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Aboitiz listed companies get gold awards in ICD Corporate Governance Scorecard
Wednesday, July 4, 2012
ALL GOLD. The three publicly listed companies of the Aboitiz Group--Aboitiz Equity Ventures, Inc. (AEV), Aboitiz Power Corporation and Union Bank of the Philippines--have been conferred the Gold Award by the Institute of Corporate Directors for complying with corporate governance rules and globally accepted practices. AEV Chairman Jon Ramon Aboitiz accepted the award during the 9th Annual Dinner at The Peninsula Manila recently. Flanking Aboitiz are (from left) Founder and Chairman of The Institute of Corporate Directors (ICD) Dr. Jesus P. Estanislao, Securities and Exchange Commission (SEC) Chairperson Atty. Teresita J. Herbosa and Philippine Stock Exchange, Inc. (PSE) President Hans B. Sicat.
Aboitiz Equity Ventures, Inc. (AEV) and Aboitiz Power Corporation (AboitizPower) are now among the distinct group of corporations that have been conferred with the Gold Award by the Institute of Corporate Directors (ICD).
The ICD’s Corporate Governance Scorecard for Publicly Listed Companies gives a Gold rating to companies that have garnered scores of at least 95% in their compliance with corporate governance rules and globally accepted practices.
AboitizPower posted notable increase in its score, from 96.9% in 2010 to 98.94% in 2011. AEV’s score, meanwhile, slightly dropped from 98.4% in 2010 to 98.28% last year.
ICD’s Corporate Governance (CG) Scorecard measures the compliance of publicly listed companies in five categories—rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure & transparency, and Board responsibility.
This year’s awardees were honored during its 9th Annual Dinner at the Rigodon Ballroom of The Peninsula Manila last May 30. Accepting the awards were AEV Chairman Jon Ramon Aboitiz for AEV, and AboitizPower SVP for Power Marketing & Trading Luis Miguel Aboitiz for AboitizPower.