ABS-CBN chief compliance officer Paul Michael Villanueva (center) with ICD officialsABS-CBN was honored again for its good corporate governance alongside other top Philippine publicly-listed companies after it received an ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow from the Institute of Corporate Directors (ICD).
ABS-CBN was included for the third time as one of the outstanding domestic publicly-listed companies that are well-managed and compliant with government regulations based on the 2021 ACGS assessment results for 2020 operations. The company also received ACGS Golden Arrows for its 2018 and 2019 operations.
The ACGS is an assessment tool used in participating ASEAN nations like the Philippines to determine if an organization is being managed well and compliant with government regulations. Among the factors considered in the assessment are a company’s policies and practices on the rights of shareholders, responsibilities of the board and disclosure and transparency, among others.
Chief compliance officer Paul Michael Villanueva accepted ABS-CBN’s award during the award ceremony held at the Sheraton Manila Hotel. Aside from ABS-CBN, the following members of the Lopez Group also received Golden Arrows for 2022: First Gen Corporation, First Philippine Holdings Corporation and Lopez Holdings Corporation.
(Story/Photos by:Kane Choa)