EDC 2014 SR (UPDATED)

EDC 2014 Performance Report
2.
Board Committee’s Self-Assessment
a) Objective. The Board Committee’s Self Assessment is intended to review the board committee’s effectiveness in carrying out its mandate
according to its charter.
b) Criteria. The criteria for the Board Committee’s Self-Assessment are primarily based on the committees’ effectiveness in carrying out
its functions, their adherence to protocols, their focus to achieve company goals and the exercise of their collective judgment about
important matters. We also take into account the performance assessment of the Audit and Governance Committee prescribed in SEC
Memorandum Circular No. 4, series of 2012.
c) Result Summary. In the 2014 Board Committee’s Self-Assessment, the participants strongly agree that the Board Committees’ mandate,
roles, processes and procedures are clearly defined in their charters and continue to be responsive to the needs of EDC. The participants
likewise consider that the Board Committees were able to conduct sufficient number of meetings of reasonable length that enabled
them to consider relevant issues.
3.
4.
Individual Director’s Self-Appraisal
a) Objective. The Individual Director’s Self-Appraisal is designed to help each director in reviewing his performance and contribution
to the Board’s effectiveness. The Individual Director’s questions focus on each Director’s obligation under our Corporate Governance
Manual and Code of Conduct and are aligned with the leading practices on corporate governance principles being promoted by the
SEC and the PSE.
b) Criteria. The criteria for the Individual Director’s Self-Appraisal are primarily based on the OECD and ASEAN corporate governance
principles of fairness, accountability, transparency, equitable treatment of shareholders and recognition of the roles and rights of all
stakeholders. It also aimed to measure leadership and business knowledge and expertise, Board and committee focus, strategy, and
working relationship with the Management.
c) Result Summary. The 2014 Individual Director’s Self-Assessment indicates that the participants perceived themselves to have shown
independent-mindedness, high integrity, stewardship and loyalty to their duties to all stakeholders.
Chairman’s Evaluation
a) Objective. The Chairman’s Evaluation is designed to identify the Chairman’s strengths, including areas that should be further developed
based on opinions by the Board participants.
The summary of the evaluation results are reported to the Board, through the Audit and Governance Committee, who, in turn develops
recommendations for Board consideration or action, whenever necessary.
b) Criteria. The criteria for the Chairman’s Evaluation are primarily based on the Chairman’s performance in carrying out his mandate, his
ability to promote effective participation among the Board members, his leadership and communication skills in terms of fostering
collegiality of Board members, and his working relationship with the President.
c) Result Summary. In evaluating the Chairman’s performance, the participants strongly agreed on the Chairman’s good leadership and
communication skills and good working relationship with EDC’s president.
5.
President’s Evaluation
a) Objective. The President’s Evaluation is intended to review the President’s performance primarily focused on leadership, management
style, business acumen, and working relationship with the Board. It also includes a qualitative section whereby directors were asked to
give their views on the President on the following:
• President/COO’s major accomplishments over the past year, and identify the traits/skills the President / COO exhibited in making
them happen Board Committee’s Performance
• President/COO’s key goals for the past year and the status of achievement of each
• Areas where the President/COO could improve personal performance and how those areas could be developed; and
• President/COO’s key goals for the organization in the upcoming year and an outline of how each goal will be accomplished
b) Criteria. The criteria for the President’s Evaluation are primarily based on the President’s leadership and management skills, his working
relationship with the Board and his financial management skills.
c) Result Summary. The 2014 Integrated Corporate Governance Evaluation for the President’s performance shows that the participants
recognized the President’s strong working relationship with the Chairman, and appreciated the regular updates given to the Board
and all the stakeholders on EDC’s vision, mission, priorities, performance, issues and opportunities. The President also received high
scores for having a clear vision, mission, goals, action plans, strategies and directions for EDC. His management skills, financial expertise
and capacity to cooperate and work closely with the Board were likewise highly recognized by the participants. The participants also
emphasized the President’s leadership skills, particularly for leading a planning process that is consistent with said vision and mission,
and for leading a performance management process that ensures accountability and midcourse corrections in goals and strategies as
may be necessary.
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