The Board's remuneration is set at an optimum level to attract and retain high-caliber directors who continuously and effectively deliver services as such. In accordance with Globe's By-Laws, the Board receives, pursuant to a resolution of the stockholders, fees, and other compensation for their services as directors and members of committees of the Board of Directors.
In accordance with our Manual of Corporate Governance and the Charter of the Board of Directors, no director participates in discussions or deliberations involving his/her own remuneration. Our directors, including the independent Non-Executive Directors (NEDs), do not receive options, performance shares, or bonuses other than their per diem remuneration as directors. Meanwhile, our executive director does not receive per diem remuneration in addition to his remuneration as part of the Globe senior management in his role as the President and CEO.
Globe Telecom's directors receive ₱200,000 per diem remuneration for every Board meeting and stockholders' meeting attended. This rate was based on a benchmark study against industry rates as well as a previous study in 2010 to standardize the pay of Boards of Directors across the Ayala Companies. The per diem remuneration of directors remains at ₱100,000 for every committee meeting attended or such meetings other than those mentioned above. Our stockholders ratified this resolution at our regular Annual Stockholder Meeting (ASM) in April 2014.
The following NEDs, who were elected at the ASM on April 25, received gross per diem remuneration for attending Board and Committee meetings in 2023:
Gross Per Diem Remuneration (in PHP) | ||
|---|---|---|
| Director | Meetings | Retainer Fee |
| Jaime Augusto Zobel de Ayala | 1,200,000.00 | 6,084,000.00 |
| Tan Mee Ling Aileen | 1,100,000.00 | 3,042,000.00 |
| Cezar P. Consing | 2,000,000.00 | 3,042,000.00 |
| Jaime Alfonzo Antonio Zobel de Ayala | 1,700,000.00 | 3,042,000.00 |
| Delfin L. Lazaro | 1,400,000.00 | 3,042,000.00 |
| Ng Kuo Pin | 2,000,000.00 | 3,042,000.00 |
| Cirilo P. Noel | 2,300,000.00 | 4,576,000.00 |
| Natividad N. Alejo | 1,700,000.00 | 3,042,000.00 |
| Ramon L. Jocson | 1,600,000.00 | 3,042,000.00 |
| Antonio Jose U. Periquet, Jr. | 1,700,000.00 | 3,042,000.00 |
| Lee Yoong Keong Allen | 700,000.00 |
|
| Romeo L. Bernardo | 800,000.00 |
|
| Saw Phaik Hwa | 1,100,000.00 |
|
| Rex Ma. A. Mendoza | 1,100,000.00 |
|
| TOTAL | 20,400,000.00 | 34,996,000.00 |
BOARD OF DIRECTORS
Jaime Augusto Zobel de Ayala
Chairman, Non-executive Director
Tan Mee Ling Aileen
Co-Vice Chair, Non-Executive Director
Cezar P. Consing
Co-Vice Chair, Non-Executive Director
Carl Raymond R. Cruz
Executive Director, President and CEO
Jaime Alfonso Antonio Zobel de Ayala
Non-Executive Director
Delfin L. Lazaro
Non-Executive Director
Ng Kuo Pin
Non-Executive Director
Natividad N. Alejo
Non-Executive and Independent Director
Ramon L. Jocson
Non-Executive and Independent Director
Antonio Jose U. Periquet, Jr.
Non-Executive and Independent Director
Cirilo P. Noel
Non-Executive and Lead Independent Director
Board of Directors
Board Meetings
Board Performance
