GOVERNANCE


Corporate Governance

CPVDC has been a listed company with the Philippine Stock Exchange (PSE) since 1992 and is in full compliance with the Code of Corporate Governance as mandated by the Securities and Exchange Commission (SEC). This code specifies the roles, duties, and responsibilities of the Board of Directors in line with Philippine laws, and is fully consistent with the recognized principles of good corporate governance.

Over the past 26 years, we have strived to move beyond compliance by constantly strengthening our policies and practices related to corporate governance, business ethics, and risk management. Today, CPVDC takes pride in how it has embedded good governance strategies into the company’s culture and daily operations.

Among various measures, CPVDC exceeded regulatory checklists this year by creating a separate Board-level Risk Committee, and developing committee charters for the Executive Committee, Nomination Committee and Personnel and Compensation Committee. In addition, we appointed a Chief Risk Officer separate from our Chief Finance Officer. We also released our financial statement within 60 days of the financial yearend.

As a result, the PSE has once again recognized our efforts by naming CPVDC as one of the winners of the Fifth PSE Bell Awards. This accolade follows our nomination as finalist in the previous year’s awards. With this honor, we are even more inspired to reach new heights of transparency and ethical business practices for all our shareholders, immediate communities, and broader stakeholder base.