General Announcement::Changes in the Board of Bank of the Philippine Islands

Issuer & Securities

Issuer/ Manager
BANK OF THE PHILIPPINE ISLANDS
Securities
BANKOFPHILIS US$600M4.25%N2309 - XS1841618421 - FNDB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
18-Aug-2022 09:35:33
Status
New
Announcement Sub Title
Changes in the Board of Bank of the Philippine Islands
Announcement Reference
SG220818OTHRIJTW
Submitted By (Co./ Ind. Name)
Maria Ramona O. Ang
Designation
Investor Relations Officer
Description (Please provide a detailed description of the event in the box below)
At the regular meeting of the Board of Directors (the Board ) of Bank of the Philippine Islands held today, 17 August 2022, the Board accepted the resignation of Mr. Eli M. Remolona, Jr. as Director, thereby rendering his resignation effective as of even date. Subject to approval of the Bangko Sentral ng Pilipinas (BSP), Mr. Octavio V. Espiritu was appointed by the Board as Interim Chairman of the Risk Management Committee vice Mr. Remolona.

Further, the Board likewise approved the medical leave of absence of Mr. Fernando Zobel de Ayala as Vice Chairman of the Board, and resignation as Chairman of the Personnel and Compensation Committee, Vice Chairman of the Executive Committee, and member of the Nominations Committee. He remains a member of the Board of Directors.

The Board appointed Mr. Cezar P. Consing as Acting Vice Chairman of the Board while Mr. Fernando Zobel de Ayala is on medical leave. Mr. Consing was also appointed Vice Chairman of the Executive Committee. Mr. Fernando Zobel de Ayala s replacement in the Personnel and Compensation Committee and the Nominations Committee will be appointed in due course.

The ff. regulators have also been duly informed of the same:
1. Philippine Stock Exchange (PSE)
https://edge.pse.com.ph/openDiscViewer.do?edge_no=338e99c6083b27933470cea4b051ca8f
2. Philippine Dealing and Exchange Corporation (PDEx)

Attachments

SEC 17-C Results of 17 August 2022 Meeting of the Board.pdf
Total size =404K