2014 Messages

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EDC 2014 Performance Report our employees updated through more regular townhall meetings, an expanded-Labor Management Council, and use our annual Leaders’ Assembly to keep our leaders informed on the company’s business objectives and aspirations. In addition, as a key component of EDC’s transformation journey and to get 100% of the employees on board EDC’s strategic directions, we launched the PowerUp sessions in the second half of last year. PowerUp is a three-day event that provides employees with key information about our industry, where the company is going, and how we intend to get there through our growth strategies. We spend a whole day on our Lopez Values and end the third day with the Employee Value Proposition, which proposes a compelling employee total experience anchored on partnership, resilience, rewards, wellbeing, and higher intent. As of today, around 966 employees or 40% of EDC’s total employee population, have completed PowerUp. Based on the feedback we have gathered, this is most likely our most potent program for changing our culture, engaging our employees and gaining alignment. As a result of all this focus, in 2014, our employee engagement score, measured using the Sustainable Engagement Model of Towers Watson, shot up to 88%, now a full 3% higher than the Philippine national norm, 9% higher than 41 energy and utility companies that make up global best benchmarks, and 4% higher than the 27 highest performing companies that make up global best benchmarks. Why is all this important? It is crucially important because engagement is ultimately the employee saying that they are willing to expend significant discretionary effort for the good of the company. It is the employee confirming that they have the support, tools, and information they need to succeed. It is the employee confirming that at EDC, while they are at work, they are energized and inspired. This phenomenal change over the past four years augurs well for our culture and our future. 6 BUSINESS UNITS: DRIVERS OF PERFORMANCE AND ACCOUNTABILITY The sixth building block is our decision to change our business model from being a functionally driven value chain, to a business unitdriven enterprise. This shifted decision-making from the Head Office to the business units where employees have a better visibility of the facts and a richer understanding of the context. This allowed business units to manage costs better, make the speed of decision-making responsive and make people accountable for the bottom line. Business units now also have control and accountability for their health, safety, and environmental performance. EDC’s senior management team sets the targets and objectives to help guide the different business units. These targets are monitored and reported on a regular basis. While we have made drastic changes in the organizational structure, particularly in the last three years, the transformation is still far from complete. We are now embarking on several process changes that will make the new business model more effective and efficient. 7 LED BY ABLE LEADERS The final building block I would like to mention is our management team. None of the positive results I mentioned above would have been possible without the leadership of EDC’s senior management team. While it is a bit unusual to delve into this in detail, I would like to describe each of them briefly. Ernie Pantangco, our energetic EVP, is a mechanical engineer, troubleshooter and spokesperson for and shaper of the electricity industry of the Philippines. Ernie is a member of our board of directors and has an MBA from AIM. Nestor Vasay, our SVP, CFO, and Treasurer, comes to EDC by way of First Gen and JPMorgan Chase. Nestor, my alter ego, is an accountant by training. He heads the crucial finance function as well as insurance and the supply chain. Nestor is known by many as the “enforcer” given how seriously he takes his comptrollership role to heart. Dom Camu, our SVP who worked internationally for GE O&M and Covanta, now heads our largest 12
EDC 2014 Performance Report business unit in Leyte. Dom, a mechanical engineer from Mapua Institute of Technology, who came to EDC via First Gen, is also a consummate crisis manager. Dom is known for burning the candle on both ends. Fortunately, this highly energetic officer has a four-sided candle. Jimmy Villaroman has an MBA from the University of Western Ontario and a Six Sigma Black Belt. He came to us through Exxon Mobil Canada, where he was the Regional Head of Corporate Planning and Business Analysis. Jim, an AVP, now concurrently heads Negros Island Geothermal Business Unit and the Mount Apo Geothermal Business Unit, which he turned around in the two years he has been with us. Mark Habana, our AVP, formerly Manager of Business Development of Occidental Petroleum, is also a mechanical engineer and an MS Petroleum Engineering graduate of Stanford University. Mark, a Cebuano who speaks the vernacular of Leyte, started his career in geothermal and is excited to be back, as deputy head in Leyte. Reman Chua, who has an MBA from AIM, is an AVP and heads our Ilocos Norte Business Unit, which last year commissioned the country’s largest wind farm: the 150MW Burgos Wind Project. Reman led a team to complete our first wind project and secure the Feed-in Tariff by completing it ahead of the competition. Reman, who is full of dynamism and energy, will lead the efforts to expand the company’s wind portfolio over the coming years. Jay Soriano, who has an MBA from Harvard University, comes to us from a non-energy background, with experience in strategic planning, business development, and other commercial functions, and has led diverse teams in international markets. Jay, an AVP, now heads the Bacman Geothermal Business Unit, where he is leading major organizational changes and multiple growth initiatives. Beth Nasol, our VP for HR, is one person in the field whom I can truly describe as having deep domain expertise from her 35 years of experience. Beth is a true capability and capacity builder in addition to being an effective and proactive change agent. Much of the improvement in the employee engagement can be credited to programs that she has put in place. Rassen Lopez, our VP for Legal and Regulatory, came to us from an assignment in the Senate as chief of staff of a senator and prior to that, through First Gen. Atty. Rassen is a commercial driver for the company because he does not think of himself as just a lawyer. He is, in equal parts, a lawyer, risk officer, and commercial thinker. Ernie Pantangco Dom Camu Mark Habana Jay Soriano Rassen Lopez Nestor Vasay Jimmy Villaroman Reman Chua Beth Nasol 13
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2014 Messages

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