures adherence to corporate principles and best practices. The Compliance Officer holds the position of a Vice President or its equivalent and has direct reporting responsibilities to the Chairman of the Board of Directors. The Compliance Officer has certified that the Company has substantially adopted all the provisions of the Manual on Corporate Governance.
Pursuant to its commitment to good governance and business practice, the Company shall continue to review and strengthen its policies and procedures, giving due consideration to developments in the area of corporate governance which it determines to be in the best interests of the Company and its stockholders.
Under the implementing rules and regulations of the SRC, an independent director is defined as a person who, apart from his fees and shareholdings, is independent of management and free from any business or other relationship which could, or could reasonably be perceived to, materially interfere with his exercise of independent judgment in carrying out his responsibilities as a director. An independent director must satisfy the qualifications and must have none of the disqualifications of an independent director set out in the SRC and its implementing rules and regulations, the Manual, the amended articles of incorporation and amended by-laws of the Company.
Under the present SEC policy, the Company is required to have at least two independent directors in its Board of Directors. The Manual, in turn, requires at least two independent directors to serve on the Audit Committee of the Company and one independent director on each of the Nomination and Hearing Committee and Executive Compensation Committee.
Justice Consuelo Ynares-Santiago and Justice Francisco H. Villaruz are the independent directors of the Company.
Mission, Vision and Values
As a subsidiary of San Miguel Corporation, SLTC aligns its Mission and Vision with that of its parent corporation.
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Corporate Social Responsibility
As a subsidiary of San Miguel Corporation, SLTC aligns its Corporate Social Responsibility with that of its parent corporation.
Click here to go to the Corporate Social Responsibility
Code of Business Conduct and Ethics
As a subsidiary of San Miguel Corporation, SLTC aligns its Code of Business Conduct and Ethics with that of its parent corporation.
Click here to go to the Code of Business Conduct and Ethics.