PLDT 2022 ANNUAL REPORT
A
2022 ANNUAL REPORT
Thriving Amidst Adversity
PLDT is the Philippines’ largest fully integrated telecommunications company. Through
its principal business groups – from fixed line to wireless – PLDT offers a wide range of
telecommunications and digital services across the Philippines’ most extensive fiber optic
backbone, and fixed line and wireless networks.
PLDT is listed on the Philippine Stock Exchange (PSE:TEL) and its American Depositary
Shares are listed on the New York Stock Exchange (NYSE:PHI). PLDT has one of the largest
market capitalizations among Philippine listed companies.
Products & Services
Fixed Line
• Broadband
• Corporate Data
• Voice
Wireless
• Mobile (Data, Voice, SMS)
• Wireless Broadband
• Wireless Platforms
• Internet of Things Solutions
ICT
• Data Center
• Cloud Tech Services
• Cybersecurity
Others
• Digital Platforms
Cover Story
Through our culture of innovation, we strive to
enable the nation with our customer-focused
solutions that empower and unleash every
Filipino’s infinite potential.
PLDT 2022 ANNUAL REPORT
A
2022 ANNUAL REPORT
Thriving Amidst Adversity
Our Purpose
We are a Filipino company, inspiring innovation and meaningful connections through generations.
Our Vision
We aspire to be a happy space using technology to empower and build bridges of collaboration across sectors
and communities towards a sustainable future.
Our Mission
Our people deliver meaningful connections and experiences for our customers to live a fuller life.
Our Values
The Customer is our North Star.
• We all work together for customer happiness.
• We go the extra mile to build meaningful connections.
• We enable our employees to drive great customer experiences.
We trust each other to do the right thing.
• We empower and equip our people to make decisions.
• We are transparent yet respectful with each other even in difficult conversations.
• We keep our promises.
We are one.
• We seek out the voice of others before making our voices heard.
• We tap on each other’s uniqueness to turn our differences into strengths.
• We check our biases regularly.
Our people are our family.
• We have fun at work and celebrate big or small achievements together.
• We invest time in building ourselves and those around us.
• We create a safe space to be our best selves at work.
Malasakit is our strength.
• We prioritize the wellbeing of our people.
• We go out of our way to help those in need.
• We care for the business like it’s our own.
Together, we can do great things at speed.
• We innovate, fail fast, and pause to learn.
• We make choices to enable quick execution.
• We collaborate and build partnerships.
Contents
02 Comparative Highlights
03 Consolidated Financial Performance Highlights
04 Message from the Chairman
06 Report of the President and CEO
10 Awards and Recognitions
13 Corporate Milestones
21 Corporate Social Responsibility
24 People and Culture
28 Corporate Governance Report
53 Enterprise Risk Management
56 Board of Directors
59 Advisory Board
60 Executive Officers
63 Leadership Transformation Team
64 Officers
66 Financial Review
67 Contact Information
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PLDT 2022 ANNUAL REPORT
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PLDT 2022 ANNUAL REPORT
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FINANCIAL INFORMATION
2022
2021
2020
2019
2018
(in million pesos, except cash dividends declared per common share)
Revenues
205,245
193,257
181,004
169,187
162,914
Service revenues
196,227
185,751
173,634
161,355
152,369
Non-service revenues
9,018
7,506
7,370
7,832
10,545
Expenses
210,746
152,496
144,822
129,786
149,141
Selling, general and administrative expenses
85,304
78,303
75,255
68,230
73,916
Depreciation and amortization
98,714
52,169
47,480
39,656
47,240
Cost of sales and services
14,517
13,341
12,295
13,429
14,427
Provisions
5,570
4,584
7,380
4,542
5,720
Interconnection costs
6,104
3,698
2,146
3,638
5,493
Asset impairment
537
401
266
291
2,345
EBITDA
93,945
95,900
86,158
79,815
64,027
EBITDA, excluding MRP
100,478
96,169
88,783
83,111
68,262
Telco core income
33,116
30,233
28,087
27,080
24,047
Core income
30,567
29,937
27,129
25,111
25,855
Net income
10,735
26,676
24,580
22,786
18,973
Capital expenditures
96,810
88,983
71,904
72,871
58,490
Short and Long-term debts
249,580
252,557
222,765
192,556
176,276
Net Debt
223,390
225,802
180,386
167,873
123,457
Net Equity attributable to equity holders of PLDT
108,727
123,216
115,408
111,987
112,358
Cash dividends declared per common share
out of the earnings for the year
134
84
78
75
72
OPERATING INFORMATION
Number of mobile subscribers
66,304,761
71,221,952 72,933,839
73,118,155 60,499,017
Number of fixed line subscribers
3,825,424
3,619,372
3,042,815 2,765,209
2,710,972
Number of broadband subscribers
3,992,303
3,951,844
3,090,118
2,161,484
2,025,563
Fixed Wireless
744,324
984,958
816,516
230,151
213,526
Fixed Line
3,247,979
2,966,886
2,273,602
1,931,333
1,812,037
Total number of subscribers
74,122,488 78,793,168 79,066,772 78,044,848 65,235,552
Number of stockholders
11,427
11,510
11,575
11,596
11,658
Number of employees:
17,155
18,822
18,848
18,784
17,222
Wireless
4,724
5,433
5,783
5,907
6,332
Fixed Line
12,431
13,389
13,065
12,877
10,890
Comparative
Highlights
PLDT 2022 ANNUAL REPORT
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SERVICE REVENUES
(in billion pesos)
190
170
150
130
110
90
70
50
30
10
0
2022
2021
2020
2019
2018
196.2
EBITDA, EXCLUDING MRP
(in billion pesos)
100
90
80
70
60
50
40
30
20
10
0
2022
2021
2020
2019
2018
100.5
96.2
88.8
83.1
68.3
MARKET CAPITALIZATION
(Year-end, in billion pesos)
400
350
300
250
200
150
100
50
0
2022
2021
2020
2019
2018
284.5
391.5
289.5
213.5
243.1
TELCO CORE INCOME
(in billion pesos)
30
25
20
15
10
5
0
2022
2021
2020
2019
2018
33.1
30.2
28.1
27.1
24.0
DIVIDEND PER SHARE
(in pesos)
140
120
100
80
60
40
20
0
2022
2021
2020
2019
2018
134
84
78
75
72
WIRELESS
FIXED LINE
OTHERS
95.1
98.5
95.7
101.2
87.3
77.9
88.3
80.3
73.1
71.0
1.1
185.8
173.6
161.4
152.4
Consolidated Financial
Performance Highlights
74.1
SUBSCRIBER BASE
(in millions)
80
70
60
50
40
30
20
10
0
2022
2021
2020
2019
2018
MOBILE
FIXED LINE
BROADBAND
66.3
3.8
4.0
71.2
4.0
72.9
3.1
3.1
73.1
2.8
60.5
2.7
78.8
79.1
78.0
65.2
3.6
2.1
2.0
PLDT 2022 ANNUAL REPORT
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MESSAGE FROM THE CHAIRMAN
Thriving
Amidst Adversity
T
he year 2022 brought with it internal and external
challenges for PLDT. Across the world, crises
abounded—fed by the war in Ukraine, geopolitical
tensions with China and North Korea, continuing
conflicts in the Middle East and parts of Africa—and the
inevitable consequences of rising inflation and unsteady
financial markets.
We all had to tighten our belts. This was the practical
impact of steeper interest rates and faster inflation.
Industries—ours included—had to fight harder for
precious real estate in the wallets of Filipinos—as
households and as consumers. PLDT must now laser-
focus on products that can compete in the market from
cost to serve and consumer benefit perspectives.
Despite the internal and external challenges, PLDT
reported another record year of results: our core
business units finished the year with historic high
consolidated revenues, gaining improvements in
revenues for Home and Enterprise, and higher EBITDA.
Such results only strengthen our resolve to deliver
the products and services that our consumers need
to keep families, businesses and industries connected
and digitally enabled.
In parallel with Government’s digital initiatives, PLDT is
focused in providing connectivity needed to transform
the Philippine economy into a digital economy. We
believe that such transformation can only happen with
the help of strong network and digital infrastructure
from telcos such as PLDT. The company will continue
to support the digital adoption of financial services
such as payments, savings, and credit as an essential
component of the digital economy and will provide the
required connectivity and broadband services.
Coming off a record year with all-time high service
revenues of Php 190.1 billion, our EBITDA (excluding
Manpower Rightsizing Program) breached Php 100
billion for the first time, with EBITDA margin at 51% -
one of the highest in the region.
We plan to achieve our revenue and growth targets in
the coming years by further improving and managing
our costs, raising efficiencies, and launching innovative
products and services that will accelerate the creation
and growth of the digital economy..
Our Home Broadband business has been a growth
catalyst for the past two years.
As for our Enterprise business, we envisage ePLDT
becoming a regional presence in the cloud business.
Our data centers will likewise drive growth, as we
pursue an active expansion program in this space. Our
Wireless business is likely to remain challenged, on the
back of a tougher economic environment.
We were able to maintain our full year dividend payout
of 60% of Telco Core Income, equivalent to Php 92 per
share. Additionally, we declared a Special Dividend
of Php 42 per share, out of the proceeds of the first
round of tower sales launched in 2022. Thus, the total
dividend payout for 2022 was 88%.
Conclusion
As we approach our 100th year, we forge ahead in
pursuit of the Group’s north star— enabling a digital
life for every Filipino and becoming a partner to
the Government in transforming the economy into
a digital economy that will usher in a new age of
entrepreneurship, create an expanded base for the
middle class and democratize access to a better life
and prosperity for every Filipino.
To My Fellow Shareholders,
PLDT 2022 ANNUAL REPORT
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MANUEL V. PANGILINAN
Chairman of the Board
PLDT 2022 ANNUAL REPORT
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We plan to achieve our revenue
and growth targets in the
coming years by further
improving and managing our
costs, raising efficiencies,
and launching innovative
products and services
that will accelerate the
creation and growth of
the digital economy.
PLDT 2022 ANNUAL REPORT
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REPORT OF THE PRESIDENT AND CEO
W
e look back at 2022 as a year defined by
transformation.
In this spirit, the past year marked the launch of our
own transformation at PLDT and Smart. We recognize
that our environment is rapidly changing and that the
formula for success moving forward will be different
from that of the past.
The starting point of our aspirational multi-year
transformation has shown gains across each of our
five strategic pillars: Elevating customer experience,
improving PLDT and Smart’s standing as a premier
workplace in the Philippines, establishing industry-
leading operational excellence, growing profits through
new businesses and capabilities, and making PLDT
Group the region’s leading ESG telco.
Our successes have enabled us to weather strong
challenges throughout 2022: Our core business
remains to be sound, and continues to show solid
EBITDA numbers. We have an excellent network,
strong brands, and attractive products. Wireless is
simplifying its portfolio, Home continues to expand
beyond connectivity, and Enterprise is pursuing its
digital transformation initiatives.
The PLDT Group joins the Government in transforming
the Philippine economy into a digital economy where
opportunities abound to create a stronger middle
class and where access to education and opportunities
is available to all Filipinos through the power of
connectivity and the internet.
To My Fellow Shareholders,
Transforming
the Nation
PLDT 2022 ANNUAL REPORT
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PLDT 2022 ANNUAL REPORT
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Historic Highs in Revenue & EBITDA,
Landmark Tower Deals
PLDT emerged from the first year of our transformation
stronger and better equipped for the journey ahead.
We achieved a new all-time high in 2022 with
Consolidated Net Service Revenues of Php 190.1 billion,
an increase of 4% from 2021. Telco Core Income rose
by 10% to Php 33.1 billion, while we crossed a historic
milestone by surpassing the Php 100-billion mark in
consolidated EBITDA for the first time for a growth of
4% year-on-year.
Representing an important milestone in our asset-light
strategy focused on operational efficiencies and best-
in-class customer experience, we signed agreements
for the sale and leaseback of over 7,500 of our towers
for more than Php 98 billion. Beyond helping bring
down costs to serve, our landmark deals signed in
2022 and Q1 2023 support the Government’s Common
Tower Policy and holistic digitalization agenda,
aligned with our commitment as one of the founding
members under the Digital Infrastructure group of the
Government-mandated Private Sector Advisory Council
(PSAC) formed in July 2022.
Home: Sustaining Upward Momentum
with Record Broadband Subscribers
Serving strong market demand, revenues of PLDT
Home marked its second consecutive year of double-
digit revenue growth. The unit logged all-time high
revenues of Php 57.4 billion, posting 20% growth from
Php 47.8 billion in 2021. Full year fiber-only revenues
rose by 45% to a record Php 48.5 billion in 2022.
Home’s fiber subscribers as of end-December 2022
stood at 2.9 million, with 514,000 net additions for the
year, capturing 59% of Fiber customer industry growth.
Fiber-only revenues accounted for 84% of total Home
revenues, up 70% compared with a year ago. Powering
the nation’s digitalization aspirations, we further
expanded our total fiber footprint to approximately
1.1 million kilometers. Homes passed reached some
17.2 million homes in 68% of the country’s cities and
municipalities.
As we continue to connect more Filipinos nationwide
to our fiber network, Home has been consistently
recognized as the Philippines’ fastest broadband
provider for five consecutive years by Ookla®, the
global leader in fixed broadband and mobile network
testing applications and data analysis.
Enterprise: Powering Ahead with Digital
Transformation Solutions
PLDT Enterprise is an important growth pillar for
our Group, being a critical partner among industries,
enabling the nation’s digital pivot towards economic
growth, and supporting the digital transformation
needs of our business customers. On the back of a
strong resurgence in business activity, our B2B arm
reported its highest revenues at Php 47.5 billion for
2022, up 8% from 2021.
Strengthening the country’s position as a promising
hub for hyperscaler investments in the Asia Pacific
Region, our data center and multi-cloud solutions
subsidiary ePLDT remains to be the dominant data
center provider in the Philippines. Construction is in full
swing for VITRO Sta. Rosa, our Group’s 11th facility that
is set to be the country’s largest data center
by far, alongside the completion of several capacity
expansion projects of ePLDT’s premiere VITRO data
centers strategically located in Makati and Parañaque.
Our investments in the Jupiter Cable System - the
country’s fastest transpacific cable system connecting
the Philippines to the US and the upcoming Asia Direct
Cable and Apricot Cable systems are expected to help
meet future hyperscaler industry requirements for
massive data capacity and high-speed connectivity.
CONSOLIDATED NET SERVICE REVENUES
Php190.1B
NEW ALL-TIME HIGH IN 2022
PLDT representatives and engineers stand atop a giant spool of over
600,000 kilometers of fiber, deployed as additional submarine fiber
links to improve connectivity in Luzon and some parts of the Visayas.
PLDT 2022 ANNUAL REPORT
8
These Enterprise nation-building initiatives allow
our Group to holistically support the Government’s
digitalization agenda.
Individual Wireless: Defying Challenges
with Improving Revenues
In an environment of shrinking consumer wallets
and more aggressive competition, Smart hit
Php 82.0 billion in revenues for 2022, pushing over
13% higher than pre-pandemic levels. Sequential
quarterly improvements throughout the year are
attributed to our continuous network leadership and
superiority, while sharpening the brand definition
of Smart and TNT with new promos that address
customer preferences.
Smart sustained its growth on the back of increased
data usage, with 4,393 petabytes in mobile data traffic
recording a 32% increase in 2022. Underpinning this
capacity and further inspiring us to become the telco
that our customers can truly count on, Ookla named
Smart anew as the Philippines’ Fastest and Best Mobile
Network for 2022.
2022 closed with the implementation of the SIM Card
Registration Act, and we are proud of the role that
Smart played in the law’s journey. We contributed
to the crafting of the law’s Implementing Rules and
Regulations, particularly in ensuring that the process is
inclusive for all Filipinos, in line with our commitment
to consumer online protection.
MAYA: Philippines’ Leading Fintech
Ecosystem
We continue to spearhead the growth of the Philippine
digital ecosystem through our fintech affiliate Maya,
the only all-in-one money platform in the country.
It is currently the leading digital banking app in the
Philippines, with 1.5 million bank customers and
Php 14.7 billion in deposit balances as of end-2022.
Evaluated in categories such as financial advice and
trust, Maya Bank is one of only two fully digital banks
among 10 Philippine awardees that were recognized
in the latest World’s Best Banks list of Forbes. Maya
Business is also the country’s top merchant payments
processor and leader in QR Ph for retail payments in
2022 based on BancNet data.
To further unlock synergies with the PLDT Group, Maya
provides more convenient access to financial services
with exclusive joint promos and perks for customers of
PLDT Home, PLDT Enterprise, and Smart.
Committed to ESG Leadership
We continue to work towards ESG leadership, believing
that sustainability is no longer a “nice-to-have”, but a
must-have.
We have laid out our ESG roadmap, and improvements
in our rating scores affirm that we are on the right
track. PLDT attained an overall score of 59 in the 2022
Collaborations across PLDT and Smart’s functional
units aim to ensure that we do business responsibly,
with group-wide ESG initiatives detailed in our 2022
Sustainability Report.
REPORT OF THE PRESIDENT AND CEO
PLDT 2022 ANNUAL REPORT
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ALFREDO S. PANLILIO
President and CEO of PLDT and Smart
S&P Global Corporate Sustainability Assessment (CSA)
ratings report, a significant gain from its prior years’
scores of 51 and 47. MSCI’s rating for PLDT improved
to BBB after four years at the BB level, while CDP’s
assessment rose from two consecutive C ratings to
B for 2022. These independent ESG assessments
measure the performance of companies in terms
of transparency and management of ESG risks and
opportunities, providing relevant sustainability-
oriented insights and benchmarks among shareholders
and investors.
Through decarbonization initiatives that are closely
linked to our business, we aim to reduce our Scope
1 and Scope 2 greenhouse gas emissions by 40%
come 2030. Collaborations across PLDT and Smart’s
functional units aim to ensure that we do business
responsibly, with groupwide ESG initiatives detailed in
our 2022 Sustainability Report.
Conclusion
We at PLDT and Smart remain steadfast in our
commitment to transform. We will be relentless in
providing awesome customer experiences to be the
PLDT and Smart that Filipinos need us to be, driven by
our purpose to serve, and powered by a culture that is
based on malasakit as our strength.
This 2023, our purpose at PLDT and Smart has become
even clearer: We evolve with our customers’ digital
lifestyles and commit to delivering innovation that
enables meaningful connections through generations.
Meaningful connections are what we create when we
serve with our customers at the core, embracing our
vision of a completely connected and future-ready
Philippines.
And when we say meaningful connections through
generations, this is because companies like ours are
rare: PLDT and Smart are built to last, and we pride
ourselves on that.
Our company will be 95 years old this November,
and I thank our shareholders, Leadership Team, and
employees for the continued support. If we achieve
our transformation goals, I can be proud to say that
the PLDT Group will be of service to more Filipinos for
years to come.
We at PLDT and Smart remain steadfast
in our commitment to transform.
We will be relentless in providing
awesome customer experiences to
be the PLDT and Smart that Filipinos
need us to be, driven by our purpose to
serve, and powered by a culture that is
based on malasakit as our strength.
Ookla
Best Mobile Network - Smart
Fastest Mobile Network - Smart
Best Mobile Coverage – Smart
Fastest Fixed Network – PLDT
umlaut
Best in Test – Smart
Best Rated Download Speed – Smart
Best Rated Upload Speed – Smart
Best Rated Latency - Smart
LinkedIn Talent Awards
Best Talent Acquisition Team – Smart
Finalists
Best Employer Brand – PLDT, Smart
Talent Insights Pioneer – PLDT, Smart
FutureNet Asia Event
APAC Operator Award for Best Example of
Automation Deployment - Smart
The Asset ESG Corporate Awards
Gold Award - PLDT Inc.
Institute of Corporate Directors
2022 ACGS Golden Arrow Awards
Awardee – Three Golden Arrow Awards
Institutional Investor 2022 Asia
#3 IR Professional – Melissa V. Vergel de Dios
Alpha Southeast Asia 12th Institutional Investor
Corporate Awards 2022
#1 Most Consistent Dividend Policy - PLDT
#3 Strongest Adherence to Corporate Governance - PLDT
#3 Best Strategic CSR – PLDT
ASEAN Corporate Governance Scorecard
ASEAN Asset Class – PLDT
Asia Communication Awards
CEO of the Year - Alfredo S. Panlilio
ACA Honor Roll - Highly commended
• Operator of the Year
• Crisis Response Award (for Typhoon Odette).
• Social Contribution (for Better Today)
2022 International Business Awards
Gold Stevie® - Project Tower
Silver Stevie® - #FarmSmart
2022 Asia-Pacific Stevie Awards
Gold Stevie®
• Smart GigaPlay
Silver Stevie®
• #FarmSmart
• #SimplyLove Digital Pride
• Digicon 2021
• Madiskarte Moms PH
• MVP Bossing Awards
Bronze Stevie®
• Smart Chatbot
• Smart GigaFest
• Smart Battle of Legends
Our Global
Recognitions
AWARDS AND RECOGNITIONS
PLDT 2022 ANNUAL REPORT
10
19th Philippine Quill Awards
PLDT and Smart - Company of The Year
Gold Quill Awards
• #BFF BEYOND FIBER Forever
• Be Better with Double Giga
• Better Today Conversations
• Better Today for Kids
• CovidComms 2021: PLDT & Smart COVID Warrior
• CyberSmart
• Families and Communities: Stronger Together
• Philippines’ Journey of Faith Mobile Exhibit App
• Philippines’ Journey of Faith Traveling Exhibit
• PLDT 2020 Annual Report
• PLDT Global Up Close and Very Personal
• PLDT Home Choose to Love
• PLDT Home #SheConnects
• PLDT Home #NoParentLikeYou
• Rated Global Pinoy by Free Bee App
• REVOLUTION: Philippine Digital Convention 2021
• #SafePH Disaster Preparedness Program
• #SafePH Disaster Preparedness Caravan
• Sky Rocket impact
• Smart Prepaid This Is Us Campaign
• Smart Signature Netflix Campaign
• Smart+BTS: Live Your Passion with Purpose
• TNT ‘Yan ang Pinoy
Silver Quill Awards
• Better Today Time Capsule Project
• Buy Local, Buy Smart
• Creating Safe Spaces
• CyberSmart
• Digital Farmers Program:
• Diskarteng Pinoy, Diskarteng Free Bee
• eBossing Workshop Series
• Gabay Guro
• Hyperscaler Campaign
• IMPACT: Philippine Digital Convention 2020
• Cyber Security Awareness Campaign
• Mind Your Health
• Virtual First Leadership Program
• Wellness Revolution
• PLDT Global OFWins
• PLDT Global #WeCareForOurPeople
• PLDT Home Better Biz
• PLDT Home More Minutes, More Bonding with Mommy
• Realizations campaign
• Smart 5G
• Smart Communities
• Smart Gigamania 2020
• Tech Talk on Demand
• Techtalk ON AIR
• TNT Giga K-Video
• TNT Giga Mania
• TNT Nasa Saya ‘Yan
• #TravelSmart via Snippets
• Unbreakable Learning Series
• Yes, SHE Can! Celebrating Women of PLDT and Smart
57th Anvil Awards
Company of The Year – PLDT and Smart
Gold Anvil Awards
• PLDT and Smart COVID Warrior Communications Program
• Better Today Time Capsule Project
Silver Anvil
• Better Today Conversations
• Better Today with Tarlac and La Union
• Buy Local, Buy Smart
• CyberSmart
• Digital Farmers Program
• Families and Communities: Stronger Together
• Gabay Guro
• Great Connections Podcast by Free Bee App
• Mind Your Health
• MVP Bossing Campaign
• #NoLearnerLeftBehind
• PLDT and Smart Wellness Revolution
• PLDT and Smart “Yes, She Can!”
• Smart+BTS: Live your Passion with Purpose
• Smart GigaStudy
• Smart Prepaid: This is Us
Maybank Philippines Inc.
TIGER Champion Excellence and Efficiency - PLDT
TIGER Champion Excellence and Efficiency - Smart
World Communication Awards
WCA Honor Roll - Highly commended
• Operator of the Year
• Crisis Response Award (for Typhoon Odette)
• Social Contribution (for Better Today)
PLDT 2022 ANNUAL REPORT 11
PLDT 2022 ANNUAL REPORT
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PLDT 2022 ANNUAL REPORT
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PLDT 2022 ANNUAL REPORT 13
“Our successes have enabled us to weather
strong challenges throughout 2022: Our core
business remains to be sound, and continues
to show solid EBITDA numbers. We have an
excellent network, strong brands, and attractive
products. Wireless is simplifying its portfolio,
Home continues to expand beyond connectivity,
and Enterprise is pursuing its digital
transformation initiatives.”
- PLDT and Smart President and CEO Alfredo S. Panlilio
CORPORATE MILESTONES
Elevating
Customer
Experience
PLDT 2022 ANNUAL REPORT 13
PLDT 2022 ANNUAL REPORT
14
CORPORATE MILESTONES
PLDT Home remains to be the country’s leading home
broadband service provider, serving 3.1 million customers
nationwide since December 2022.
PLDT’s fastest fixed broadband runs through the most
extensive fiber footprint of approximately 1.1 million kilometers,
consisting of over 231,000 kilometers of international fiber and
around 866,000 kilometers of domestic fiber as of end-2022.
Homes passed reached some 17.2 million homes in 68% of the
country’s cities and municipalities.
Through PLDT Home, customers can enjoy up to 10 Gbps of
symmetrical internet speeds or equal upload and download
speeds, and recognized as the Philippines’ fastest broadband
for the 5th consecutive year by Ookla®, the company behind
Speedtest® and the global leader in fixed broadband and
mobile network testing applications and data analysis.
To give customers the best digital experience at home, PLDT
increased the speeds of all its Fiber plans up to two times faster
than previous speeds. It also introduced the Easy Speedboost
promo where customers can enjoy up to 600 Mbps speed
upgrade with a minimal monthly add-on fee.
In 2022, PLDT introduced MyOwnWiFi, a first-of-its-kind
add-on service that allows existing Fiber customers to have a
secondary internet connection with the same speeds as their
Fiber base plan, at half the price.
Committed to fulfilling its customers’ digital home lifestyle
needs, PLDT Home gave access to a complete Smart Home
ecosystem of relevant digital solutions and devices built on
the following pillars that let them do things better at home:
connectivity, entertainment, and security.
Under its connectivity portfolio, the WiFi Mesh System blankets
the entire home with Fiber-fast speeds, solving the problem of
WiFi dead spots at home with top-of-the-line WiFi 6 solutions,
Asus ZenWiFi XT8 and TP Link Deco X20.
For an enhanced gaming experience, PLDT Home offered the
Asus ROG Rapture GT AX11000 running on WiFi 6 technology,
eliminating lag, lowers latency, unstable ping and screen freezes,
for users to level up gameplay performance offers.
On entertainment, PLDT Home gave customers a diverse range
of bundled content through partnerships with global content
providers including award-winning streaming service, Netflix;
premium streaming platform Lionsgate Play; PCCW’s leading
pan-regional OTT video streaming service, Viu; HBO’s video-on-
demand service, HBO Go; Philippines’ pay TV service provider,
Cignal TV; as well as NBA’s premium live game subscription
series, NBA League Pass.
Through its Home Biz program, PLDT contributed to the
development of the country’s digital economy by equipping
Filipino home-based entrepreneurs to thrive in the new normal
powered by technology, resources, and master classes. PLDT
Home Biz Fiber plans come with free e-commerce partner
solutions, free backup internet, and unlimited landline and all net
mobile calls.
Powered by the fastest and strongest connections, PLDT
Home customers also get to enjoy better digital experiences at
home with exciting promos and perks through the PLDT Home
Rewards loyalty program.
PLDT Home:
Sustaining the Upward Momentum
3.1M
HOME SUBSCRIBERS
AS OF END-2022
10GBPS
FASTEST HOME FIBER PLAN
AVAILABLE IN PH TO DATE
5 YEARS
UNDISPUTED FASTEST FIXED NETWORK
IN PH AS AWARDED BY OOKLA® FOR
Scan here for more
information on PLDT HOME
PLDT 2022 ANNUAL REPORT 15
PLDT Enterprise remains to be the preferred digital services
partner of the B2B market. As the corporate business unit
of the PLDT Group, PLDT Enterprise’s vision is to make a
positive impact on every single business by simplifying the
complex for various industries. With its wide range of fixed
line, wireless, and ICT services, which run on the Philippines’
most extensive fiber optic backbone, cellular network, and
data center footprint, PLDT Enterprise delivers solutions that
create real value for customers.
Our Fixed Line corporate data solutions cater to the internet,
networking, and managed connectivity solutions across
various enterprise customers whether small, medium, or
large. -These include (i) domestic data solutions, comprising
of managed networking solutions on SD-WAN, the latest
network technology for wide area networks; Metro Ethernet,
a reliable and high bandwidth point to point connectivity
services; Shops.Work, a managed connectivity solution
designed for retailers, franchisers, and SMEs; Shops.Work
Unplugged, a wireless VPN service that powers mobile
point-of-sale terminals and off-site bank ATMs, as well as
other retail outlets located in remote areas; and Beyond
Fiber, our all-in-one digital solution positioned as the ideal
business internet service; and (ii) international data solutions,
comprising iGate, our dedicated internet access solution;
International Ethernet Private Line Services, a resilient
international private networking connectivity solution; and
International IP VPN, a fully-managed IP solution for data,
voice, video, and multimedia applications supported over a
single IP-based platform.
Meanwhile, PLDT Group’s ICT subsidiary, ePLDT, provides
ICT services including data center, multi-cloud solutions, and
cybersecurity offerings. Last year, ePLDT broke ground for
its 11th and biggest data center yet in Sta. Rosa, Laguna. With
its 50MW ultimate power capacity and 4,500 racks, VITRO
Sta. Rosa will cater to the rapidly increasing hyperscaler
colocation demand in the country. In addition, ePLDT started
expansion of VITRO Makati 2 (VM2). Upon completion in
February 2023, this will provide VM2 with an additional
1,568 racks and an increased IT power of 12.3 MW to meet
the increasing demands of its customers. Overall, these
developments will increase VITRO’s rack footprint to 13,400,
further cementing ePLDT’s leadership in the local data
center market.
ePLDT’s cyber security strategy involves four critical elements
to provide customers with holistic, multi-layer protection.
It covers the frameworks, intelligence, technology, and
expertise needed to protect IT infrastructure from evolving
threats, malicious software attacks, possible data loss, and
reputational risks. ePLDT is also the first and only Philippine
organizational member of global leader in incident response
Forum of Incident Response and Security Teams (FIRST).
ePLDT has also built a strong partner ecosystem with global
cloud service providers and continues to build new capabilities
and expand its expertise in the most up-to-date technologies.
For instance, ePLDT works with Microsoft, Google, AWS,
Salesforce, Palo Alto Networks, MuleSoft, and Enghouse
Interactive, among others, to provide tailored services beyond
infrastructure and license-selling. Among ePLDT’s full-suite
of cloud solutions are Infrastructure-as-a-Service (“IaaS”),
Software-as-a-Service (“SaaS”), Teams Calling, Contact-Center-
as-a-Service (“CCaaS”), Security Operations Center-as-a-Service
(SOCaaS), Disaster Recovery-as-a-Service (“DRaaS”).
ePLDT’s capabilities extend to global partnerships and local
resources related to cyber security, keeping the customers’
multi-cloud or hybrid infrastructure resilient from cyber threats.
Through its extensive offerings and proven expertise, ePLDT
positions itself as the preferred digital transformation partner of
enterprises - wherever they may be on their journey.
Powering these services is PLDT’s unmatched fiber optic network
both domestic and international. Last year, PLDT tripled its
international capacity to about 60 Terabit/s to US and Japan
with the launch of the 14,000-kilometer Jupiter cable system
reinforcing the capacities and the resiliency of PLDT’s existing
undersea fiber links, to deliver massive amounts of data traffic
going in and out of the country to the US and Japan. It also
announced several future builds on other international cable
systems including the Apricot and Asia Direct Cable systems.
PLDT Enterprise:
Trusted Partner of Choice in the Industry
EXPANDING ITS DATA
CENTER FOOTPRINT
WITH THE CONSTRUCTION
OF THE 11TH VITRO DATA
CENTER IN LAGUNA
60TBPS
IN INTERNATIONAL
CAPACITY
AROUND
Scan here for more
information on
PLDT Enterprise
PLDT 2022 ANNUAL REPORT
16
97%
POPULATION COVERAGE
WITH ITS 3G, LTE AND
5G NETWORKS
UNDISPUTED ‘FASTEST AND
BEST MOBILE NETWORK’
IN PH ACCORDING TO OOKLA
76,500
BASE STATIONS
NATIONWIDE
As the Philippines’ reigning ‘Fastest and Best Mobile Network’
according to global leader in mobile and broadband network
intelligence Ookla, Smart continues to post higher data usage
per subscriber and increased data traffic amid increased mobility
as more people returned to work and traveled. Recognizing the
continuing impact of rising inflation especially on subscribers,
offering competitive data packages was key for Smart
moving forward.
Smart launched the value-packed and flexible GIGA Power, that
provides prepaid customers with access to their favorite apps.
GIGA Power 75 offers 2GB for all sites and apps every day plus
2GB shareable data valid for 3 days for only Php75 and UnliFam
999 with unlimited data for 30 days to cover the connectivity
needs of households.
Smart boosted Signature Plans+ with 12 months of UNLI 5G –
the only offer of its kind in the market, and rolled out GigaLife
Surprises, an exciting line-up of perks, promos, and privileges
exclusively available on the GigaLife App. Smart customers can
just tap the “Don’t Miss Out” tile to avail value-packed offers that
suit their lifestyle. It also reintroduced GigaRoam with open access
data to all sites and apps essential in one’s travel available in 1GB,
3GB, 8GB, and 100GB, with validity ranging from 5 to 30 days.
In April, Smart unveiled FREE TikTok For All, which gave customers
free TikTok access for prepaid promos worth over Php99 while
TNT customers also enjoyed FREE 1GB of TikTok every day upon
registration to Smart Prepaid promos worth Php99 and below.
By July, Smart Prepaid introduced Belle Mariano as its newest
endorser and unveiled Power All 99, which comes with 8GB for
all sites and apps, Unli TikTok, and Unli Texts to All Networks
valid for 7 days for only Php99.
On the other hand, TNT introduced Kathryn Bernardo as its
endorser, and upsized SurfSaya 30 to include 1GB data and
Unlimited AllNet Call and Text, valid for three days, and launched
“Sulit Affordaloads,” a line-up of budget-friendly data, calls and
texts for as low as Php10. The budget-friendly offers consist of
Pantawid 10, SurfSaya 20 and All Data 50.
Smart and TNT launched Double GIGA+ which comes with
data, daily data allowances for social media, and Unli AllNet
calls and texts.
Supporting the Rise of E-Sports,
Sports Gaming, and Entertainment
In line with its longstanding support for Philippine esports
athletes, gamers, and fans, Smart announced its fifth year of
collaboration with Mobile Legends creator Moonton as official
PH telco partner.
Smart further teamed up with Eplayment Entertainment for the
fifth season of Liga Adarna, the country’s biggest all-female
esports league. The new season showcased the skills and
strategic gameplays of the country’s top female esports players
in Mobile Legends: Bang Bang (MLBB).
Smart also launched GIGA Arena, their first all-in-one esports
platform for Filipino mobile gamers which lets Smart and TNT
customers match up with fellow players to compete in regular
tournaments for prizes.
Smart unveiled its partnership with UAAP to stream select Season
84 games for free. Smart also announced its support for SIBOL,
the country’s national esports team, in the 31st SEA Games in
Hanoi. The team raked in 2 Golds and 2 Silvers.
Advancing Towards a Network
Built for Nation-building
In 2022, PLDT went into several Sale and Purchase Agreements
for the sale of 5,907 and 650 telecom towers and related passive
telecom infrastructure in April and December, respectively. This
pioneer undertaking supports the Philippine Department of
Information and Communications Technology’s goal of improving
tower density which will lead to significant efficiencies and
improved connectivity across the Philippines, thus benefitting
the country and all Filipinos. These include ISOC edotco Towers,
Inc. (subsidiary of edotco Group), Comworks Infratech Corp.
(subsidiary of EdgePoint) and Unity Digital Infrastructure Inc.
By the end of the year, together with other local telcos, Smart
made the Mobile Number Portability (MNP) available which
enabled customers to switch networks without changing mobile
number in easy steps. And before 2022 ended, Smart further
supported the government’s efforts in curbing the proliferation of
crimes and smishing scams with start of the SIM Registration roll
out in compliance with Republic Act 11934 or the SIM Registration
Law where Smart launched the http://www.smart.com.ph/simreg
portal to help customers facilitate an easy, safe and rewarding SIM
registration experience.
Smart: Enriching customers with value-
packed promos on a powerful network
Scan here for more
information on Smart
CORPORATE MILESTONES
PLDT 2022 ANNUAL REPORT 17
PLDT Global continues to make its mark in the global
journey of Filipinos as it pivots its consumer business into
the digital and fintech collab space. In 2022, PGC officially
launched TinBo (Tindahan ni Bossing), the newest one-stop
online gateway for overseas Filipinos that offers a variety of
relevant products and services, backed up by the company’s
distribution platform Vortex. TinBo introduced the Smart
Virtual Number, a SIM-less and online mobile number for
overseas Filipinos that would allow them to receive their
one-time passwords (OTPs) from Philippine banks and digital
wallets, including calls and messages.
Better Everyday for Global Filipinos
To better serve the connectivity and financial needs of global
Filipinos, PGC boosted its suite of offerings by leveraging on
key partnerships with different companies and government
agencies that would put the best interest of Filipinos at heart.
·
• Strengthened partnership with Bayad, the biggest multi-
channel payment platform in the Philippines to enable
more options for cross-border payment solutions to
Filipinos abroad
• Collaborated with the all-in-one money app Maya to bring
accessible digital banking services to the overseas Filipinos
• Partnered with mWell, the Philippines’ first fully integrated
health app to deliver healthcare subscription plans
especially tailored for overseas Filipinos
• Signed a partnership with fintech company Venio to allow
access to different digital financial services for payment
processing, marketplace solutions, financing, and transfers
for Filipinos in North America and the Middle East
• Partnership with Fadtech Telecom to offer Filipinos in
Japan with means to conveniently pay bills, buy load, and
purchase electronic gifts to send to their families in the
Philippines
• Through its partner Sandbox, PLDT Global has opened
service access in Filipino grocery stores in the United
Arab Emirates
• Active collaboration with Department of Migrant Workers
(DMW) and Overseas Workers Welfare Administration
(OWWA) to ensure TINBO’s presence in major touchpoints
of OFWs
• PGC, together with the PLDT Group and Smart led the
Asian Carriers Conference 2022— the most sought-
after telecom conference in the region that gathered
industry titans for the first time in Boracay after the global
pandemic to reignite the passion to build a brighter future
for the telecom industry
PLDT Global, Connecting Overseas
Filipinos to the Digital Future via TINBO
Scan here for more
information on PLDT Global
72%
32
GROWTH IN USERS IN TINBO SINCE
ITS LAUNCH IN AUGUST 2022
OVER
BOSSING FOR THE WIN
PRODUCED
INTERNATIONAL PARTNERS OF
VORTEX SERVICING MORE THAN
2,000 CORPORATE AND CARRIER
PARTNERSHIPS CATERING TO
THE DIGITAL DISTRIBUTION
ECOSYSTEM OF GLOBAL FILIPINOS
AN INTERACTIVE 10-EPISODE GAME SHOW
LIVESTREAMED ON FACEBOOK TO CELEBRATE THE
WINS OF OVERSEAS FILIPINOS WHILE PROMOTING
THE RELEVANT OFFERINGS OF TINBO
PLDT 2022 ANNUAL REPORT
18
With Maya leading the charge in the QR Ph adoption,
merchants can now accept payments from anyone, no matter
their bank or e-wallet accounts, with just the Maya QR.
Beyond payments, Maya gives enterprises a keen advantage
in revenue growth. Enterprises can get a deposit with free
bank transfers and earn 1.5%, which is four times higher
than the average bank interest. And for MSMEs, Maya offers
working capital loans and 7-day term loan products to help
them grow their business.
Replicating its early success for consumer lending, Maya is
best positioned to become the small, and medium enterprises
(SME) bank of choice in the Philippines with unparalleled
access to consumer data, state-of-the-art credit scoring, and
superior product suite, on the back of its enterprise business.
Changing the Banking Game for the Better
By continuously innovating and linking its consumer and
enterprise businesses, Maya is creating a self-sustaining cycle
of growth that is propelling it to new heights.
Eight months after its launch in April 2022, Maya became
the undisputed #1 digital bank in the Philippines, winning over
1.8 million bank customers and achieving an astounding
Php14.7 billion in deposits and Php3 billion in credit, even
on an exclusive by-invite mode.
The Philippines is a land of opportunity, and Maya is leading
the charge in revolutionizing banking for Filipinos. With only
4% of Filipino adults receiving bank loans and just 31% having
savings with banks, there is a massive untapped market ready
for disruption.
Consumers can say goodbye to traditional banking norms,
as PayMaya evolved into Maya, the most advanced and
comprehensive digital bank in the Philippines. Powered by the
#1 consumer finance app, #1 merchant acquiring business, and
#1 digital bank, Maya is changing the game for the better.
Maya provides everyone, from the unbanked to the unhappily
banked and micro, small, and medium enterprises (MSMEs),
with the tools, confidence, and support they need to succeed.
Bringing Banking in the Hands of Filipinos
With the #1 digital bank app, consumers can enjoy everything
from high-interest savings to instant credit, easy crypto
journeys, affordable insurance, feature-rich wallets, and
rewards, all in one app.
Consumers can upgrade their accounts in just 2-4 minutes
with only one ID and say hello to a delightful and seamless
experience.
Growing money is now a breakthrough experience. By using
Maya for everyday transactions, consumers can earn as high
as 10% interest rate p.a., get free crypto rewards, and access
revolving credit up to Php18,000. And with @username, they
can send money safely without sharing their mobile number -
a first in the Philippines.
Maya is quickly becoming a part of its users’ lives, simplifying
their financial transactions and cash flows. Today, users
who save or borrow with Maya transact 2x to 3x more than
e-wallet-only users. As consumers use Maya more for their
everyday needs, Maya has experienced a significant surge in
product usage, resulting in lower costs, higher revenue per
user, and higher lifetime value.
Maya is not just for consumers; it is for everyone. Maya
serves as the backbone of the Philippine economy, providing
all-in-one bundle payments acceptance, disbursements,
and progressive banking services to the Philippines’ largest
e-commerce platforms, everyday merchants, and MSMEs.
MAYA’S
ACCELERATED
GROWTH IN FIRST
8 MONTHS
1.8M
BANK CUSTOMERS SINCE
FULL LAUNCH OF SERVICES
Php14.7B
IN DEPOSIT BALANCE
MAYA:
Revolutionizing Banking for Filipinos
Php3B
LOANS DISBURSED WHILE
ON BY-INVITE ACCESS
CORPORATE MILESTONES
PLDT 2022 ANNUAL REPORT 19
Maya is also making its mark worldwide. It is the only digital
bank and youngest institution to be named World’s Best
Banks (Philippines) by Forbes. Juniper Research’s 2022
Future Digital Awards also named Maya as the world’s Digital
Bank of the Year, and it is included in CB Insight’s Fintech 250,
a listing of who is who in banking and fintech worldwide.
But what really matters is Maya’s users, who deemed it as
the highest-rated local finance app on Google Play Store
and Apple Store because of its 99.4% app uptime, rock-solid
security, seamless app experience, and superior products.
It has beaten other e-wallets, banks, and fintech brands.
This recognition of Maya as the game changer with
unstoppable growth momentum also comes from its strong
backing from global and local investor community.
It raised US$ 210M in new funds in April 2022, propelling the
company’s valuation to unicorn status, at US$ 1.4 billion.
Its shareholders include: PLDT, KKR, Tencent, International
Finance Corporation (IFC); and IFC Emerging Asia Fund and
IFC Financial Institutions Growth Fund, two funds managed
by the IFC Asset Management Company (IFC AMC), a division
of IFC; SIG Venture Capital; EDBI; and First Pacific Company.
Scan here for more
information on MAYA –
official.maya.com
PLDT 2022 ANNUAL REPORT 19
PLDT 2022 ANNUAL REPORT
20
PLDT 2022 ANNUAL REPORT
20
PLDT 2022 ANNUAL REPORT 21
“One of the things the ATI is proud of is its strong partnership with
PLDT and SMART. The company has been supporting the Department
of Agriculture’s efforts in pushing for a digitally-driven sector by
promoting the use of information and communication technology
for improving agricultural production and profit, and consequently
enhancing value chains.
Indeed, public-private partnerships work and we are very honored
to trail the path with PLDT and Smart in providing farmers and other
stakeholders the opportunity to strengthen their utilization of ICT
tools and platforms, leaving no one behind.”
- Director Remelyn R. Recoter, Department of Agriculture - Agricultural Training Institute
Creating
Shared Value
PLDT leverages on its leading technology infrastructure and widest
network reach to implement Shared Value Programs that drive its
business competitiveness and sustainability, while addressing economic
and social concerns of stakeholders in communities where it operates.
The Corporate Citizenship Strategy of PLDT advances its Connection,
Concern, and Commitment sustainability pillars through the promotion of
digital inclusion, the optimized application of technology as an enabler
of development and transformation, and collaboration with partners to
generate collective impact particularly in the areas of Digital Wellness,
Disaster Resilience, Education, Livelihood, and Food Security.
Scan here for more information on the
PLDT Group’s Corporate Sustainability programs
CORPORATE SOCIAL RESPONSIBILITY
PLDT 2022 ANNUAL REPORT 21
PLDT 2022 ANNUAL REPORT
22
CORPORATE SOCIAL RESPONSIBILITY
Digital Wellness
Program definitions:
Better Today: A program
that promotes Internet
safety and responsible
digital citizenship, children’s
rights and protection,
mental health awareness,
and youth empowerment.
Focus Area
To-date Scorecard
Child’s Rights
• Activated 8 Barangay Council for the Protection of Children (BCPC) units
• Trained 540 LGU and school-based service providers and 152 children on OSAEC
prevention and response
Mental Health
• Over 45M social media reach for Better Today Conversations
• Trained and mobilized 210 volunteer youth and barangay healthcare workers for
Better Today Psychological First Aid program
Internet Safety
• Reached 41,021 participants via #CyberSmart internet safety awareness program
Promoting safe spaces for a #BetterToday
SDG 3: Good Health & Well-being, SDG 16: Peace, Justice, & Strong Institutions
Program definitions:
• Ligtas Kit: A portable, all-in-one package that
contains tools and devices to provide emergency
communications to communities vital before,
during, and after disasters.
• #SafePH caravan: An online caravan that
helps communities prepare for disasters and
emergencies.
• Communications as Aid: Emergency
communications stations that provide free calls,
charging services, and WiFi to communities
affected by disasters.
Focus Area
Program
To-date Scorecard
Disaster
Preparedness
PLDT Smart Ligtas Kit
• Ligtas Kits Deployed: 20
• Trained Partners: 50 Participants from 19 LGUs
#SafePH Caravan
• Participants reached: 44,007
• LGUs & schools engaged: 359
Communications as Aid
(2022 data)
• Emergency Calling Stations set up: 57
• Government Agencies & LGUs provided with
communications support: 9
Relief (2022 data)
• Relief packs distributed: 10,549
Disaster Resilience
Creating a #SafeandSmart Philippines
SDG 11: Sustainable Cities and Communities
PLDT 2022 ANNUAL REPORT 23
Program definitions:
• Digital Farmers Program: A digital literacy program in partnership with
the Department of Agriculture-Agricultural Training Institute (DA-ATI)
for smallholder farmers to help increase their livelihood opportunities.
• e-Biznovation: A digital literacy program for MSMEs, coops, PWD- and
IP-led businesses, and small tourism business players to connect them
to e-commerce.
• Buy Local: A farm-to-market program that helps provide Filipino
smallholder farmers with access to sure markets and affordable capital.
• PlantSmart: A food security program that consists of distributing
planting kits to communities and training them on starting their own
edible gardens and setting up GrowHubs or vegetable gardens in
company offices for employees and partner communities.
Focus Area
Program
To-date Scorecard
Livelihood
Digital Farmers Program
• Farmers, agri youth, & agri extension workers trained: 6,555
e-Biznovation
• Participants trained: 9,641
Buy Local
• Farmers supported: 4,672
• Gross sales: Php12M
• Rice sold: 153k kgs
• Capital loaned to farmers: Php2.6M
• Farmers supported with capital: 317
Food Security
PlantSmart
• PlantSmart Kits distributed: 7,860
• GrowHubs set up: 2
Livelihood
Creating #FarmSmart and #PlantSmart communities
SDG 1: No Poverty, SDG 2: Zero Hunger, SDG 8: Decent Work and Economic Growth
Program definitions:
• School-in-a-Bag: A portable digital classroom that provides last-mile schools access
to mobile devices, internet connectivity, and training on a STEM-focused pedagogy.
• CVIF-DLP: An innovative disaster-resilient pedagogy that develops students into
independent learners
• Innovation Generation: An innovations program that enables young Filipino
innovators to develop technology-enabled solutions to help rebuild their
communities by mentoring students on technopreneurship.
• InfoTeach: A digital literacy training program for various sectors of society to
empower them with 21st century skills
Focus Area
Program
To-date Scorecard
Basic Education
School-in-a-Bag
• Bags deployed: 644
• Students reached: 113,739
• Teachers trained: 4,377
CVIF-Dynamic Learning
Program (CVIF-DLP)
• Teachers trained on the CVIF-DLP pedagogy: 15,394
• Schools implementing CVIF-DLP: 1,081
Tertiary
Education
Innovation Generation
• Seasons 1 to 3
- Entries received: 234
- Participants: 1,241 students and 234 faculty members
- Schools: 110 colleges and universities
Lifelong
Learning
InfoTeach
• Participants trained on digital literacy: over 30,000
Education
Ensuring #NoLearnerLeftBehind
SDG 4: Quality Education
PLDT 2022 ANNUAL REPORT
24
PEOPLE AND CULTURE
Transformation Journey
As PLDT and Smart continue to thrust forward into its quest towards its North Star -- customer centricity, a four-year
transformation strategy was launched to reach its aspirational 2025 vision and strategy to achieve five transformation goals:
In 2022, PLDT and Smart began its aspirational 2025 transformation journey of becoming a company that
customers advocate for, competitors admire, shareholders value, and employees love to work for.
To transform PLDT and Smart into the Best Place to Work, programs were designed to unleash workforce
potential, build an adaptive and flexible healthy workplace, and re-architect new ways of working.
The transformation strategy was designed to be rolled out
across two phases. For Horizon 1, the goal was to build the
foundation in 2022, while Horizon 2 would focus on driving
structural change and strategic growth from 2023 to 2025.
For any transformation to be effective, new ways of working
within the transformation community were established. Key
employees from various groups were selected to take on
expanded roles in the newly formed Transformation Office,
Workstreams and Emerging Leaders Program, among others.
These functions strengthened employee accountability and
ensured clarity in implementing program deliverables.
To boost the Group’s execution muscle, daily and weekly
cadences, war rooms, and cross-functional interlocks driven
by the various workstreams and the Transformation Office
were conducted regularly. All these collaborations accelerated
team execution, fostering a fast-paced and performance-
driven environment.
Make interactions
simple for our
customers, provide
them with delightful
experiences
Remove silos,
strengthen
collaboration and
empower employees
to innovate
Streamline
operations and
eliminate pain
points
Strengthen our core
and be future-ready
by investing in new
capabilities
Be the
Environmental Social
& Governance (ESG)
leading telco in
the region
Customer
Centricity
Operational
Excellence
Best Place
to Work
Profitable New
Growth
Doing Business
Responsibly
Transforming
the Way We Work
PLDT 2022 ANNUAL REPORT 25
With over 1,100 workstream members involved in this
transformation and more than 14,000 employees onboard, the
program was cascaded through a communications campaign
across various internal channels including an org-wide
transformation portal, town halls, leadership change stories,
training workshops, and a rewards & recognition program.
As reinventing the company’s culture plays an essential role
in transformation, an Organizational Health Index (OHI)
survey was launched to a sample population of 3,000
employees. Survey results showed that PLDT and Smart have
a median health when benchmarked against Southeast Asian
companies, which means management practices are at par
with global standards. It reflected positive factors such as
PLDT and Smart continuing to believe that the organization
understands what it wants to achieve, is committed to
execution excellence, and has a strong bias towards
innovation to support sustainable growth. Plans to address
opportunity areas were also put in place.
An action plan was designed for the company’s culture reset
which included defining the new purpose, vision, mission,
values (PVMV) and signature behaviors to serve as the
workforce’s compass in achieving the transformation; crafting
a new job skills architecture, revamping the performance
management program, and integrating a “Customer First”
Culture, among others.
Talent Management
In line with PLDT and Smart’s single value proposition
around Talent – which is to have the best fit employees
in critical roles to address pressing business targets and
deliverables – organizational redesigns were completed in
2022 for IT, Network, Finance, People Group, Customer Value
Management, Wireless, Home and Enterprise.
In support of PLDT and Smart’s massive transformation
journey, the Leadership Transformation Team (LTT)
was created to focus on driving the execution of the
transformation program and ascertain that its goals are
attained and its benefits realized in a timely manner. The LTT
enables cross-functional collaboration for agile decision-
making and builds on improving the group’s efficiencies
and productivity.
The company also continues to do succession management in
an active manner. These include working with LTT and senior
leaders on their capability and training requirements, while
continuously refreshing the talent pipeline by nurturing the
ecosystem of both internal and external pools.
Internal critical talents undergo robust leadership and skill
development programs such as the Next Leadership Program
which highlights experiential learning, talent mobility, global
education, and coaching. The external pool, on one hand,
takes a proactive approach in engaging relevant markets and
a compelling onboarding program.
To keep up with the growing talent demands of the telco
industry, a new and improved Talent Management Portal
was relaunched to serve as a performance assessment
tool for the current workforce aligned to the company’s
business directions, digitalize the recruitment process for
new candidates, and create a smooth end-to-end onboarding
system for new hires and hiring managers.
All these efforts are aimed towards making sure PLDT and
Smart have the best fit talents in the most critical roles of
the business.
Learning & Development
Through the company’s learning and development arm,
“PLDT & Smart University”, continuous professional trainings
were offered to its workforce through a roster of e-learning
courses, webinars and classroom sessions:
•
The training team supported the products knowledge,
revenue generation and customer experience programs to
keep 4,905 graduates abreast of the company’s services.
Php83 million in annual revenues were even generated
due to employees’ customer referrals enabled by the
#AllTogetherNow Season 3: Further Together program.
•
A Global Technical Certification Program was rolled out to
boost the expertise of technical staff to support corporate
bids and network resilience and efficiency, with a total of
1,205 active certified employees.
•
Zone Service Technicians’ Upskilling Program for zone
operations personnel was also conducted with 533
personnel trained in end-to-end installation and repairs,
and digital field operations with 99% of the zones
going live.
•
For the digital transformation arm, over 11,000 employees
went through training in systems transformation projects,
new technologies and end-user training experience.
Another 959 trainees accomplished network and
technology transformation support across various
initiatives.
•
A Learning Heroes Program, an annual learning and
engagement program for training resource persons and
members of the PLDT & Smart Learning Community, was
organized with over 450 attendees.
•
Various digital learning courses to support business
requirements were also rolled out with courses deployed
for performance management, corporate governance,
leadership development, cyber security and data privacy,
among others.
In 2022, a total of 33,455 training graduates completed
various full and virtual face-to-face trainings; whereas, 127,638
graduates completed e-learning courses.
PLDT 2022 ANNUAL REPORT
26
Diversity & Inclusion
Gender equality is high in the agenda of the group’s
Environment, Social and Governance (ESG) initiatives,
as an equal opportunity employer in the country.
PLDT and Smart became the first Philippine telcos that
signed up as members of the Philippine Business Coalition
for Women Empowerment (PBCWE), to achieve large-scale
organizational transformation through evidence-based
strategies and best practices in the workplace in 2021. To gain
a deeper understanding of the opportunities and strengths
of PLDT and Smart in relation to Workplace Gender Equality,
PBCWE reviewed the organization using the Gender Equality
Assessment Results and Strategies (GEARS) and found
out that the company achieved a “Leading Practice” status
on the following Focus Areas: mainstreaming flexible work
for performance and support; professional development,
mentoring, sponsorship; preventing and addressing gender-
based harassment and discrimination, sexual harassment,
and domestic violence. Through GEARS, Smart even achieved
“gender balance” in terms of recruitment and promotion
processes in all levels of the organization, including a gender
balanced board, while the combined data of PLDT and Smart
shows high retention rate for both men and women —
scoring above 90% standard in retention across all levels
of the organization.
The company also celebrated its annual “Yes, She Can”
Women’s Month program. It introduced weekly webisodes
featuring the stories of phenomenal PLDT and Smart women
who shared their dedication and generosity to their families;
performed roles traditionally done by men, pursued their
passion outside work, nurtured the next generation of women
leaders, and led the transformation of the organization.
A digital activity, a special “Yes, She Can” virtual concert,
and a webinar on “managing unconscious bias in the
workplace” were also rolled out.
To honor June Pride Month, PLDT and Smart kicked off a
campaign called “#EveryColorEveryYou” which aimed to
celebrate the LGBTQIA+ community and foster a culture that
supports inclusivity, equality, and diversity. The month-long
celebration included messages from top leaders promoting
allyship, Pride Rainbow Stories featuring community
members, and a digital activity that allowed employees to pay
tribute to the LGBTQIA+ community,
In celebration of the United Nations’ International Day of
Persons with Disabilities, PLDT and Smart partnered with
Life Haven Center for Independent Living, an organization
that promotes the movement of persons with disabilities
who work for self-determination, equal opportunities, and life
with dignity. Under the campaign handle, “#InclusionAbles”,
the webinars tackled an introduction to disability, disability
sensitization, and building a more inclusive workplace.
Empowering the Community
To engage a hybrid workforce, 60 wellness projects and 26
families & community events were launched in 2022 with
a participant count of 15,207 employees and a satisfaction
score of 4.77 (Excellent).
Various engagement initiatives were rolled out:
•
Families and Communities programs included themed
celebrations (i.e. Father’s Day, Mother’s Day, Halloween,
Christmas) and entertainment programs (e.g. quiz nights,
online concerts, stand-up comedy nights, cook-off events).
2022 was capped off with a hybrid “PLDT and Smart
Isang Pamilya, Isang Pasko” celebration featuring various
employee activities such as the distribution of holiday
treats (e.g. bibingka and hot chocolate), virtual raffle
events, a digital activity, onsite and online Simbang Gabi
masses, a toy donation drive, and a virtual Christmas
concert with reputable artists Jose Mari Chan, Love
Project and Gigi De Lana.
•
Wellness Revolution empowered employees to take
charge of their overall physical, mental, spiritual and
financial well-being. Multiple activities were rolled out
such as Workout From Anywhere (virtual fitness classes),
Mind Your Health (mental health webinars), Common
Cents (financial wellness events on cryptocurrency,
stock market investment, budgeting), Food for the Soul
(spiritual wellness retreats), ONE Esports League (Mobile
Legends competition), and PLDT & Smart Perks (an
employee discount program for deals and promos of
lifestyle products and establishments).
•
Rewards & Recognition programs were organized in 2022
such as PLDT Pamana Night (a face-to-face event held
at Dusit Thani Hotel aimed at recognizing employees
who celebrated 25, 30, 35 and 40 years in the company),
Smart Service Awards (where service plaques were
distributed to 5, 10, 15, 20 and 25-year awardees) and
Pasasalamat Night (a recognition tribute for Typhoon
Odette volunteers).
Aligned to the company’s core value of malasakit, the 18th
Manuel V. Pangilinan Annual Academic Excellence Awards
(MPVAEA) in partnership with PLDT-Smart Foundation (PSF)
also provided education grants to a number of dependents
of PLDT and Smart employees. Aligned to the company’s
core value malasakit, MVPAEA recognizes the academically
gifted learners with one-time grants of Php50,000 each
for 10 college students and 3 children with special needs,
Php30,000 each for 25 high school students, Php20,000
each for 65 elementary students.
PEOPLE AND CULTURE
PLDT 2022 ANNUAL REPORT 27
To further empower the PLDT and Smart community, the
senior leadership team played a crucial role in providing
wisdom and mentorship to employees through informal
leadership sessions such as “Mornings with Al” – conversation
sessions with President & CEO, Al Panlilio; “Leaders on the
Go” – virtual events that enabled employees to learn valuable
insights from leaders, and Leadership Town Halls – employee
virtual assemblies where the Management Committee shared
business updates and events.
Our Culture Activation Journey
With the goal of reinventing its culture in 2022, the company
went through a data gathering and processing phase where
various insights on organizational health were gathered
from different employee levels across eight focus group
discussions.
A series of Culture Labs were rolled out with strong senior
leadership involvement. The sessions were focused on crafting
PLDT and Smart’s new Purpose, Vision, Mission, Values
(PVMV) and signature behaviors.
On December 7, 2022, over 150 company leaders gathered at
Samsung Hall in SM Aura for the Culture Onboarding event
which kicked off the new PVMV. With the theme “Magic of
WE”, the focus was about making PLDT and Smart a happy
space where the workforce can grow, feel nurtured and
fulfilled together, inspired by its overall purpose.
Senior leaders Chairman MVP, Al Panlilio, Ricky Vargas and
Gina Ordoñez encouraged the group to play an active role
in building the new workplace culture anchored on nation
building, customer centricity, and treating employees like
family. Attendees had the opportunity to voice out their
thoughts on the new PVMV and took part in fun, collaborative
games as a team. Their immersive experience included
walking down the legacy lane that showcased company
milestones, taking photos in the 360 booth, and bringing
home interactive toolkits to commemorate the culture event.
The org-wide PVMV launch is scheduled to be implemented
in 2023.
Health & Well-being
Amidst the new ways of working during the COVID-19
pandemic, PLDT and Smart continued to prioritize the
well-being of its employee community.
Under its MVP Group “We Got Your Vac” Program”,
employees and their dependents were inoculated with
the COVID-19 vaccine booster nationwide in partnership
with Metro Pacific Health and third-party medical provider
ActiveOne. The company also rolled out a Flu Vaccination
Program where 3,542 employees availed of the vaccines.
In line with PLDT and Smart’s flexible work arrangement
of on-site and remote working, it was also timely that
the company’s first medical services mobile application
was launched in February 2022. The PLDT HealthCare
Portal enabled employees to book in-person and virtual
appointments with doctors across various specializations
from PLDT’s nationwide clinics, and easily access their own
medical records, reports and prescriptions through the app.
Through this platform, PLDT and Smart aimed to deliver a
more seamless digital experience for all employees, assisting
them in their health-related needs.
Amidst another challenging and
transformative year, the PLDT
and Smart community continued
to work hard and foster a spirit
of resiliency – enabling them to
go above and beyond for their
customers, colleagues, and
loved ones.
Scan here for more information on
the PLDT People and Culture
PLDT 2022 ANNUAL REPORT
28
“Governance is everyone’s business -
the Board, top management, middle
management, rank and file. For all of us,
Corporate Governance should not just
be a set of rules to comply with, but a way
of life, a set of habits, an attitude. Indeed,
it is part of the culture that will ensure PLDT’s
success and prosperity in the long term.”
- Manuel V. Pangilinan, Chairman of the Board
CORPORATE GOVERNANCE REPORT
Accountability,
Integrity,
Fairness, &
Transparency
Adhering to our Core Principles of
Scan here for more information on
PLDT’s Corporate Governance Structure, Policies and Practices:
https://main.pldt.com/corporate-governance-in-pldt
PLDT 2022 ANNUAL REPORT
28
PLDT 2022 ANNUAL REPORT 29
PLDT 2022 ANNUAL REPORT 29
PLDT 2022 ANNUAL REPORT
30
Election of 13 PLDT Directors, including three Independent Directors, in the Annual Stockholders’
Meeting (“ASM”) on June 14, 2022
PLDT held its ASM on June 14, 2022, in virtual format with holders of 84.03% of the Company’s total outstanding shares of
Common and Voting Preferred Stocks as of the Record Date April 15, 2022 present via remote communication or represented
by proxies in the meeting. Stockholders elected to the Board during the ASM: Directors Mr. Manuel V. Pangilinan,
Mr. Manuel L. Argel, Jr., Ms. Helen Y. Dee, Atty. Ray C. Espinosa, Mr. James L. Go, Mr. Kazuyuki Kozu, Mr. Alfredo S. Panlilio,
Amb. Albert F. Del Rosario, Mr. Naoki Wakai, and Ms. Marife B. Zamora; and Independent Directors Hon. Artemio V.
Panganiban, Mr. Bernido H. Liu, and Ms. Bernadine T. Siy.
Appointment of the Chairman of the Board, Lead Independent Director, Members of the Advisory
Board/Committee, Chairmen, Members, and Advisors of the Board Committees, President and
CEO, and Other Officers of PLDT in the Organizational Board Meeting on June 14, 2022
The organizational meeting of the PLDT Board was held immediately after the adjournment of the ASM on June 14, 2022.
Director Mr. Manuel V. Pangilinan was appointed Chairman of the Board, Hon. Artemio V. Panganiban was appointed Lead
Independent Director, and the following were appointed as Advisory Board/Committee Members: Mr. Benny S. Santoso,
Mr. Orlando B. Vea, and Mr. Christopher H. Young. The members and advisors of the following Board Committees were
appointed: (i) Governance, Nomination and Sustainability Committee, (ii) Executive Compensation Committee, (iii) Audit
Committee, (iv) Risk Committee, (v) Technology Strategy Committee, and (vi) Data Privacy and Information Security
Committee. Mr. Alfredo S. Panlilio was appointed President and Chief Executive Officer, and other PLDT officers were
likewise appointed.
Review and approval of the Amended Charters of the Audit, Executive Compensation, Technology
Strategy, and Risk Committees of the Board
The Board reviewed and approved amendments to the Charters of the Audit, Executive Compensation, Technology Strategy,
and Risk Committees on March 22, 2022.
15
10
5
4
2
1
5
8
7
4
Meetings of the PLDT Board of Directors (“Board”) and 31 Board Committee
Meetings with focus on Management oversight, financial reporting, strategy,
internal controls & audit, independent audit, and corporate governance
Regular
Board
meetings
Governance,
Nomination and
Sustainability
Committee meetings
Special
Board
meetings
Executive
Compensation
Committee
meetings
Organizational
Board
meeting
Risk
Committee
meetings
Audit
Committee
meetings
Technology
Strategy Committee
meetings
Data Privacy and
Information Security
Committee meetings
Corporate Governance Report
2022: At a Glance
PLDT 2022 ANNUAL REPORT
30
PLDT 2022 ANNUAL REPORT 31
Review and approval of the PLDT Group Top Risks as identified by the Top Management Team
On February 18, 2022, the PLDT Board reviewed and approved the PLDT Group Top Risks as identified by the Top Management
Team. The Board, through its Risk Committee, also discussed with the Group Heads and relevant Risk Officers the risk profiles of
business and support groups.
Review of the Code of Business Conduct and Ethics, and Conflict of Interest Policy
The PLDT Board, acting through its Governance, Nomination and Sustainability Committee, on October 18, 2022, reviewed the
Company’s Code of Business Conduct and Ethics, and Conflict of Interest Policy and determined that these remain compliant
with applicable law, regulations and best practices and are appropriate for the Company.
PLDT Awarded ASEAN Asset Class in the 2021 ASEAN Corporate Governance Scorecard (“ACGS”)
Regional Virtual Awards and Three Golden Arrows for Good Governance in the 2022 ACGS Golden
Arrow Awards
On December 1, 2022, PLDT received recognition by being included in the ASEAN Asset Class Publicly Listed Companies for
the year 2021. The ACGS is a globally benchmarked scoring system designed to measure the performance of companies in the
areas of shareholder rights and equitable treatment of shareholders, transparency and accountability, and Board oversight on
Management. On January 20, 2023, the Company was likewise awarded Three Golden Arrows (with a score of 100-109) in the
2021 ACGS Scorecard.
Philippine Securities and Exchange Commission (“PSEC”) Approval of Amended PLDT By-Laws with
Adoption of Provisions in Compliance with the Revised Corporation Code (Republic Act No. 11232)
On September 9, 2022, the PSEC approved the Company’s Amended By-Laws which adopted provisions in compliance with
the Revised Corporation Code and the Code of Corporate Governance for Publicly Listed Companies, such as standards and
procedures on stockholder meetings, the conduct of virtual or in-person supplemented with virtual/hybrid meetings, voting by
remote communication or in absentia, and resort to arbitration, among others.
Annual Corporate Governance Enhancement Session (“ACGES”) for Directors and Key Officers on
the Metaverse featuring Mr. Matthew Ball and Ms. Sheila Marcelo
In collaboration with the Philippine-based affiliate companies of First Pacific Company Ltd., the PLDT Board organized on
September 22, 2022 its 16th ACGES held in virtual format on the topics, “The Metaverse and How it will Transform Business and
Human Interaction” by Mr. Matthew Ball, co-founder of Ball Metaverse Research Partners, author of the “Metaverse Primer” and
“The Metaverse and How it will Revolutionize Everything”, and former Head of Strategy at Amazon Studios (2016-2018); and
“Proof of Learn: A Philippine Perspective to the Metaverse” by Ms. Sheila Marcelo, co-founder and CEO of Proof of Learn.
The governance session received approval from the PSEC as an In-House Governance Training for directors and key officers.
PLDT 2022 ANNUAL REPORT 31
President & CEO Al S. Panlilio delivered the Welcome
Remarks and Chairman Manuel V. Pangilinan delivered
the Closing Remarks at the 2022 ACGES.
PLDT 2022 ANNUAL REPORT
32
CORPORATE GOVERNANCE REPORT
Corporate Governance in PLDT is shaped by our governance
structure and is animated by the Company’s principles, values,
and policies. Our corporate governance structure is outlined
in our Manual on Corporate Governance, along with the
Company’s Articles of Incorporation and By-Laws. Together,
they entrust authority and resources for the performance
of corporate functions and delineate responsibilities for
the exercise of such authority. The conduct of Company
business is anchored on the corporate governance principles
of Accountability, Integrity, Fairness and Transparency that
are defined in our Code of Business Conduct & Ethics (the
“Code”). The Code applies to our Board of Directors, officers,
executives, and employees. Commitment to the principles
and values established by the Code is likewise asked of the
Company’s business partners.
BOARD OF DIRECTORS
Our Board of Directors (the “Board”) is the body entrusted
by shareholders with authority to act for and on behalf of
the Company. As the highest governing body, the Board
is responsible for fostering the long-term success of the
Company and securing its sustained competitiveness and
profitability consistent with corporate objectives and the
best interest of the Company, its stockholders, customers,
and other stakeholders. It sets the standards and tone of
corporate action by the adoption of policies and processes
that are compliant with law, aligned with best practices, and
appropriate for the needs of the Company. Directors perform
their duties diligently and in good faith, and devote sufficient
time and attention for such purpose.
3.25 x 4
CORPORATE GOVERNANCE FRAMEWORK
BOARD COMMITTEES
Audit
Committee
Internal
Audit
CRMO/Group
Risk Mgmnt
Department
People
Group
People
Group
Corporate
Governance
Office
Sustainability
Office
Data Privacy
and Information
Security Group
Cyber Security
Operations
Group
Report
Assurance
Appointment
Committee Charter
Designation
Appointment
Appointment
Information
Annual Audit
Report
Accountability
Report
Oversight
Guidance
Report
Oversight
Guidance
Report
Report
Oversight
Guidance
Report
Oversight
Guidance
Report
Oversight
Guidance
Report
Report
Executive
Compensation
Committee
Risk
Committee
Technology
Strategy
Committee
Governance,
Nomination and
Sustainability
Committee
Data Privacy and
Information Security
Committee
Election
Report
Accountability
SHAREHOLDERS
BOARD OF DIRECTORS
CEO
MANAGEMENT
External
Auditor
PLDT 2022 ANNUAL REPORT 33
To ensure a high standard of governance for the Company,
the Board performs the following functions and duties with
the assistance of the Board Committees:
CORPORATE GOVERNANCE
The Board, with the assistance of the Governance,
Nomination and Sustainability Committee, establishes the
Company’s corporate governance framework, principles
and policies aligned with business objectives, and oversees
their implementation and the implementation of continuing
education and communication programs on good governance.
DETERMINATION AND REVIEW OF COMPANY
VISION, MISSION, AND STRATEGIC OBJECTIVES
The Board, in coordination with Management, determines
the Vision, Mission and Strategic Objectives of the Company
and reviews the same annually in relation to corporate
performance in its annual strategic planning session
with Management.
MANAGEMENT OVERSIGHT
The Board exercises oversight on Management in its
execution of the strategic direction and implementation
of policies set by the Board.
SUSTAINABILITY, CORPORATE SOCIAL
RESPONSIBILITY AND STAKEHOLDER ENGAGEMENT
The Board, with the assistance of the Governance, Nomination
and Sustainability Committee, establishes and oversees the
implementation of the Company’s sustainability strategy,
framework, programs, and policies; and oversees the
Company’s social investments and commitments to making
meaningful impact to communities. It ensures that the
Company has an investor relations program to engage with its
shareholders and the investing community at large, as well as
programs to interact and communicate with the communities
where the Company operates. It oversees the Company’s
disclosure of material and reportable information regarding
non-financial and sustainability matters, including those
concerning the management of economic, environmental,
social and governance (“EESG”) aspects of the business.
FINANCIAL REPORTING, INTERNAL CONTROL,
INTERNAL AUDIT, AND INDEPENDENT AUDIT
The Board, with the assistance of the Audit Committee,
carries out its oversight responsibilities for the Company’s
financial reporting, internal control system, internal audit and
independent audit mechanisms, and reviews material related
party transactions.
ENTERPRISE RISK MANAGEMENT
The Board, with the assistance of the Risk Committee, fulfills
its oversight responsibilities for the Company’s assessment,
management, and monitoring of key enterprise risks. It
reviews Management reports on the Company’s major risk
exposures and their corresponding mitigation measures.
TECHNOLOGY
The Board, with the assistance of the Technology Strategy
Committee, reviews and approves the Company’s technology
strategy and roadmap, and capital expenditures for network
and technology.
DATA PRIVACY AND INFORMATION SECURITY
The Board, with the assistance of the Data Privacy and
Information Security Committee, oversees data privacy and
information security governance; reviews and approves the
Company’s strategic plans on data privacy and information
security; oversees the adoption and implementation of a
system for identifying, assessing, monitoring, and managing
enterprise-wide data privacy and information security risks,
including its framework, structure, policies, standards,
and processes.
SUCCESSION PLANNING, PROFESSIONAL
DEVELOPMENT, AND EXECUTIVE COMPENSATION
The Board, through its Executive Compensation Committee,
reviews the criteria for employment, promotion, and
professional development plans for Senior Management,
keeps track of their performance, and evaluates their potential
for other critical roles and leadership paths. A succession
planning process is facilitated within the PLDT Group referred
to as the critical talent program. The Board is assisted by
the Executive Compensation Committee in developing the
compensation philosophy or policy consistent with the
strategy, culture, and control environment of the Company.
SELECTION PROCESS FOR DIRECTORS AND
APPOINTMENT OF OFFICERS
The Board, with the assistance of the Governance, Nomination
and Sustainability Committee, implements a selection process
to ensure that the Board has an effective and balanced mix
of knowledge, expertise, experience, and diversity in terms
of, among others, age, gender, and ethnicity, and reviews the
qualifications of officers to be appointed or promoted.
ANNUAL BOARD ASSESSMENT
The Board conducts an annual self-assessment to evaluate
the performance of the Board as a whole, the Board
Committees and the individual directors. Each Board
Committee also conducts an annual self-assessment of
its performance.
COMPOSITION Our Board is composed of 13 members,
with three independent directors, nine other non-executive
directors and one executive director. Three directors are
female and two are Japanese citizens. All the members of our
Board are qualified and competent directors with diverse and
complementing skills, expertise, experience, and knowledge
which enrich the collective processes and practices of our
Board. Our directors have extensive experience in their
respective fields or industries, such as telecommunications,
Information and Communication Technology (“ICT”), business
processing, infrastructure, power, insurance, real property
development, retail, law, and public administration. At
least three of our non-executive directors have extensive
experience in the telecommunications industry.
Chairman. Our Chairman provides leadership for the Board
and ensures that the Board works effectively and performs
its duties responsibly. He presides and facilitates discussions
in Board meetings focusing on strategic matters, risk
management, key issues and governance concerns that will
affect the business operations. The Chairman ensures that the
lines of communication and the flow of information between
Management and the Board are maintained and ensures
that the Board receives accurate, timely, relevant, insightful,
concise, and clear information to enable it to make sound
PLDT 2022 ANNUAL REPORT
34
decisions. On June 14, 2022, the Board appointed Mr. Manuel
V. Pangilinan as its Chairman at the Organizational Board
meeting held immediately following the adjournment of the
Company’s Annual Stockholders’ Meeting.
Independent Directors. The Board, having three
independent directors out of 13 directors, meets the
requirement under Section 38 of the Philippine Securities
Regulation Code that at least two or twenty percent (20%)
of the total members of the Board, whichever is less, must
be independent; and Section 22 of the Revised Corporation
Code that corporations vested with public interest shall
have independent directors constituting at least twenty
percent (20%) of such Board. Our independent directors,
namely, Retired Supreme Court Chief Justice Artemio V.
Panganiban, Ms. Bernadine T. Siy, and Mr. Bernido H. Liu,
were selected pursuant to the specific independence criteria
set out under applicable laws and rules, our By- Laws and
Manual on Corporate Governance (“CG Manual”). Under our
CG Manual, an independent director is, broadly, a person
who is independent of Management and who, apart from his
or her fees and shareholdings, is free from any business or
other relationship with the Company which could, or could
reasonably be perceived to, materially interfere with his or her
exercise of independent judgment in carrying-out his or her
responsibilities as a director of the Company. More specific
independence standard criteria are enumerated in our By-
Laws and CG Manual. Pursuant to the recommendation in the
Code of Corporate Governance for Publicly-Listed Companies
(“CG Code for PLCs”) for the appointment of a lead
independent director, the Board appointed Hon. Panganiban
as PLDT Lead Independent Director on June 14, 2022.
DIVERSITY PLDT considers having an optimally performing
diverse Board as an essential element for the attainment
of the Company’s strategic objectives and its sustainable
development. PLDT’s Board Diversity Policy articulates
the Company’s recognition of the enhanced quality of
performance and decision-making capability of a Board that
is composed of a mix of directors who are equipped with
knowledge, skills, professional or business experience, cultural
and educational background, ethnicity, gender, age, length
of service, and is a combination of executive, non-executive,
and independent directors. The Company’s Board Diversity
Policy provides that without infringing the cardinal right of
the stockholders to nominate and vote for the election of
directors, the Governance, Nomination and Sustainability
Committee and the Board shall consider the appropriate
mix, complementation and interplay of the various diversity
aspects in the selection of qualified director-nominees,
including independent director-nominees, who will be
recommended for election by the stockholders or the Board,
as the case may be, for the Company to achieve the benefits
of Board diversity as well as to fairly and effectively promote
the interest of all the stakeholders, particularly the long-term
interest of the stockholders of the Company.
For the purpose of selecting the members of our Board, the
Governance, Nomination and Sustainability Committee follows
the Company’s Guidelines on the Search, Screening and
Selection of Directors and Screening Checklist which contain,
among others, the criteria and qualifications for directorship
and a matrix on the skills, expertise and experience relevant to
the responsibilities of the Board, and considers other relevant
factors, such as conflict of interest and directorships and/or
positions in other corporations. The process ensures that the
selection of directors and independent directors is aligned
with the Board Diversity Policy and the Company’s Vision,
Mission, and strategic objectives.
40-60: 4 (31%)
>60-70: 3 (23%)
>70-80: 3 (23%)
>80: 3 (23%)
AGE (YEARS)
FEMALE: 3 (23%)
MALE: 10 (77%)
GENDER
YEARS IN TELECOM
AND/OR ICT BUSINESS
<10: 3 (23%)
10-20: 3 (23%)
>20: 7 (54%)
ETHNICITY
FILIPINOS:
11 (85%)
JAPANESE:
2 (15%)
ROLE / FUNCTION**
NED: 9 (69%)
ID: 3 (23%)
ED: 1 (8%)
1-10: 9 (69%)
>10-30: 3 (23%)
>30: 1 (8%)
YEARS IN PLDT AS DIRECTOR
BACKGROUND*
BUSINESS: 12 (92%)
ENGINEERING: 5 (38%)
LEGAL: 3 (23%)
PUBIC ADMIN: 3 (23%)
BOARD DIVERSITY FACTORS
*Several of our directors have professional background and business experience in more than one field.
**NED: Non-Executive Director, ID: Independent Director, and ED: Executive Director
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 35
DIRECTORSHIPS IN OTHER CORPORATIONS
Our Board adheres to a performance-based standard in
determining whether directorships in other companies
compromise the capacity of a director to serve or perform his
or her duties and responsibilities to the Company diligently
and efficiently. Differences in individual capabilities and the
nature and demands of directorships in other companies are
given due consideration in determining fitness and capacity
to serve in our Board.
MEETINGS Our Board meets, more or less, on a monthly
basis, in accordance with the schedule of meetings that it sets
at the end of the preceding year. Invariably, some of these
meetings are devoted to the review and/or approval of the
Company’s Vision and Mission, the strategic plans and budget,
business operations updates, network and technology
updates, capital expenditures and investments, risk
management reports and sustainability programs. Once every
quarter, our Board reviews the quarterly financial reports. The
MANAGEMENT OVERSIGHT 27%
STRATEGIC DIRECTION, TECHNOLOGY & CORPORATE
PERFORMANCE 14%
STAKEHOLDER ENGAGEMENT AND CSR 13%
FINANCIAL REPORTING, INTERNAL CONTROLS & AUDIT,
AND INDEPENDENT AUDIT 24%
ENTERPRISE RISK MANAGEMENT 6%
CORPORATE GOVERNANCE 16%
2022
BOARD
ACTIVITIES
2022 BOARD MEETINGS AND ANNUAL STOCKHOLDERS’
MEETING (ASM) ATTENDANCE
Non-executive Directors
Board Meetings
Attended/Held
(%)
ASM
Attendance
Manuel V. Pangilinan
15/15 (100%)
Manuel L. Argel, Jr.
15/15 (100%)
Helen Y. Dee
14/15 (93%)
Albert F. del Rosario
15/15 (100%)
Ray C. Espinosa
15/15 (100%)
James L. Go
15/15 (100%)
Naoki Wakai
13/15 (87%)
Kazuyuki Kozu
15/15 (100%)
Marife B. Zamora
15/15 (100%)
Executive Director
Alfredo S. Panlilio
15/15 (100%)
Independent Directors
Artemio V. Panganiban
15/15 (100%)
Bernido H. Liu
15/15 (100%)
Bernadine T. Siy
15/15 (100%)
Advisory Board Members
Christopher H. Young
15/15 (100%)
Benny S. Santoso
15/15 (100%)
Oscar S. Reyes1
7/7 (100%)
Orlando B. Vea
15/15 (100%)
1 Until June 14, 2022
Board holds executive sessions with independent directors
and non-executive directors, excluding executive directors,
at least once a year and at such other times as the Board
may deem necessary or appropriate. The Board held one
executive session in 2022.
There were 15 Board meetings in 2022, ten of which were
regular Board meetings, four special Board meetings, and
one organizational Board meeting. In each meeting, a
quorum of at least two-thirds (2/3) of the Board members,
including at least one independent director, was present.
All independent directors were present in the Annual
Stockholders’ Meeting held on June 14, 2022. The respective
Chairpersons of the Audit; Governance, Nomination and
Sustainability; Executive Compensation; Risk; Technology
Strategy; and Data Privacy and Information Security
Committees were likewise present in the said meeting.
PLDT 2022 ANNUAL REPORT
36
COMPENSATION All our directors are entitled to a per diem of Php250 thousand for attendance in each Board meeting
and Php125 thousand for attendance in each meeting of the Board Committees in which some of them are members. Save
for our executive director, our directors do not receive stock options, performance incentives, bonuses, or any other form of
compensation from the Company.
2022 BOARD REMUNERATION (PHP)
Non-executive Directors
Board Meetings & ASM1
Board Committee Meetings
Total
Manuel V. Pangilinan
3,500,000
2,000,000
5,500,000
Manuel L. Argel, Jr.
3,500,000
-
3,500,000
Helen Y. Dee
3,250,000
-
3,250,000
Albert F. del Rosario
3,500,000
875,000
4,375,000
Ray C. Espinosa
3,500,000
1,250,000
4,750,000
James L. Go
3,500,000
2,500,000
6,000,000
Naoki Wakai
3,000,000
-
3,000,000
Kazuyuki Kozu
3,500,000
3,875,000
7,375,000
Marife B. Zamora
3,500,000
-
3,500,000
Executive Director
Alfredo S. Panlilio
3,500,000
1,625,000
5,125,000
Independent Directors
Artemio V. Panganiban
3,500,000
2,500,000
6,000,000
Bernido H. Liu
3,500,000
3,000,000
6,500,000
Bernadine T. Siy
3,500,000
2,500,000
6,000,000
Total
44,750,000
20,125,000
64,875,000
1 Only one per diem was given to directors for attendance in the Annual Stockholders’ Meeting, Regular Meeting and Organizational Meeting on
June 14, 2022.
ATTENDANCE IN 2022 BOARD COMMITTEE MEETINGS
Board Committee Members
Audit
Committee
(AC)
Governance,
Nomination and
Sustainability
Committee
(GNSC)
Executive
Compensation
Committee
(ECC)
Risk
Committee
(RC)
Technology
Strategy
Committee
(TSC)
Data Privacy
and Information
Security
Committee
(DPISC)
Manuel V. Pangilinan
5/5
2/2
6/7
3/4
Alfredo S. Panlilio1
3/3
7/7
3/4
Bernido H. Liu2
8/8
5/5
2/2
5/5
4/4
Artemio V. Panganiban2
8/8
5/5
2/2
5/5
Bernadine T. Siy2
8/8
5/5
2/2
5/5
Albert F. del Rosario
7/7
Ray C. Espinosa
7/7
3/4
James L. Go3
8/8
5/5
7/7
Kazuyuki Kozu3
8/8
5/5
2/2
5/5
7/7
4/4
Roberto R. Romulo3,6
1/1
Oscar S. Reyes4,5
4/4
Orlando B. Vea5
7/7
Corazon S. De la Paz-
Bernardo3
8/8
Anabelle L. Chua5
2/2
Gina Marina P. Ordonez5
5/5
2/2
Melissa Vergel de Dios5
5/5
1 Appointed as Advisor of the Governance, Nomination and Sustainability Committee on March 22, 2022
2 Independent Director
3 Audit Committee Advisor
4 Until June 14, 2022
5 Non-voting member
6 Until January 22, 2022
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 37
TRAINING For the orientation of new directors, the
Chairman, the President and CEO, Chief Financial Officer,
Corporate Secretary and Chief Governance Officer give a
briefing on the Company’s structure, business, operating
and financial highlights, responsibilities of the Board and
its Committees and how each operates. The new director is
furnished with copies of all relevant corporate documents,
including the Company’s Articles of Incorporation, By-Laws,
Annual Report, CG Manual, Code of Ethics, and the Charters
of the Board and Board Committees. Updates on business
and governance policies and requirements principally from
the Philippine Securities and Exchange Commission (“PSEC”),
US SEC, and New York Stock Exchange (“NYSE”), and new
laws applicable or relevant to the Company and its business,
particularly on financial reporting and disclosures and
corporate governance, are presented in Board meetings
and/or furnished to the directors.
The Board keeps abreast of industry developments, business
trends and legal requirements relevant to the Company
and its operations. Since 2007, the Company has organized
Annual In-house Corporate Governance Enhancement
Sessions (“ACGES”) that provide opportunity for leadership to
engage in discussion with international and local experts on
relevant topics, including emerging trends and technologies,
new laws, and best business practices. The Company
conducted the ACGES for the Board and Management in
collaboration with Philippine-based affiliate companies of
First Pacific Company Ltd. on September 22, 2022, on the
topics: “The Metaverse and How it will Transform Business
and Human Interaction” by Mr. Matthew Ball, Co-founder of
Ball Metaverse Research Partners, author of the “Metaverse
Primer” and “The Metaverse and How it will Revolutionize
Everything”, and former Head of Strategy at Amazon Studios
(2016-2018); and “Proof of Learn: A Philippine Perspective
to the Metaverse” by Ms. Sheila Marcelo, Co-founder and
CEO of Proof of Learn. In PLDT, the ACGES was attended
by 92% of our Directors,2 all of our Advisory Board and
Board Committee Members and Advisors, and 81 of the
Company’s Officers.
2 PLDT Director, Mr. James L. Go has been granted by the PSEC permanent exemption from its governance training requirement.
3 Mr. Oscar S. Reyes was a member of the Advisory Board/Committee until June 14, 2022.
PERFORMANCE ASSESSMENT Our directors take part in
an annual assessment process which reviews and evaluates
the performance of the whole Board, the Board Committees
and the individuals that comprise these bodies. This process
enables the Board to identify its strengths and areas for
improvement and elicit individual director feedback and
views on the Company’s strategies, performance, and future
direction. Each Board Committee also conducts an annual
self-assessment of its performance.
The Board Committees’ self-assessment questionnaires
contain the following criteria based on leading practices and
principles on good governance: for the Board (i) Structure,
Leadership, Roles and Responsibilities, Internal Control,
Code of Conduct and other CG Policies, Independence,
Stewardship, Resources, Internal Governance, Reporting
and Disclosure, and Shareholder and other Stakeholder
Engagement; for the Board Committees (ii) the respective
purposes, functions and duties of the Committees; and for
individual directors (iii) the specific duties and responsibilities
of a director. On the other hand, the Board Committees’
self-assessment questionnaires contain the following criteria:
performance, compliance, and committee governance. The
report on the results of the assessment process for the 2021
performance period was submitted to the directors in 2022.
Prospectively, the annual self-assessment shall, as practicable,
be supported by an external facilitator every three years and
allow for a feedback mechanism for stockholders, to conform
with the recommendation in the CG Code for PLCs.
BOARD COMMITTEES
To aid in ensuring compliance with the principles of good
corporate governance, our Board has constituted the
following Board Committees: Audit; Governance, Nomination
and Sustainability; Risk; Executive Compensation; Technology
Strategy; and Data Privacy and Information Security.
ADVISORY BOARD/COMMITTEE
Our Board is supported by an Advisory Board/Committee
that provides guidance and suggestions, as necessary,
on matters deliberated upon during Board meetings. Our
Advisory Board/Committee is composed of Mr. Benny S.
Santoso, Mr. Orlando B. Vea, and Mr. Christopher H. Young.3
PLDT’s other Board Committees, namely Audit; Governance,
Nomination and Sustainability; Executive Compensation;
Risk; Technology Strategy; and Data Privacy and Information
Security Committees assist the Board in the performance
of its functions and responsibilities. The respective charters
of the Board Committees provide that each shall have
the necessary resources and authorities to discharge
their responsibilities, including obtaining external legal or
professional advice.
AUDIT COMMITTEE (“AC”)
Composition. Our AC is composed of three members, all of
whom are independent directors, and three advisors. The AC
members are: Retired Supreme Court Chief Justice Artemio
V. Panganiban, Mr. Bernido H. Liu, and Ms. Bernadine T. Siy,
who is the Chairperson. The AC advisors include Mr. Kazuyuki
Kozu and Mr. James L. Go, who are non-executive directors,
and Ms. Corazon S. de la Paz- Bernardo, a former member of
our Board. All the members of our AC are financially literate,
and Ms. de la Paz-Bernardo has expertise in accounting and
financial management. She is a former Chairperson and Senior
Partner of Joaquin Cunanan & Company, now Isla Lipana &
Co., a member firm of Pricewaterhouse Coopers (PwC).
Functions. The AC assists the Board in fulfilling its oversight
responsibility for: (i) the integrity of the Company’s
accounting and financial reporting principles and policies,
and system of internal controls, including the integrity
of financial statements (“FS”) and the independent audit
PLDT and SMART Corporate Communications Head, Cathy Yap-Yang
with ACGES headline speaker, Ball Metaverse Research Partners’
Co-founder and metaverse author, Matthew Ball; PLDT Enterprise
and International Business Head, Jojo Gendrano; Voyager Innovations
President and Maya Bank Co-founder and Director, Shailesh Baidwan;
and Meralco Head of Information, Communication, Technology and
Transformation, Rocky Bacani.
PLDT 2022 ANNUAL REPORT
38
thereof; (ii) the Company’s compliance with legal and
regulatory requirements; (iii) the Company’s audit process;
and (iv) the performance of the Internal Audit organization
and the external auditors (including the external auditors’
qualifications and independence). For efficiency, the Board
has determined that in lieu of creating a distinct Related
Party Transactions (RPT) Committee, the AC’s functions shall
include the review of material RPTs and significant unusual
transactions, in accordance with the materiality threshold
set in the Material Related Party Transactions Policy and the
Guidelines on the Proper Handling of RPTs or by the Board.
The purposes, duties and powers of the AC are set forth in
its charter.
The charter of the AC may be viewed and
downloaded from the PLDT website through the
QR code:
Activities. The PLDT AC held a total of eight joint meetings
with the Audit Committees of Smart Communications, Inc.
(“Smart”) and Digital Telecommunications Philippines, Inc.
(“DTPI”). The joint meetings of the PLDT, Smart, and DTPI
Audit Committees covered a variety of topics including
the approval of the Group-wide Internal Audit (“IA”) Plan
for 2022 and subsequent changes to the plan to address
emerging risks. The AC likewise discussed, reviewed, and
noted the comprehensive reports of the PLDT Group Internal
Audit Head on various topics supporting risk management,
governance, and internal control processes of the different
areas and units, including assessment on operational
efficiencies, revenue opportunities and cost savings, among
others. The AC discussed and noted the reports by IA on its
Sarbanes-Oxley Act Section 404 (“SOX 404”) year-round
activities in coordination with Finance and the Control
Owners across the PLDT Group. As part of IA’s initiatives
to strengthen the culture of ownership and accountability
across the PLDT Group, the AC likewise regularly monitored
and received updates on: (i) the timely remediation of audit
issues and the conduct of accountability and culture-building
trainings during the year together with People Group through
its Project OWN program, and (ii) progress of Project Ripple
which aims to integrate and align the assurance activities
across the three lines of defense in the organization.
The AC reviewed and discussed with the Chief Financial
Officer (“CFO”) and the PLDT Group Controller the quarterly
unaudited financial results, as prepared and provided by
Management, with particular focus on significant accounting
policies, new accounting standards and their impact to
the PLDT Group, and major management estimates and
judgments, among others. The AC also discussed with
them the Company’s 2021 Annual Reports on Form 17-A
for the PSEC, and on Form 20-F for the U.S. SEC. The AC
recommended to the Board the reappointment of SyCip,
Gorres, Velayo & Co. (“SGV”) as the external auditor for
the Company and its subsidiaries for 2022. It reviewed and
approved SGV’s various audit and non-audit engagements;
and verified that such non-audit services would not
compromise its independence. The AC discussed with SGV
their plan and status reports for the integrated audit of the FS
for 2022 and their assessment of the effectiveness of internal
controls over financial reporting (“ICFR”).
In 2022, the AC reviewed and approved all Related Party
Transactions discussed and endorsed by the CFO. The AC
also reviewed the Corporate Governance Office’s status
reports on complaints received pursuant to the Company’s
Expanded Whistleblowing Policy. It also confirmed the
continued validity of the IA Charter until its next review in 2023
and reviewed the AC Charter and recommended amendments
for approval by the Board. The AC likewise invited the Chief
Information Security Officer, the Chief Legal Counsel, the
concerned Heads of the Network Group, Consumer Business
Home, and Finance Group to provide updates on risk
mitigation or remediation for the noted audit items.
GOVERNANCE, NOMINATION AND SUSTAINABILITY
COMMITTEE (“GNSC”)
Composition. Our GNSC is composed of five voting members,
all of whom are members of our Board of Directors, three non-
voting members, and an advisor. Three of the voting members
are independent directors, namely, Retired Supreme Court
Chief Justice Artemio V. Panganiban, Ms. Bernadine T. Siy, and
Mr. Bernido H. Liu, and two are non-executive directors, namely,
Mr. Kazuyuki Kozu and Mr. Manuel V. Pangilinan, who is the
Chairman. The non-voting members are the Chief Governance
Officer, the Chief People Officer, and the Chief Sustainability
Officer. The GNSC advisor is executive director, Mr. Alfredo
S. Panlilio.4
Functions. The GNSC assists the Board in the performance
of its functions to: (i) establish the Company’s corporate
governance framework, principles and policies and oversee
their implementation and the implementation of continuing
education and communication programs on good governance;
(ii) develop and implement the Board’s performance evaluation
process, as well as the evaluation process for the annual review
of Board Committees and individual directors’ performance;
(iii) review and evaluate the qualifications of the persons
nominated to the Board and to other positions requiring
appointment by the Board; (iv) identify persons qualified to
become members of the Board and/or the Board Committees;
(v) make an assessment of the effectiveness of the Company’s
nomination and selection process for the Board and Board
Committees; (vi) establish the Company’s sustainability
strategy, framework, programs, policies and oversee their
implementation; and (vii) oversee the Company’s social
investments and commitments to making meaningful impact
to communities. The purposes, duties, and powers of the GNSC
are set forth in its charter.
The charter of the GNSC may be viewed and
downloaded from the PLDT website through the
QR code.
Activities. The GNSC held five meetings in 2022. The GNSC’s
activities pursuant to its oversight function on governance-
related matters included the following:
On policy review and development, in line with the periodic
review of Company policies, the GNSC reviewed the (i) Code
of Business Conduct and Ethics, and (ii) Conflict of Interest
Policy, and determined that the said policies remain to be
compliant with applicable law, regulations and best practices
and are appropriate for the Company. The GNSC advised
the Corporate Governance Office to continue to strengthen
the implementation of the said policies by evaluation and
benchmarks. The GNSC likewise reviewed and approved PLDT’s
Integrated Annual Corporate Governance Report that was
submitted to the PSEC and PSE in compliance with the CG Code
for PLCs and related PSEC and PSE memorandum circulars.
On education and communication, the GNSC provided
guidance on and approved the topics, speakers, and the
content of PLDT’s Annual Corporate Governance Enhancement
4The PLDT Board appointed Mr. Alfredo S. Panlilio advisor to the GNSC on March 22, 2022.
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 39
Session for Directors and Officers. The GNSC likewise reviewed
and approved PLDT’s Corporate Governance Report for 2021.
On compliance and enforcement, the GNSC noted the
implementation of PLDT’s Expanded Whistleblowing (“EWB”)
Policy and the monitoring of cases or reports, including
those endorsed to line management for handling. The GNSC
also noted the EWB reports of PLDT subsidiaries, Smart
Communications, Inc. (“SMART”), PLDT Global Corporation
(“PGC”), ePLDT, Inc. (“ePLDT”), Digital Telecommunications
Philippines, Inc. (“DTPI”) and Digitel Mobile Philippines, Inc.
(“DMPI”). On December 1, 2022, PLDT implemented the
new online EWB reporting facility as an additional reporting
channel to supplement the existing helplines. The GNSC
likewise reviewed and noted or approved, as applicable, the
COI disclosures and the appropriate risk mitigation plans of
PLDT key employees. In line with annual COI compliance, PLDT
and SMART recorded 100% employee disclosure compliance
for the covered year. The GNSC also assisted in implementing
the Board Performance Assessment for the year 2021, which
included the performance evaluation of the Board Committees
and individual directors.
The GNSC’s activities pursuant to its oversight function on
nomination-related matters included the following: (i) pre-
screened candidates nominated to become Directors and
the qualifications of candidates for Independent Directors
and submitted to the Board the final list of qualified Director
and Independent Director nominees for election at the 2022
Annual Stockholders’ Meeting; (ii) screened and recommended
to the Board the appointment of a Lead Independent Director;
and reviewed and confirmed People Group’s evaluation of the
qualifications of officers, and recommended their appointment
or re-appointment as such at the 2022 Organizational Meeting
of the Board of Directors; (iii) screened and recommended to
the Board the appointment of an advisor and a non-voting
member to the GNSC and Risk Committee (“RC”), respectively;
and (iv) reviewed and confirmed People Group’s evaluation of
proposed appointments of new officers, and promotions to
officer rank for approval by the Board.
The GNSC’s activities pursuant to its oversight function on
sustainability-related matters included the following: discussed
and noted or approved reports on PLDT’s Sustainability
Emissions Reduction Targets and Decarbonization Roadmap,
Sustainability Report for 2021, PLDT’s headship of the
Planet Pillar of the United Nations Global Compact Network
Philippines (“UNGCNP”), inclusion of the Company in
the ATRAM Philippine Sustainable Development Growth
Fund, participation in the National Economic Development
Authority’s Stakeholder Chamber on the Sustainable
Development Goals and the 6th Exponential Climate Action
Summit, launch of the Sustainability Learning Program,
partnerships on the Connected Mangroves Project, solar
rooftop project, and project for the supply of clean energy to
PLDT and SMART facilities; PLDT’s Statement of Commitment
on sustainability; and reviewed and recommended for Board
approval the Responsible Tax Governance and Management
Policy, and the Diversity and Inclusion Policy.
EXECUTIVE COMPENSATION COMMITTEE (“ECC”)
Composition. Our ECC is composed of five voting members,
all of whom are members of our Board of Directors, and
one non-voting member. Three of the voting members are
independent directors, namely, Retired Supreme Court Chief
Justice Artemio V. Panganiban, Ms. Bernadine T. Siy, and
Mr. Bernido H. Liu, and two are non-executive directors, namely,
Mr. Kazuyuki Kozu and Mr. Manuel V. Pangilinan, who is the
Chairman. The non-voting member is the Chief People Officer.
Functions. The ECC assists the Board in the performance of its
functions to: (i) oversee the development of a compensation
philosophy or policy consistent with the strategy, culture and
control environment of PLDT; (ii) oversee the development and
administration of PLDT’s executive compensation programs,
including long term incentive plans and equity-based plans
for officers and executives; (iii) oversee the development and
administration of the Company’s performance management
framework to monitor and assess the performance of
Management; (iv) review the succession plan for officers,
including the CEO; and (v) oversee the development and
implementation of professional development programs for
officers. The purposes, duties, and powers of the ECC are set
forth in its charter.
The charter of the ECC may be viewed and
downloaded from the PLDT website through the
QR code:
Activities. The ECC held two meetings in 2022. Its activities for
the year included the review and/or approval of the following:
(i) proposed amendments to the Executive Compensation
Committee Charter, (ii) Awarding of the Short-Term Incentive
Plan (“STIP”) and the 2020-2021 Long-Term Incentive Plan
(“LTIP”), (iii) Proposed Incentive for the Company’s key
transformation programs and initiatives, and (iv) Management’s
proposal on the Sustainability and Customer Experience (“CX”)
LTIP scorecard.
RISK COMMITTEE (“RC”)
Composition. Our RC is composed of five voting members,
all of whom are members of our Board of Directors, and a non-
voting member. Three of the voting members are independent
directors, namely, Ms. Bernadine T. Siy, Mr. Bernido H. Liu, and
Retired Supreme Court Chief Justice Artemio V. Panganiban,
who is the Chairman. Two voting members are non-executive
directors, namely, Mr. Kazuyuki Kozu and Mr. James L. Go.
The non-voting member is the Chief Risk Management Officer.
Functions. The RC assists the Board in the performance
of its functions to: (i) oversee Management’s adoption and
implementation of a system for assessing, monitoring, and
managing key risk areas; (ii) review Management’s reports
on the Company’s major risk exposures; and (iii) review
Management’s plans and actions to minimize, control or
manage the impact of such risks. The purposes, duties and
powers of the RC are set forth in its charter.
The charter of the RC may be viewed and
downloaded from the PLDT website through the
QR Code:
Activities. The RC held five meetings in 2022. Its activities for
the year included the following: (i) review of the PLDT Group
Top Risks as identified by the Management Team; (ii) review
and monitoring of progress on the rollout of the Enhanced
Enterprise Risk Management Framework with the Head of the
PLDT GRMD; (iii) review and endorsement of the renewal of
the Property & Cyber Insurance Policy with the Center Head for
Insurance, (iv) revision of the Risk Committee Charter; and
(v) review and discussion with Heads and relevant officers of
the risk profiles of the following: (a) Legal & Regulatory Affairs
PLDT 2022 ANNUAL REPORT
40
Unit, (b) Revenue Group, (c) People Group, (d) Business
Continuity and Resiliency Office, (e) Network Group,
(f) Customer Experience Group, (g) Supply Chain Management
and Administration Group, (h) Transformation Office, (i) Digital
Office, (j) Cyber Security Operations Group, and (k) Privacy Office.
TECHNOLOGY STRATEGY COMMITTEE (“TSC”)
Composition. Our TSC is composed of six voting members
and one non-voting member. The six voting members are
non-executive directors Mr. Manuel V. Pangilinan, who serves as
chairman, former Ambassador Albert F. del Rosario, Atty. Ray C.
Espinosa, Mr. James L. Go, and Mr. Kazuyuki Kozu and executive
director, Mr. Alfredo S. Panlilio. The lone non-voting member is
Mr. Orlando B. Vea, who is a member of our Advisory Board/
Committee.5
Functions. The TSC assists and enables the Board to: (i) review
and approve the strategic vision for the role of technology
in PLDT’s overall business strategy, including the technology
strategy and roadmap of PLDT; (ii) fulfill its oversight
responsibilities for PLDT’s effective execution of its technology-
related strategies; and (iii) ensure the optimized use and
contribution of technology to PLDT’s business and strategic
objectives and growth targets. The purposes, duties, and powers
of the TSC are set forth in the TSC Charter.
The charter of the TSC may be viewed and
downloaded from the PLDT website through the
QR Code:
Activities. The TSC held seven meetings in 2022. Its activities
included review and discussion, together with the Technology
Group and Management, and where appropriate, endorsement
to the Board for approval, of the following: (i) technology
budget items (e.g., Install and Repair budget); (ii) status of
the network (including Typhoon Odette’s impacts on the
network, and actions taken to respond to the damage brought
on by the typhoon); (iii) technology strategies, programs,
projects, initiatives and plans, including, among others, the
Fiber to the Home (FTTH) Rollout and the Outside Plant
(OSP) Rehabilitation Program; and (iv) projects in support of
business operations including, among others, the consolidated
device buying plan. The TSC also cleared the Draft Amended
Technology Strategy Committee Charter for presentation to,
and approval by the Board.
DATA PRIVACY AND INFORMATION SECURITY
COMMITTEE (“DPISC”)
Composition. Our DPISC is composed of four voting members
and an advisor. The four voting members are non-executive
directors Mr. Manuel V. Pangilinan, who is the Chairman, Atty.
Ray C. Espinosa, Mr. Kazuyuki Kozu, and independent director,
Mr. Bernido H. Liu. Its advisor is executive director, Mr. Alfredo
S. Panlilio.
Functions. The DPISC assists the Board in the performance of
its functions to (i) promote and foster a culture of data privacy
and information security governance; (ii) review and approve
the Company’s strategic plans on data privacy and information
security; (iii) ensure accountability for compliance with
regulatory standards and best practices on data privacy and
information security; and (iv) oversee Management’s adoption
and implementation of a system for identifying, assessing,
monitoring and managing enterprise-wide data privacy and
information security risks, including its framework, structure,
policies, standards, and processes. The purposes, duties, and
powers of the DPISC are set forth in its charter.
A copy of the charter of the DPISC may be viewed
and downloaded from the PLDT website through the
QR code:
Activities. The DPISC held four meetings in 2022. Its activities
included the review and discussion of emerging risks in
privacy and information security, and the trends in regulatory
approaches and global best practices in addressing such
risks. Incidents of smishing and SMS spam, which have seen a
marked increase as more people transacted online due to the
pandemic, continued in 2022. The Committee provided key
guidance in the Company’s response, as the Company worked
closely with Government regulators, other telecommunications
companies, the banks, and the fintech sector in protecting the
public. The Company also assisted law enforcement in their
efforts to apprehend the perpetrators.
The DPISC likewise discussed the automation efforts of the
Cybersecurity Operations Group and the Privacy Office. These
initiatives are meant to improve the units’ effectiveness and
efficiency in protecting the Company’s network and the data of
its customers. Also extensively discussed were the Company’s
preparations for the implementation of the SIM Registration
Act, particularly in privacy and information security.
MANAGEMENT
Our Board exercises oversight on Management in accordance
with the standards set forth in our CG Manual. The roles
of Management and other offices involved in ensuring
implementation of the corporate governance policies and
requirements are discussed below.
President and CEO. The President and CEO has general care,
management, and administration of the business operations of
the Company. He ensures that the business and affairs of the
Company are managed in a sound and prudent manner and
that operational, financial, and internal controls are adequate
and effective to ensure reliability and integrity of financial
and operational information, effectiveness, and efficiency
of operations, safeguarding of assets and compliance with
laws, rules, regulations, and contracts. He provides leadership
for Management in developing and implementing business
strategies, plans and budgets to the extent approved by the
Board. To enable the members of the Board to properly fulfill
their duties and responsibilities, the CEO provides the Board
with a balanced and understandable account of the Company’s
performance, financial condition, results of operations and
prospects on a regular basis. He directs Management to provide
the Board/directors with adequate and timely information
about the matters to be taken up in their Board meetings. He
likewise ensures that the directors have independent access
to Management. The President and CEO communicates
and implements the Company’s Vision, Mission, Values, and
overall strategy and promotes the appropriate enhancement
in the organization or its stakeholder engagement in relation
to the same. The President and CEO likewise serves as the
link between internal operations and external stakeholders.
Under the leadership of the President and CEO, Management
formulates, with the oversight of the Audit Committee, financial
reporting and internal control systems, rules and procedures.
On June 14, 2022, the PLDT Board appointed Mr. Alfredo
S. Panlilio as President & CEO at the Organizational Board
meeting held immediately following the adjournment of the
Company’s Annual Stockholders’ Meeting. Other duties of the
President are set forth in the CG Manual.
5Mr. Oscar S. Reyes, a former member of our Advisory Board/Committee, was a non-voting member of the TSC until June 14, 2022.
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 41
Corporate Secretary. The Corporate Secretary assists the
Board in the conduct of its meetings, including the preparation
of the schedule and agenda of Board meetings, and ensures
that all Board procedures, rules, and regulations are observed
by the directors, and Management provides the Board with
complete and accurate information necessary for judicious
decision making. The Corporate Secretary is responsible
for the safekeeping and preservation of the integrity of the
minutes of the meetings of the Board and Board Committees,
as well as other official records of the Company, and
contributes to the flow of information between the Board and
Management, the Board and its Committees, and the Board
and the Company’s stakeholders, including stockholders.
Chief Financial Officer. Our Chief Financial Officer (“CFO”)
is responsible for overseeing the Company’s financial
operations and decision-making based on short and long-
term strategic financial objectives. The CFO works closely
with the President & CEO in establishing best practices in
the implementation and communication of finance functions,
programs and operations covering business finance, financial
controllership, tax management and advocacy, treasury,
and revenue assurance and fraud risk management. The
CFO likewise oversees asset management, strategic investor
relations functions, compliance with relevant public disclosure
requirements and financial standards, and the development
of strategic plans to improve the Company’s overall financial
health and long-term viability.
Chief Audit Officer/Internal Audit Head. Our Chief Audit
Officer/Internal Audit Head oversees and is responsible
for the internal audit activities of the Company, including
any portion thereof that is outsourced to a third-party
service provider. He reports functionally to the AC and
administratively to the President and CEO. In the discharge
of his duties, the Chief Audit Officer/Internal Audit Head is
required to provide annually, an assessment on the adequacy
and effectiveness of the Company’s processes for controlling
activities and managing risks; report significant issues related
to the processes of controlling activities, including potential
improvements to such processes, as well as provide status
of management remediation concerning such issues; and
periodically provide information on the status and results
of the annual internal audit plan and the sufficiency of our
internal audit organization’s resources. Other duties of the
Chief Audit Officer/Internal Audit Head are set forth in the
CG Manual.
Internal Audit Organization. Our Internal Audit organization
determines whether the Company’s structure of risk
management, control and governance processes are adequate
and functioning, and provides reasonable assurance that,
among others, significant financial, management, and
operating information are accurate, reliable, and timely, and
employees’ actions are in compliance with policies, standards,
procedures, and applicable laws and regulations. It provides
a systematic and disciplined approach to the evaluation and
improvement of the effectiveness of such processes. Internal
audit examinations cover, at the minimum, the evaluation
of the adequacy and effectiveness of controls covering the
Company’s financial reporting, governance, operations and
information systems, including the reliability and integrity
of financial and operational information, effectiveness and
efficiency of operations, protection of assets, and compliance
with laws, rules, regulations, and contracts. It also provides
recommendations on revenue opportunities, cost savings and
operational improvements. The internal audit organization
complies with the International Standards for the Professional
Practice of Internal Auditing.
External Auditor. The Company’s external auditor is appointed
by the AC which reviews its qualifications, performance, and
independence. To ensure objectivity in the performance of its
duties, the external auditor or its lead audit partner is subject
to the rules on rotation and change, every five years; general
prohibition on hiring by the Company of the external auditor’s
staff; and full and appropriate disclosure to, and prior approval
by the AC of all audit and non-audit services and related
fees. Approval of non-audit work by the external auditor is
principally tested against the standard of whether such work
will conflict with its role as an independent auditor or would
compromise its objectivity or independence as such. Our
external auditor is SGV & Co., a member practice of EY.
Chief Governance Officer. The primary responsibilities of the
Chief Governance Officer include monitoring compliance with
the provisions and requirements of corporate governance laws,
rules and regulations, reporting violations and recommending
the imposition of disciplinary actions, and adopting measures
to prevent the repetition of such violations. The Chief
Governance Officer assists the Board and the GNSC in
the performance of their governance functions. Under the
supervision and direction of the Chief Governance Officer, the
Corporate Governance Office assists in the implementation of
the corporate governance policies adopted by the Board.
Chief Risk Management Officer. The Chief Risk Management
Officer (“CRMO”) is tasked to: (i) plan the overall strategy of
the different risk management units of the PLDT Group;
(ii) review individual risk management activities and controls
of the operational units; (iii) review internal and external factors
that can negatively affect the PLDT Group risk profile;
(iv) influence, and when necessary, challenge material risk
decisions and initiatives; (v) monitor to ensure that risks are
within the bounds of the risk appetite of the PLDT Group; and
(vi) review and escalate risks to the Top Management Team,
the Risk Committee and the Board, as necessary, advising them
on requisite actions.
Group Enterprise Risk Management Department Head.
Our Group Enterprise Risk Management Department Head
supervises the ERM process and spearheads the development,
implementation, and improvement of ERM processes and
documentation, and communicates the top risks and status of
implementation of risk management strategies and action plans
to the CRMO, Chief Executive Officer, and the Risk Committee.
Group Enterprise Risk Management Department.
The Group Enterprise Risk Managment Department
(“GRMD”) provides support to the CRMO by implementing
an integrated risk management program with the goal of
identifying, analyzing, and managing the PLDT Group’s risks
to an acceptable level in order to enhance opportunities,
reduce threats, and sustain competitive advantage. The
implementation of the enterprise risk management (“ERM”)
process ensures that critical risks are well understood and
effectively managed across all functions and units within the
PLDT Group. This is achieved through the operationalization
of the Enterprise Risk Management Framework (“ERMF”),
a standardized approach to risk identification, assessment,
and management. The ERMF is aligned to the ISO 31000 Risk
Management Standard, COSO’s Enterprise Risk Management
Framework, risk considerations found in the S&P Global
Corporate Sustainability Assessment, and GRI Standards.
The GRMD manages execution of the Three Lines of Defense
Model to ensure that all layers of the organization contribute
to managing enterprise risks through the implementation
of identified controls and mitigation strategies. The GRMD
facilitates the risk assessment exercise of the Management
Committee, implements activities to build an effective culture
of risk across the organization, and communicates and reports
significant risk exposures, including business risks, control
issues and risk mitigation plans to the Risk Committee.
PLDT 2022 ANNUAL REPORT
42
Chief Sustainability Officer. The Chief Sustainability Officer
(“CSO”) heads the Corporate Sustainability Office and assists
the President and Chief Executive Officer and the Board in
overseeing the Company’s overall sustainability strategy.
The CSO champions the enterprise-wide adoption of
sustainability as part of business strategy, operational
execution, and organizational culture, and works to ensure
that the Company aligns with global best practices for ESG
and doing business responsibly.
Chief Data Privacy Officer. The Chief Data Privacy Officer
(“CDPO”) heads the Privacy Office and is tasked to (i)
ensure the PLDT Group’s compliance with data privacy laws,
regulations, and best practices; (ii) provide direction to and
coordinate closely with PLDT Group business units to ensure
effective implementation of data privacy strategies including
policies, procedures, processes, and compliance review; and
(iii) collaborate with data protection authorities on behalf of
the PLDT Group.
Chief Information Security Officer. The Chief Information
Security Officer (“CISO”) heads the Cyber Security
Operations Group and is tasked to (i) improve, develop and
implement information and cybersecurity-related policies,
processes and technologies; (ii) ensure compliance with
applicable laws, regulations and standards; (iii) manage
cybercrime related cases filed for or against the PLDT Group;
(iv) develop and maintain partnerships with government and
other private entities in the campaign against cyber threats
and/or cybercrimes, foreign and domestic; and (v) ensure
alignment of all PLDT Group companies on information and
cybersecurity-related practices.
POLICIES & PRACTICES
PLDT follows the corporate governance and sustainability
standards prescribed by Philippine law or recommended
under rules and regulations of the PSEC and the PSE. As a
foreign private issuer with American Depositary Shares listed
and traded in the NYSE, PLDT also complies with governance
standards laid out in the relevant laws of the US and rules and
regulations of the US SEC and NYSE. Being an associated
company of First Pacific Company Ltd., a company listed in
the Hong Kong Stock Exchange, PLDT also benchmarks with
the governance standards of Hong Kong.
Corporate Governance Framework. PLDT’s corporate
governance framework is embodied in the integrated system
of governance structures, policies and processes set forth
in PLDT’s Articles of Incorporation, By-Laws, Manual on
Corporate Governance (“CG Manual”), Code of Business
Conduct and Ethics (“Code of Ethics”) and Corporate
Social Responsibility Statement. Our business principles are
embodied in implementing policies including the Supplier/
Contractor Relations Policy, Conflict of Interest Policy,
Expanded Whistleblowing Policy, Policy on Gift-Giving
Activities, Policy on Gifts, Entertainment and Sponsored
Travel, Material Related Party Transactions Policy, Guidelines
on Related Party Transactions, and Disclosure Rules, among
others. The Company promotes a culture of good corporate
governance through the implementation of these corporate
governance policies, including the CG Manual, Code of Ethics,
and related policies. PLDT’s key subsidiaries have adopted
corporate governance rules and policies similar in substance
and form to the foregoing corporate governance policies
and suited to their business environments and contexts
and appointed their respective corporate governance or
compliance officers.
All corporate governance policies of the Company are reviewed
at least once every two years to ensure that they are appropriate
for PLDT, benchmarked with global best practices, and compliant
with applicable law and regulations.
Manual on Corporate Governance (“CG Manual”).
Our CG Manual defines our corporate governance framework and
structure. Supplementary to PLDT’s Articles of Incorporation and
By-Laws, it assigns and delineates functions and responsibilities,
and entrusts powers, authorities, and resources for the execution
of such functions and responsibilities. The CG Manual provides,
among other matters, the composition and responsibilities of
the Board, the Company’s duties towards its shareholders in
general, its minority shareholders and its other stakeholders, and
the Company’s obligation to comply with applicable
disclosure rules.
A copy of the CG Manual can be found on the PLDT
website through the QR code:
Code of Business Conduct and Ethics (“Code of Ethics”).
Our Code of Ethics defines the Company’s corporate governance
principles of Integrity, Accountability, Transparency and Fairness,
which the Company shall observe in the conduct of its business.
It sets the governance and ethical standards that shall govern
and guide all business relationships of the Company, its directors,
officers, and employees.
A copy of the Code of Ethics is found at the PLDT
website through the QR code:
The implementation of the Code of Ethics is reinforced by
enabling policies such as the Supplier/Contractor Relations
Policy; Expanded Whistleblowing Policy; Gifts, Entertainment
and Sponsored Travel Policy; and Policy on Gift-Giving Activities
which, in conjunction with the Code of Ethics, embodies the
Company’s anti-corruption policy.
Conflict of Interest Policy (“COI Policy”). This policy enjoins
PLDT’s directors, employees, and consultants to promptly
disclose conflict of interest situations to relevant authorities.
If warranted, the person concerned should obtain appropriate
approvals and inhibit from any action, transaction or decision
involving an existing or potential conflict of interest. The
Company has established an online conflict of interest
disclosure system to facilitate the immediate disclosure of
conflicts of interest.
Material Related Party Transactions (“MRPT”) Policy
and Guidelines on the Proper Handling of Related Party
Transactions (“RPT Guidelines”). The Policy provides the
processes, controls, and safeguards for the proper handling
of related party transactions, including review, approval, and
disclosure, consistent with applicable laws and regulations. The
MRPT Policy applies to related party transactions that meet the
Materiality Threshold as therein defined and covers PLDT and
the PLDT Group. On the other hand, related party transactions
that are below the Materiality Threshold in the MRPT Policy are
covered by the RPT Guidelines. The RPT Guidelines provides the
process of review, approval, and disclosure of the Company’s
RPTs that are subject to review and approval by the designated
authorities. The review’s principal focus is whether an RPT is
on arm’s length terms and in the best interest of PLDT and its
shareholders as a whole, considering all relevant circumstances.
MRPTs are reviewed by the Audit Committee, which is composed
entirely of independent directors, and subject to approval
by the Board. The Head of Financial Controllership Sector, in
coordination with the Company’s Disclosure Committee, is
responsible for the disclosure of RPTs in the relevant financial
reports of the Company as required under Philippine Accounting
Standard 24, Related Party Disclosures, and other applicable
disclosure requirements.
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 43
Policy on Gifts, Entertainment and Sponsored Travel (“Gifts
Policy”). The Gifts Policy provides safeguards in the receipt
and acceptance of gifts given by third parties to ensure that
such gifts would not affect the objective, independent or
effective performance by directors, officers, and employees
of their duties to the Company. The Company has established
an online Gifts disclosure system to facilitate the immediate
disclosure of offers or receipt of Gifts from Third Parties.
Policy on Gift-Giving Activities (“Gift-Giving Policy”).
PLDT’s Gift-Giving Activities, which, together with the Code
of Ethics, embodies the Company’s anti-corruption policy,
prohibits direct and indirect bribery and corrupt practices in
compliance with applicable laws and regulations. The Gift-
Giving Policy provides guidance and procedural safeguards
with respect to gift-giving activities to government officials
and employees and to business partners, for or on behalf
of the Company. The Policy seeks to ensure that such
activities are compliant with applicable laws, respectful of the
intended recipient’s gifts policy, and consistent with PLDT’s
core values and policies. For the effective implementation
of the anti-corruption policy: (i) the Gift-Giving Policy
provides specific guidance, procedural safeguards and
internal controls pertaining to the offering or giving of gifts
which are prohibited or those which are regulated by law;
(ii) its implementation is reinforced by related policies such
as the Company’s Corporate Governance Guidelines for
Suppliers which prohibits bribery in connection with business
transactions involving the Company and its suppliers, as well
as Company policies on gifts, entertainment and sponsored
travel, whistleblowing, supplier relations and conflict of
interest; and (iii) it is carried out through appropriate
monitoring and preventive measures, which include
internal controls, training and communication programs,
whistleblowing facilities, and third party due diligence and
enforcement mechanisms.
Supplier/Contractor Relations Policy. This Policy establishes
clear rules for arm’s length transactions and fair treatment
of prospective and existing suppliers. The Policy specifically
adopts the processes of vendor accreditation and competitive
bidding as the general rule to ensure that contracts are
awarded only to qualified and duly accredited vendors who
offer the best value for money for PLDT’s requirements.
External parties, including suppliers and contractors, may
report concerns and violations to the Corporate Governance
Office at CGOHotline@pldt.com.ph.
Expanded Whistleblowing Policy (“EWB Policy”).
This Policy provides guidelines on handling employee
disclosures or complaints regarding (i) violations of corporate
governance rules, including the aforementioned CG policies;
(ii) questionable accounting and auditing matters; and
(iii) violations or offenses (other than those in (i) and
(ii) above) covered by the Company’s Human Resources
Manual. The EWB Policy protects whistleblowers and
witnesses from retaliation, and to ensure confidentiality and
fairness in the handling of a disclosure or complaint, PLDT
maintains Whistleblowing Helplines and other reporting
facilities, such as a dedicated electronic mailbox, special
contact number, post office box and facsimile transmission
system. In 2022, the Company deployed an additional online
reporting system to supplement the existing Whistleblowing
Helplines and facilitate the immediate disclosure of violations.
All employees and stakeholders who come forward in good
faith to report violations or any act that may be considered
as contrary to the Company’s values may likewise submit
a disclosure or complaint regarding such violation to the
Corporate Governance Office located at the 4/F Makati
General Office Building, De la Rosa corner Legaspi Streets,
Makati City or via electronic mail at CGOHotline@pldt.com.
ph. In Smart, disclosure or complaints may be reported via the
Whistleblowing web portal at https://smart.com.ph/About/
smart-whistleblower-report-form. Anonymous disclosures or
complaints are allowed and duly processed, subject to certain
conditions. In all processes and activities related to
a whistleblowing disclosure/complaint, utmost confidentiality
is observed to ensure the integrity of the process and
protect the parties, employees or officers who are allegedly
involved therein.
As of December 31, 2022, three (3) new whistleblowing
complaints were received by PLDT: (i) two (2) cases were
closed and resolved with adoption of remedial measures
and imposition of appropriate disciplinary actions, and
(ii) another case is still pending investigation. Four (4)
cases, including three (3) cases which were pending as
of December 31, 2021, were determined to fall under the
jurisdiction of line management and/or were outside the
scope of the EWB Policy, have been closed and appropriate
actions were made. On the other hand, SMART received
four (4) new whistleblowing complaints: (i) three (3) cases
were closed and resolved, and (ii) one (1) case was archived
due to insufficiency of evidence. No new whistleblowing
complaint or complaint on retaliation was received by PLDT
Global Corporation, ePLDT, Inc., Digital Telecommunications
Philippines, Inc. and Digital Mobile Philippines, Inc.
Blackout Periods/Restrictions on Trading of Shares.
PLDT’s Code of Ethics prohibits directors, officers, and
employees from dealing in the Company’s shares when in
possession of material non-public information about and
involving the Company and in any exceptional case, prior
notice to the Company should be made of any such dealing,
in accordance with the Company’s Policy on Blackout Period/
Restriction on Trading of Shares. To enable the timely filing
of the required disclosures to the SEC and the PSE, directors
and officers are enjoined to report to the Company their
dealings in the Company’s shares, within three trading days
from the date of the transaction, regardless of whether such
dealings were made during or outside the blackout periods.
The Blackout Periods in 2022 are presented in
the following table and are also available on the
website through the QR code:
RESTRICTED PERIODS ON BUYING AND/OR SELLING PLDT SHARES
2022 PLDT Results/Report
Results/Report Release Date
Blackout Period
Q1
May 5, 2022
April 20 – May 10, 2022
Q2
August 4, 2022
July 20 – August 8, 2022
Q3
November 3, 2022
October 19 – November 7, 2022
Full Year Unaudited Financial Results*
March 2, 2023
January 31 - March 6, 2023
Full Year Audited Financial Results
March 23, 2023
February 21 - March 27, 2023
*The Company released its FY2022 Audited Financial Results on March 23, 2023 instead of releasing its FY2022 Unaudited Financial Results on
March 2, 2023.
PLDT 2022 ANNUAL REPORT
44
NUMBER OF COMPANY SHARES1
Starting Balance2
Acquired
Disposed
Ending Balance3
A. Directors
1.
Manuel V. Pangilinan
300,911
11,000
311,911
2.
Manuel L. Argel, Jr.
1
1
3.
Helen Y. Dee
25,1204
25,120
4.
Ray C. Espinosa
39,743
3,000
42,743
5.
James L. Go
935,724
15,000
950,724
6.
Kazuyuki Kozu
1
1
7.
Bernido H. Liu
1
1
8.
Artemio V. Panganiban
7,771
7,771
9.
Alfredo S. Panlilio
17,505
13,000
30,505
10. Albert F. Del Rosario5
142,410
40,340
182,750
11.
Bernadine T. Siy
1,500
1,500
12. Naoki Wakai
1
1
13. Marife B. Zamora
60
60
B. Officers
1.
Anabelle L. Chua6
24,378
24,378
2.
Victorico P. Vargas
12,965
3,500
16,465
3.
Marilyn A. Victorio-Aquino28
21,640
5,755
27,395
4. Danny Y. Yu7
08
0
5.
Gina Marina P. Ordoñez
5,141
5,141
6. Mary Rose L. Dela Paz9
4,500
2,000
6,500
7.
Mario G. Tamayo9
6,575
6,575
8. Joseph Ian G. Gendrano10
897
897
9. Alejandro O. Caeg
9,315
9,315
10. Jeremiah M. De la Cruz11
08
0
11. Menardo G. Jimenez, Jr.
8,044
8,044
12. Leo I. Posadas
4,265
5,44012
9,705
13. Melissa V. Vergel de Dios
3,635
390
4,025
14. Gil Samson D. Garcia
33
33
15. Katrina L. Abelarde
1,881
500
1,381
Directors’ and Officers’ Shareholdings in the Company in Year 2022
The Company has clear policies regarding the trading by directors, officers and employees in the Company’s own
securities intended to align their interests with those of the shareholders and other stakeholders. Please see Restriction
on Trading of Shares through the QR code:
Trading in Company shares by directors and officers in the year 2022 are presented in the table below.
1 Includes directly and indirectly owned shares in the Company. Changes in shareholdings were disclosed in the Statements of Changes in
Beneficial Ownership of Securities filed with the Securities Exchange Commission and Philippine Stock Exchange, Inc. and posted on the
Company website at PLDT Investor Relations>Shareholder Information>Beneficial Ownership.
2 As at December 31, 2021
3 As at December 31, 2022
4 Includes 2,780 shares for the account of Michelle Y. Dee-Santos and 245 shares under the name of Helen Y. Dee, both under PCD Nominee
Corporation and 21,957 shares owned by Hydee Management Corporation. As chairperson and president of Hydee Management
Corporation, Ms. Dee may exercise the voting right in respect of the 21,957 shares of Hydee Management Corporation.
5 Separated effective April 18, 2023
6 Separated effective April 16, 2023
7 Appointed as PLDT Group Controller effective November 17, 2022, and served as such until May 3, 2023; appointed as Chief Financial
Officer and Chief Risk Management Officer effective May 4, 2023.
8 As of date of appointment
9 Separated effective April 14, 2023
10 Promoted to Senior Vice President effective August 10, 2022
11 Appointment as Senior Vice President effective April 1, 2022 was confirmed by the Board of Directors in its meeting held on April 19, 2022
12 Includes 140 shares for the account of Jose Antonio G. Posadas under PCD Nominee Corporation
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 45
NUMBER OF COMPANY SHARES1
Starting Balance2
Acquired
Disposed
Ending Balance3
16. Benedict Patrick V. Alcoseba
1,304
150
1,454
17. Ma. Carina J. Amparo13
0
014
18. Marco Alejandro T. Borlongan
3,053
3,053
19. Mary Julie C. Carceller
0
0
20. Bernard H. Castro
0
0
21. Joseph Michael Vincent G. Co
0
0
22. Joan A. De Venecia-Fabul
244
244
23. Victor Emmanuel S. Genuino II
0
3,000
3,000
24. John John R. Gonzales
1,128
1,128
25. Ma. Criselda B. Guhit
2,694
2,694
26. Leah Camilla R. Besa-Jimenez
3,480
3,480
27. Gary Manuel Y. Kho15
08
0
28. Princesita P. Katigbak16
1,475
1,475
29. Albert Mitchell L. Locsin
8
8
30. Dale M. Ramos17
2,660
2,66014
31. Angel T. Redoble
1,105
1,105
32. Aileen D. Regio18
202
20214
33. Luis S. Reñon29
55
55
34. Jeanine R. Rubin
0
0
35. Bernadette C. Salinas
669
669
36. Roderick S. Santiago19
08
0
37. Patrick S. Tang
0
0
38. Victor Y. Tria
2,167
2,167
39. Jude Michael H. Turcuato
0
0
40. Catherine Y. Yang
1,900
1,900
41. John Henri C. Yanez
968
968
42. Ma. Magdalene A. Tan
0
0
43. Abner Tito L. Alberto
92
92
44. Minerva M. Agas
1,625
1,625
45. Cecille M. Alzona
266
266
46. Elizabeth S. Andojar20
1,090
1,09014
47. Roy Victor E. Añonuevo
551
551
48. Maria Cecilia A. Arevalo
633
633
49. Tito Rodolfo B. Aquino, Jr.
890
890
50. Mitchie M. Arcaina
250
250
51. Jerameel A. Azurin
1,304
1,304
52. Francis A. Bautista
767
767
53. Rafael M. Bejar21
1,275
1,27514
54. Dianne M. Blanco
20
20
55. Wilson S. Bobier6
612
612
13 Separated effective September 30, 2022
14 As of date of separation
15 Appointment as First Vice President effective October 1, 2021 was confirmed by the Board of Directors in its meeting held on March 22, 2022
16 Separated effective January 1, 2023
17 Separated effective July 10, 2022
18 Separated effective November 1, 2022
19 Appointment as First Vice President effective January 16, 2022 was confirmed by the Board of Directors in its meeting held on March 22, 2022
20 Separated effective June 1, 2022
21 Separated effective September 1, 2022
PLDT 2022 ANNUAL REPORT
46
NUMBER OF COMPANY SHARES1
Starting Balance2
Acquired
Disposed
Ending Balance3
56. Luis Gregorio D. Casas
321
230
170
381
57. Benjamin Jose C. Causon, Jr.
297
297
58. Melvin Jeffrey C. Chan
0
0
59. Ma. Monica M. Consing
298
298
60. Branden B. Dean
0
0
61. Ramil C. Enriquez
553
553
62. Aniceto M. Franco III
756
756
63. Gene S. de Guzman
1,132
1,132
64. Rai Antonio A. De Jesus22
708
25
95
65. Leonard A. Gonzales
0
0
66. Silverio S. Ibay, Jr.
1,295
80
1,375
67. Gary F. Ignacio
1,108
1,108
68. Marven S. Jardiel16
1,444
100
1,544
69. Alexander S. Kibanoff6
1,444
1,444
70. Javier C. Lagdameo
1,875
1,875
71. Ser John S. Layug
565
565
72. John Henry S. Lebumfacil
110
15023
73. Armando Dodjie T. Lim
532
532
74. Czar Christopher S. Lopez
1,970
1,970
75. Paolo Jose C. Lopez
1,500
1,500
76. Ma. Carmela F. Luque
1,635
1,635
77. Mark David P. Martinez
116
116
78. Loreevi Gail O. Mercado
1,312
1,312
79. Evert Chris R. Miranda24
08
0
80. Oliver Carlos G. Odulio
1,484
1,484
81. Audrey Lyn S. Oliva25
08
0
82. Charles Louis L. Orcena
25
25
83. Serviliano L. Padiz, Jr.27
499
31
530
84. Raymond A. Racho27
576
576
85. Anna Karina V. Rodriguez26
08
0
86. Marielle M. Rubio22
08
0
87. Genaro C. Sanchez
5,723
5,723
88. Maria Christina C. Semira
969
969
89. Ma. Merceditas T. Siapuatco20
1,295
1,29514
90. Arvin L. Siena
1,488
1,488
91. Carla Elena A. Tabuena
1,362
1,362
92. Jecyn Aimee C. Teng
52
52
93. Milan M. Topacio
457
457
94. Ma. Delia V. Villarino
0
0
95. Radames Vittorio B. Zalameda
932
550
382
22 Appointment as Vice President effective August 1, 2021 was confirmed by the Board of Directors in its meeting held on March 22, 2022
23 SEC Form 23-B submitted to the SEC dated June 14, 2022
24 Appointment as Vice President effective September 16, 2021 was confirmed by the Board of Directors in its meeting held on
March 22, 2022
25 Appointment as Vice President effective December 1, 2021 was confirmed by the Board of Directors in its meeting held on
March 22, 2022
26 Appointment as Vice President effective October 16, 2021 was confirmed by the Board of Directors in its meeting held on
March 22, 2022
27 Separated effective May 1, 2023
28 Elected as director effective May 4, 2023
29 Promoted to Senior Vice President effective May 4, 2023
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 47
Protection of Technology Resources and Information
The PLDT Group has a Corporate Information Security Policy
that is applicable to PLDT, Smart and DMPI, which contains
policy statements and standards relating to the proper
use of social media, data security, as well as the protection
of information assets and the proper use of technology
resources.
PLDT’s Cyber Security Operations Group (“CSOG”), headed
by the Chief Information Security Officer (“CISO”), creates,
implements, and operationalizes the Group’s Information
Security Management Systems framework and supports the
review and update of its security policy and its supporting
standards.
The Group’s cyber security strategy continues to focus
on protecting the Company’s critical infrastructure and
information assets. Using its own operational framework
consisting of Predictive, Preventive, Detective and Responsive
capabilities, the approach supports the establishment of a
cyber-resilient and trusted telecommunications and digital
infrastructure. The Group’s end-to-end operations were
especially customized taking into careful consideration the
threat landscape, our network infrastructure, and the Group’s
products and services. The Group’s investment in protection
technologies integrate these Predictive, Preventive, Detective
and Responsive capabilities as follows: the Predictive
framework applies to the pre-attack stage, where cyber
threats are proactively identified long before they reach the
PLDT and Smart environments, while the Preventive and
Detective framework applies during an attack, in order to
minimize exposure; and the Responsive framework applies to
the post-attack stage, to accelerate response and minimize
impact to operational, legal, financial, reputational and
compliance risks. The processes and tools being implemented
to be able to perform these functions are reflected in the
diagram below.
The Group likewise has in place a multiple layer of defense
approach designed to reduce exposure to emerging threats,
provide visibility into the threat landscape, slow down
attackers’ progress, and detect attacks before they can do
serious damage.
Anchored on the belief that employees are an integral part
of our strategy, the PLDT Group recognizes that it is critical
to shape employee behavior and provide motivation for
risk-based decisions in order to have the right mindset and
attitude to choose the right behavior. To this end, a robust,
no-nonsense Cyber security Awareness Program has become
one of the pillars of our employee engagement strategy
through the conduct of various campaigns, weekly awareness
infographics, and regular phishing simulations to address the
human aspect of cyber security.
Together with various stakeholders, the “Cyber D-Day: Cyber
Crisis Simulation Exercise” was also held in 2022 with PLDT
Group participants. The exercise was aimed at measuring the
following: (i) organization’s capability to detect, respond and
recover from a cyber-attack; (ii) sufficiency of policies and
protocols; and (iii) accountability in terms of effectiveness
of lines of communication and coordination, including the
active role of vendors in the incident response value chain.
The activity was successful in aligning the respective actions
of CSOG, IT and Network in the Incident Response process to
recover from a ransomware attack.
In line with the PLDT Group’s Child Safeguarding Policy for
the online protection of children, a Child Protection Platform
solution was developed as part of investment in cyber
security. Embedded into the Company’s 24/7 cyber security
operations, the solution allows CSOG to continuously detect,
respond, and prevent access to online child sexual abuse and
exploitation materials (“CSAEM”) within its network, both on
the domain and content level. Additionally, users who access
restricted websites or URLs are redirected to the NTC Landing
Page. This solution utilizes strategic alliances with intelligence
units and dedicated organizations through various means
such as the integration of the Internet Watch Foundation
Automation Tool and the application of information from
the Canadian Centre for Child Protection for the blocking of
CSAEM. As of December 2022, PLDT and Smart recorded a
total of over 586,000 blocked URLs linked to CSAEM.
The PLDT Group continues to strive to protect the delivery of
digital services that the organization needs to be successful,
agile, and resilient. Beyond protection, the Group aims to
continue its pursuit of cyber security operational excellence,
mature and sustain its competencies and serve as a frontline
contributor to the growth of business.
CYBER SECURITY OPERATIONAL FRAMEWORK
DURING
ATTACK
PRE-
ATTACK
POST
ATTACK
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it
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PREDICTIVE
• Periodic VAPT (Static and Dynamic)
• Cyber Threat intelligence
• Threat hunting (external)
RESPONSIVE
• Identification of infected devices
• Isolation of compromised devices
• Incident response and reporting
• Investigation
PREVENTIVE
• Server hardening
• Secure DNS
• NAC
• IAM, PAM
• Security patching
• Source code review
• Enterprise risk management
DETECTIVE
• Perimeter security devices
• Network security
• Endpoint security
• Web app security
• Threat hunting (internal)
PLDT 2022 ANNUAL REPORT
48
Personal Data Protection
The Privacy Office was closely involved in preparations for
the implementation of the SIM Registration Act in 2022. Aside
from providing inputs in the discussions for the drafting of the
implementing rules and regulations, the Privacy Office also
worked to instill Privacy by Design as the Company drew up
processes for both the manual and online registration of SIM
cards to ensure that the privacy of customers is protected.
The Company likewise continued its partnership with
Government regulatory agencies and other telecommunications
companies in fighting SMS scams and spam. Taking its cue
from Government regulators, the Company continued to block
identified URLs and SMS sent from its networks. It also formed
partnerships with banks and financial institutions to combat
frauds perpetrated on the public by unscrupulous persons.
In response to the National Privacy Commission’s issuance of
its Guidelines on Administrative Fines, the Company updated
its privacy-related standards to ensure that privacy risks
identified from data processing activities, processes, and
systems are addressed by (i) adhering to the privacy principles
of transparency, legitimate purpose, and proportionality,
(ii) ensuring the existence of procedures for data subjects’
exercise of rights, and (iii) implementing the appropriate
organizational, physical, and technical security measures.
Data Privacy Risk Impact Guidelines were also developed.
The Guidelines provide the scales and criteria for estimating
the impact of privacy risks and the likelihood that they will
happen. In line with these initiatives, the template for the
Data Privacy Risk Treatment Plan was also updated.
There were likewise significant developments in the Company’s
Data Privacy Management Assurance Platform (DPMAP),
a multi-year project to systematize and automate privacy
operations. In 2022, the capability to scan PLDT’s mobile apps
for cookies and trackers as part of its notice and consent
process was completed. The automation of the workflow for
incident reporting, investigation, and assessment was also
completed. This project helps to ensure that deadlines for all
stages of incident reporting, based on internal and statutory
requirements, are met.
PLDT’s Privacy learning and awareness campaign for 2022
was anchored on the main theme, “Stand Up for Privacy.” The
campaign kicked off with the “Take the Lead” online forum to
celebrate Global Data Privacy Day on January 28. The event,
which featured privacy and design experts, was attended by
approximately 1,000 executives of PLDT and Smart. The year
2022 also saw the launching of the Data Privacy 101 Learning
Series consisting of short courses that employees can take
on demand. As part of this campaign, the course, “The Basics
of Privacy” became available to all employees. The rest of the
courses will be published in 2023.
TRAINING & EDUCATION
The Company provides orientation and continuous training for
its Board, Management, and employees. Updates on business
and governance policies and requirements, and new laws
applicable or relevant to the Company and its business are
presented in Board meetings or furnished to directors. For
the continuous training of its directors and officers, the Board,
acting through its Governance, Nomination and Sustainability
Committee, conducts an Annual In-House Corporate
Governance Enhancement Session (“ACGES”) that provides
an opportunity for leadership to engage in discussion with
international and local experts on relevant topics, including
emerging trends and technologies, new laws, and best business
practices.
For employees, the People Group (“PG”) in collaboration
with various support teams in PLDT and Smart, conducts
orientation and periodic training and refresher sessions
on Company policies, skills building, and wellness and
development. For new officers, the Corporate Governance
Office in collaboration with PG, conducts orientation on the
Company’s governance structure, corporate governance and
related policies, and Management’s role and responsibilities.
At the end of such orientation, copies of all corporate
governance policies, including the CG Manual and Code of
Ethics, are furnished to new officers. Corporate governance
orientation sessions for officers and employees include a
discussion of the Gift-Giving Policy that prohibits bribery
and corruption in compliance with applicable laws. In 2022,
an online corporate governance refresher course was made
available to PLDT and Smart employees, and online refresher
courses were likewise conducted for newly promoted PLDT
management employees and Groups in PLDT and Smart with
specific training needs. Employee training is supplemented
by appropriate communication materials and feedback
mechanisms.
To ensure that lines of communication between employees
and Management are available and accessible, Whistleblowing
Helplines and advisories were issued, an online knowledge
hub of all Corporate Governance Policies was made
available, and guidance on conflict-of-interest disclosure,
whistleblowing, and Gift-Giving and Gift-Receiving Policies
were cascaded. In Smart, as part of continuing culture-
building initiatives, the #CGSerye, #CGQandA, and #CGStory
were regularly issued to provide guidance on the application
of corporate governance policies, while the #CGVACS
initiative provided inspirational weekly quotes for employees,
with express permission from “The Conscience Code” author,
scholar, and Wharton School professor, Mr. G. Richard Shell.
MONITORING & EVALUATION
PLDT monitors and evaluates the effectiveness of its
corporate governance through the following, among other
initiatives: (i) an annual performance self-assessment
conducted by the Board and the Board Committees, (ii) the
periodic review of the effectiveness of the implementation
of the Company’s CG policies, (iii) the annual compliance
evaluation conducted by Management, and other tools
employed to monitor the implementation of the CG policies.
In 2022, an annual self-assessment was conducted by the
Board to evaluate its 2021 performance as the Board, as well
as each Board Committee, and the individual directors. The
process, which also includes an evaluation of the performance
of the CEO and Management, enables the Board to identify
strengths and areas for improvement and to elicit individual
director’s feedback and views on the Company’s strategy,
performance, and future direction. The members of the Board
and the Board Committees accomplish their respective self-
assessment questionnaires for this purpose.
PLDT monitored and evaluated its compliance with CG rules
through a cross-functional evaluation system whereby the
heads of the various business and support groups/units
conduct an evaluation of their group/unit’s CG compliance.
The periodic process uses an evaluation questionnaire
consisting of the governance standards set forth in the CG
Code for PLCs which are applicable and relevant to their
respective functions. The results of the evaluation conducted
by the heads are consolidated as input to the Company’s
Integrated Annual Corporate Governance Report (“I-ACGR”)
submitted to the PSEC and PSE. In compliance with the
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 49
respective memorandum circulars of the PSEC and the
PSE, PLDT filed its I-ACGR on May 30, 2022. PLDT likewise
confirmed its compliance with its CG Manual which contains
relevant provisions of the CG Code for PLCs and certain
corporate governance standards under the US Securities
Exchange Act and NYSE Listed Company Manual.
PLDT has incorporated CG standards in the performance
evaluation of employees and has included violations of CG
rules as a cause for disqualification from incentives and
rewards in its Policy on Employee Qualification for Incentives
and Rewards. In the fourth quarter of 2022, PLDT and Smart
conducted an employee ethics survey to gain insights into
the effectiveness of its corporate governance programs
and initiatives. The results of the survey, participated in by
99.45% of PLDT employees6 and 99.11% of Smart employees6,
were presented to the GNSC in 2023. Valuable information
is additionally obtained and analysed from the results of and
feedback from our education activities, reports from business
partners, customer complaints, reported violations and other
sources of relevant information.
STAKEHOLDER ENGAGEMENT
In fulfilling our commitments to our stakeholders, we are
guided by our Code of Ethics and the Company’s General
Practice on Stakeholder Engagement (“GP on Stakeholder
Engagement”). The GP on Stakeholder Engagement aims to
promote a culture of good governance by the observance
of the Company’s core principles of integrity, accountability,
fairness and transparency in dealings with its stakeholders.
Together with our Code of Ethics, the GP on Stakeholder
Engagement is the articulation of our belief in empowering
Filipinos across sectors through meaningful connections that
can help improve their overall well-being. We believe that as
we seek to enhance value for our shareholders, we have a
responsibility to provide quality products and services for our
customers, develop the talents and skills of our employees,
work with our suppliers and business partners in an ethical
and mutually beneficial manner, and enable our communities
for nation-building.
Investors/Shareholders. PLDT fosters the values of
transparency and fairness in its dealings with investors and
shareholders. It respects, promotes and upholds shareholders’
rights such as, the right to vote, preemptive right, the right
to inspect corporate books and records, including minutes
of Board meetings and stock registries, subject to certain
conditions; right to timely receive relevant information,
whether in printed or digital form; right to dividends, and
appraisal right.
The Board promotes transparency and fairness in the conduct
of the annual and special stockholders’ meetings of the
Company and explores and implements steps to expand
opportunities for stockholders to participate in annual
and special stockholders’ meetings, whether virtually or in
person, and for the latter, reduce excessive or unnecessary
costs to attend. Stockholders are encouraged to personally
attend such meetings, raise questions, and exercise their
voting rights. Online voting and participation by remote
communication was made available to all stockholders
from 2020, consistent with the Revised Corporation Code
and related SEC issuances and in keeping with Covid-19
precautions.
Within a reasonable period before the annual and/or special
stockholders’ meeting, stockholders are apprised of their
right to appoint a proxy in case they are unable to personally
attend such meeting and give their voting instructions in the
proxy form provided. Relevant meeting materials such as the
Notice, Agenda, Information Statement and Annual Report
are made available to the stockholders in printed or digital
form and through the Company’s website to enable them to
make a sound and informed judgment on all matters tabled
for their consideration or approval. In 2022, pursuant to SEC
guidelines, the electronic copy of the Information Statement,
2021 Management Report, 2021 Annual Report in SEC Form
17-A, including the Sustainability Report, and Quarterly Report
for the first quarter 2022 in SEC Form 17-Q were posted on
the Company’s website and the PSE Edge, and the Notice
and Agenda were published in two (2) newspapers of general
circulation (in print and online format).
The Company held its Annual Stockholders’ Meeting (“ASM”) in
virtual format on June 14, 2022, with holders of 84.03% of the
Company’s total outstanding shares of Common and Voting
Preferred Stocks as of the Record Date April 15, 2022, present
via remote communication or represented by proxies in the
meeting. The recorded webcast of the ASM was posted on the
Company’s website for two consecutive weeks.
To view the Minutes of the 2022 PLDT ASM, please
access the QR code:
The Board ensures the disclosure and filing of reports with
the SEC, PSE, Philippine Dealing & Exchange Corp. (“PDEx”)
and, as applicable, the US SEC and NYSE and posting on
the Company’s website, immediately after or the day after
the Board, annual and/or special stockholders’ meeting, of
all significant actions taken in the said meeting and, where
appropriate, the votes obtained for each of such actions.
The Board ensures that material information and transactions
that could potentially affect the market price of the Company’s
shares are timely disclosed and filed with the SEC, PSE,
PDEx, and as applicable, with the US SEC and NYSE. In this
regard, information on, among other matters, earnings results,
acquisition or disposal of significant assets, related party
transactions, Board membership changes, shareholdings
of directors and officers and any changes thereto, and
remuneration of directors and officers are promptly and
accurately disclosed.
Disclosures/organizational announcements for the
year 2022 may be accessed on the Company’s
website through the QR code:
PLDT regularly conducts quarterly analysts’ and investors’
briefings to discuss financial and operating results, podcasts
of which are posted in the Investor Relations section of the
PLDT website. In addition and as warranted, the Company
conducts special briefings to discuss other important Company
developments. Our Investor Relations Center has regular
engagements and meetings with fund managers and investors,
which include access to PLDT Management. Shareholders who
wish to raise matters or concerns relating to the business of
the Company, their investments and rights may elevate such
matters to the Corporate Secretary, the Investor Relations
Officer, concerned units of PLDT’s Management or the Board.
The Company’s dividend policy provides for a regular dividend
payout rate of 60% of Core Earnings Per Share as regular
dividends. The dividend policy considers, among others:
(i) the levels of capital expenditures to build a robust, superior
network to support customer demand and the continued
growth of data traffic; (ii) plans to invest in new adjacent
businesses that will complement the current business and
provide future sources of profits and dividends; and
6As at December 31, 2022
PLDT 2022 ANNUAL REPORT
50
(iii) management of cash and gearing levels. In the event that
no investment opportunities arise, the Company may consider
the option of returning additional cash to shareholders in the
form of special dividends or share buybacks.
PLDT was able to pay out approximately 60% of
its core earnings for the year 2022. Information
on PLDT’s 2022 Dividend Declarations is available
through the QR code:
Customers. PLDT serves a broad range of customers from
individuals, residential, micro, small and medium enterprise
(SME) and large enterprise, including the public sector. We
continuously endeavor to provide best-in-class experiences
to fulfill our customers’ needs and expectations on responsive
products and services, quality of service, pricing, application,
service provisioning process, repair and restoration service,
and billing and payment services. We engage with our
customers through various traditional and digital touchpoints
and empower them to resolve their concerns through
self-help channels with the end view of knowing and
understanding their product and service needs, promptly
addressing their concerns, and identifying areas where we
could further enhance customer experience.
In 2022, the following projects, among others, were initiated
by the Company:
CX Center of Excellence. The Company has implemented
a comprehensive initiative, the Net Promoter Score (NPS)
closed loop process, with the aim of enhancing customer
experience. Through this program, customer feedback is
actively gathered and utilized to empower cross-functional
units within the Company to make informed decisions on
customer experience based on customer insights, ultimately
leading to the development of effective solutions.
Customer Experience Improvements. The Company reviewed
all customer touchpoints for improvement opportunities,
leading to a transformation in processes, workflows, and
culture. As an example, to enhance first contact resolution,
we equipped customer service agents with the tools and
guidelines needed for effective rebate processing. This
allowed faster resolutions and an improved overall customer
experience. The Company also provided real-time customer
updates via SMS and social media, including causes and
resolution timelines, to keep customers informed of the
progress of their concerns.
Customer Empowerment Through Inclusive Self-Service
Solutions. The Company has made significant strides in
offering digital customer solutions that meet customers’
changing needs. Our focus on digital transformation has
resulted in streamlined operations, driven growth, and
enabled self-service automation, a critical component of
modern customer experience. Through our digital support
portal, the automation of various customer requests, and
enhanced payment channels, PLDT enables customers to
receive assistance without having to talk to a customer
service representative; and provides opportunities to choose
the solution that is best suited to their needs. Customers who
opt to engage the Company through traditional customer
channels continue to do so through the CX Hotline: 171 and
the Company’s social media pages.
Customer Education Programs. To highlight our improved
digital customer touchpoints, the Company refined
its customer education efforts using a multi-channel
communication approach. Customers received comprehensive
information on self-care solutions, digital payment centers,
internet speed optimization, and billing information through
a variety of channels including SMS, email, Interactive Voice
Response System (“IVRS”), social media, and other digital
channels. This strategy ensured that our customers were
informed and equipped with the tools needed to maximize their
experience of Company products and services.
Customer support on the SIM Registration Act. In support of
the implementation of the SIM Registration Act (R.A.11934),
customers were provided with a self-care portal and frontline
support via hotline, social media, and stores and service centers
for easy SIM registration.
Employees. PLDT respects the dignity, rights, and interests of
its employees, among which are the right to self- organization,
safe and healthy working conditions, professional development,
and community-building social activities. The value of
employees to the business is underscored by the inclusion of
people and culture transformation among the shared Company
goals. Identifying, developing, and retaining talent is a core
responsibility and accountability of every leader. Anchored
on the foundational premise that the Company’s treatment
of its employees will influence how employees, in turn, deliver
service to customers, PLDT embeds employee experience at
the core of all people initiatives, programs, and processes. Three
principles guide the employee experience design: leader-led,
employee-owned, and digital-enabled. The vision for digital
market leadership is hinged on a high-performing culture, and
PLDT continuously engages employees to aspire for this goal by
aligning groups and individuals to the Company’s shared goals
and ensuring that the Company’s performance management
system is performance driven and coaching centered. A digital
platform is in place that enables a standard performance
management system across PLDT and Smart. Supporting
the objective of shaping a high-performing culture is a Total
Rewards Program that is merit-based and addresses both
short-term and long-term transformation goals. Compensation
and incentives are determined on the bases of performance and
accomplishment. Two major rewards programs are in place: the
Short-term Incentive Plan (“STIP”) and the Long-term Incentive
Plan (“TIP”).
To ensure that we enable the best integrated telco strategy,
PLDT relentlessly pursues its agenda on succession
management. An urgent groundwork activity is working with
our Leaders on present requirements while creating a talent
pipeline and ecosystem for the next horizon of products and
services, including the development and implementation
of capability building initiatives, series of targeted hiring in
local and global markets and the revival of the Management
Associate Program.
A digital environment requires a strong learning culture.
This is supported by PLDT’s corporate university that utilizes
all learning modalities for the best reach and an internal career
opportunity marketplace to enable talent mobility for all
its employees.
PLDT organizes engagement programs that prioritize the
well-being of employees and strengthen the quality of
work relationships. These allow employees to engage in
a broad range of character-developing and relationship
building activities through CSR, sports, special interest
groups, and family-oriented programs. Formal channels for
employee feedback are made available through engagement
surveys conducted at regular intervals to give employees
the opportunity to share their perspectives about relevant
Company matters. Digital and social platforms are likewise
optimized for employee crowdsourcing and internal
communication, while Management-led digital dialogues
provide opportunity for employees across various parts of the
country to directly interact and communicate their suggestions
and recommendations to top management.
CORPORATE GOVERNANCE REPORT
PLDT 2022 ANNUAL REPORT 51
Regulators. PLDT operates within relevant legislative and
regulatory frameworks and complies with the requirements
thereunder which are applicable to it. We participate in
public policy forums, conferences and hearings conducted
by government and regulatory agencies on policies and
regulations that have implications and affect the operations
of the telecommunications industry. PLDT also participates
in legislative hearings relative to initiatives and proposed
legislation in the fields of ICT, corporate governance,
cybersecurity, digital transformation, and labor-related
matters. Our “Internet for All” advocacy and investments in
network infrastructure and technologies to provide the widest
coverage and superior quality of service at affordable prices
are aligned with and support the Government’s objectives set
out in the Public Telecommunications Policy Act.
Suppliers. PLDT maintains mutually beneficial relationships
with like principled suppliers that uphold PLDT’s core values
of fairness, accountability, integrity, and transparency in their
own businesses. Suppliers undergo an accreditation process
before they engage in business with PLDT. Among the
criteria for accreditation are financial and technical capability,
compliance with applicable laws, including those pertaining
to industrial relations, environment, health and safety,
intellectual property rights, cyber security, data privacy and
sustainability. The Company’s purchases, as a rule, are made
based on competitive bidding among accredited and
qualified suppliers.
Creditors. In accordance with our Code of Ethics, we protect
the rights of our creditors by publicly disclosing all material
information, such as earnings results and risk exposures
relating to loan covenants. Our disclosure controls and
procedures also include periodic reports to our creditors
such as our latest certified financial statements, no default
certification, and certification on compliance with financial
ratio limits. PLDT’s credit has been rated at investment
grade by two major international credit rating agencies
as of yearend 2022.
Communities. PLDT strives to engage local communities
where it operates through corporate citizenship programs
that support the business while contributing to nation-
building and the achievement of the United Nations
Sustainable Development Goals (UN SDGs). We uphold
a community engagement strategy that is inclusive,
collaborative, ethical, and sustainable. Leveraging on core
businesses and infrastructure, we act as enabler in the
promotion of digital inclusion in communities in the areas of
digital wellness, disaster resilience, education, and livelihood.
ADVOCACY & NETWORKING
PLDT supports the advocacy for better governance and
ethics in business as manifested in the Company’s policy
against corruption and bribery set forth in its Code of Ethics
and Policy on Gift-Giving Activities and reinforced in specific
policies such as the Gifts Policy, Supplier/Contractor Relations
Policy, Corporate Governance Guidelines for Suppliers, which
prohibit bribery or acts which may be construed as bribery
involving third parties in business dealings with the Company.
These policies are implemented through anti-corruption
programs and measures such as internal controls, training
and communication, whistleblowing system, third party due
diligence, and support for and participation in multi-sectoral
anti-corruption initiatives to eliminate graft and corruption.
To demonstrate its commitment to the United Nations
Global Compact (“UNGC”), PLDT and Smart are participant
signatories to the Statement from Business Leaders for
Renewed Global Cooperation. Participants actively engage
with the UNGC at the global level to integrate into their
companies’ operations, the organization’s Ten Principles on
human rights, labor, environment, and anti-corruption.
In 2021, PLDT and Smart formalized membership in the
UK-based Internet Watch Foundation (“IWF”). As the first
companies in the Philippines to join the global coalition of
more than 150 organizations in the fight against online sexual
abuse and exploitation of children (“OSAEC”), membership in
the coalition is an expression of the Group’s commitment to
curtail OSAEC and comply with the Anti-Child Pornography
Law (Republic Act No. 9775).
As IWF members, PLDT and Smart have access to a wide
database of OSAEC materials which are integrated into
the Group’s own child protection platform, a step forward
in the Group’s continuing efforts to protect children and
customers and making cyberspace safe by blocking access to
exploitative content on the internet.
In 2022, PLDT and Smart, the only telecommunications
companies that have been invited to join the National
Economic Development Authority (“NEDA”)-led Stakeholders’
Chamber on Sustainable Development Goals (“SDGs”),
pledged their commitment to the 2030 Agenda for
Sustainable Development at the inaugural meeting organized
by the NEDA.
PLDT continues to work with institutions and organizations
engaged in programs and advocacy efforts in the field
of corporate governance, compliance, and business
ethics. As a sponsoring partner member of the Ethics and
Compliance Initiative (“ECI”), the PLDT Group has access to
ECI’s vast online library on governance and related topics
and opportunities to attend and participate in discussion
groups and training sessions, as well as interact with other
governance and ethics professionals around the world. In
the process, the Group is able to benchmark its governance
practices against those of leading companies. Locally, PLDT
is a premium member of the Integrity Initiative, Inc. and PLDT
and Smart are members of the Good Governance Advocates
and Practitioners of the Philippines (“GGAPP”). PLDT also
participates in the activities of the Institute of Corporate
Directors (“ICD”) and its sister institute in the public sector,
the Institute for Solidarity in Asia (“ISA”).
The Company aims to continuously
improve its governance standards and
practices, including the strengthening
of internal controls and benchmarking of
its Code of Business Conduct and Ethics,
in line with the Recommendations of the
CG Code for Publicly-Listed Companies,
the mandate of the Revised Corporation
Code, the results of feedback from the
Company’s monitoring and evaluation
system, and by aligning with recognized
best practices.
PLDT 2022 ANNUAL REPORT
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PLDT 2022 ANNUAL REPORT
52
PLDT 2022 ANNUAL REPORT 53
“By harnessing the power of data, PLDT can empower
its people to make informed decisions, while enhancing
shareholder value through a more strategic and
proactive approach to risk management.”
ENTERPRISE RISK MANAGEMENT
Creating More Value
for Business
and Stakeholders
The PLDT Group’s commitment to the proactive management of
existing and emerging risks is reinforced by the Group Enterprise
Risk Management Department (GRMD). The GRMD, under the
leadership of the Chief Risk Management Officer (CRMO), develops
and manages a comprehensive integrated risk management
program that is implemented across all levels of the organization,
with the goal of managing the Group’s risks to an acceptable level,
so as to enhance opportunities, reduce threats, and thus create
even more value for the business and its stakeholders.
PLDT 2022 ANNUAL REPORT 53
PLDT 2022 ANNUAL REPORT
54
I
n 2022 the GRMD focused on generating risk data across
all levels of the organization to enable risk-based decision
making. The GRMD conducted engagements with both
the Privacy Office and Cyber Security Operations Group
to assist in the transition of their risk practice to operate as
a Second Line of Defense (2LoD). Efforts included an
alignment of data constructs for risk assessment and an
enhancement of risk assessment guidelines specific to
oversight areas. The team also strengthened ties with
Internal Audit through Project Ripple, a joint effort aimed
at synergizing governance, risks and controls across the
company’s Risk and Audit practices.
Concurrently, GRMD began work on building digitization
capabilities for its risk operations through the ServiceNow
Governance, Risk & Compliance (GRC) Platform. The team
also applied enhancements to risk data generation from the
top-down, working closely with Management to sharpen its
risk assessment reports for the company’s Top Risks.
The PLDT Group Risk Management Philosophy Statement
The PLDT Group adopts a risk philosophy that recognizes
risks as integral to its business thereby committing itself to
managing these risks with the aim of attaining its business
objectives, thus enhancing shareholder value.
The PLDT Group operates in a complex and dynamic business
environment which gives rise to a variety of risks that can be
both threat and opportunity. Recognizing that these risks are
an integral part of its business, the PLDT Group is committed
to managing its overall risk exposure in a systematic way
and in such a manner that supports its strategic decision-
making process. Accordingly, the PLDT Group employs
a comprehensive, integrated risk management program,
effected across all levels of the organization, with the goal
of identifying, analyzing and managing the Group’s risks to
an acceptable level, so as to enhance opportunities, reduce
threats, and thus sustain competitive advantage. The PLDT
Group believes that an effective risk management program
will contribute to the attainment of objectives by PLDT and
its subsidiaries, thus creating value for the business and
its stakeholders.
The Enterprise Risk Management Framework and Process
The GRMD promulgates and encourages the adoption of
a standard risk evaluation process focused on the need to
properly identify, analyze, evaluate, treat and monitor risks
that may affect the achievement of business objectives.
The ERM process implemented is based on the International
Standard of ISO 31000. The implementation of the ERM
process ensures that high-priority risks are well understood
and effectively managed across all functions and units within
the PLDT Group.
C
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ISO 31000: RISK MANAGEMENT PROCESS
ESTABLISH THE CONTEXT
IDENTIFY RISKS
ANALYZE RISKS
EVALUATE RISKS
TREAT RISKS
PLDT 2022 ANNUAL REPORT
54
ENTERPRISE RISK MANAGEMENT
PLDT 2022 ANNUAL REPORT 55
To assist in the execution of the ERM process, the GRMD has adopted The Committee of Sponsoring Organizations of the
Treadway Commission’s (COSO) Three Lines of Defense Model. This model safeguards contribution of all organizational levels
to managing enterprise risks by ensuring controls are in place, and crafting appropriate mitigation strategies
Risk Committee
The Risk Committee assists the PLDT Board in overseeing
Management’s adoption and implementation of a system
for identifying, assessing, monitoring and managing key risk
areas. The committee reviews Management’s reports on the
Company’s major risk exposures as well as Management’s
plans and actions to minimize, control or manage the impact
of such risks.
The GRMD reports to the PLDT Risk Committee on a quarterly
basis and to the PLDT Board of Directors on a semi-annual
basis on developments with regard to the Group’s risk
management activities.
SENIOR MANAGEMENT
GOVERNING BODY, BOARD, RISK COMMITTEE & AUDIT COMMITTEE
1ST LINE OF DEFENSE
2ND LINE OF DEFENSE
3RD LINE OF DEFENSE
External Audit
Regulator
Financial Control
Risk Management
Internal Audit
Inspection
Security
Quality
Compliance
Management
Controls
Internal Control
Measures
THREE LINES OF DEFENSE MODEL
PLDT Group Top Risks
The GRMD, under the leadership of the Chief Risk Management
Officer, promulgates and encourages the adoption of a
standard risk evaluation process focused on the need to
properly identify, analyze, evaluate, treat and monitor risks
that may affect the achievement of business objectives. A risk
assessment exercise was undertaken by the Top Management
Team to identify and prioritize the most important risks
affecting the PLDT Group for 2022. The top risks for 2022,
listed in no particular order of criticality, are: (i) prolonged
pandemic; (ii) shifting political and economic conditions;
(iii) complexities of competing in an evolving industry;
(iv) impediments to transformation initiatives; (v) risks on the
resolution of customer experience issues; (vi) supply chain
constraints, (vii) challenges in future-proofing the workplace,
(viii) continued cybersecurity attacks and privacy breaches,
(ix) physical impacts of climate change, and (x) failure to
strengthen the company’s sustainability practice.
Expanding our view of risk beyond
compliance can help the organization
anticipate and plan for challenges, seize
opportunities, and weather any crisis.
PLDT 2022 ANNUAL REPORT
56
Manuel V. Pangilinan I 76, Filipino
He has been a director of PLDT since November 24, 1998. He was
appointed as Chairman of the Board of Directors of PLDT after
serving as its President and Chief Executive Officer from November
1998 to February 2004. Since January 1, 2016, he also held the
position of President and Chief Executive Officer of PLDT until June
7, 2021, and served as President and Chief Executive Officer of Smart
Communications, Inc. (“Smart”) until August 7, 2019. Mr. Pangilinan
is the Chairman of the Governance, Nomination and Sustainability,
Executive Compensation, Technology Strategy, and Data Privacy
and Information Security Committees of the Board of Directors of
PLDT. He also serves as Chairman and President of Metro Pacific
Investments Corporation (“MPIC”), Chairman of Manila Electric
Company (“Meralco”), PXP Energy Corporation and Philex Mining
Corporation, and Vice Chairman of Roxas Holdings, Inc., all of which
are PSE-listed companies, and of several subsidiaries or affiliates
of PLDT or MPIC, including, among others, Smart, Digitel Mobile
Philippines, Inc. (“DMPI”), Digital Telecommunications Phils, (“Digitel”)
PLDT Communications & Energy Ventures, Inc., ePLDT, Inc., Beacon
Electric Assets Holdings Inc., Philex Petroleum Corporation, Manila
North Tollways Corporation, Maynilad Water Services Corporation,
Landco Pacific Corporation, Metro Pacific Hospital Holdings, Inc.,
Medical Doctors Incorporated (Makati Medical Center), Colinas
Verdes Corporation (Cardinal Santos Medical Center), Davao Doctors
Incorporated, Riverside Medical Center Incorporated, Our Lady of
Lourdes Hospital and Asian Hospital Incorporated. He is also the
Chairman of MediaQuest Holdings Inc., TV5 Network, Inc. and PLDT-
Smart Foundation.
Mr. Pangilinan founded First Pacific Company Limited (“First Pacific”),
a Hongkong Stock Exchange-listed company, in 1981 and serves as its
Executive Chairman, Managing Director and Chief Executive Officer.
Within the First Pacific Group, he also holds the position of President
Commissioner of P.T. Indofood Sukses Makmur Tbk, the largest food
company in Indonesia.
Outside the First Pacific Group, Mr. Pangilinan is the Chairman of the
Board of Trustees of San Beda College and Amateur Boxing Association
of the Philippines, a governing body of amateur boxers in the country,
and the Chairman Emeritus of the Samahang Basketbol ng Pilipinas. He is
also the Chairman of Philippine Business for Social Progress, the largest
private sector social action organization made up of the country’s largest
corporations and a Co-Chairman of the Philippine Disaster Resilience
Foundation, Inc., a non-stock, non-profit foundation established to
formulate and implement a reconstruction strategy to rehabilitate and
rebuild areas devastated by floods and other calamities, and of the US-
Philippine Business Society, a non-profit society which seeks to broaden
the relationship between the United States and the Philippines in the areas
of trade, investment, education, foreign and security policies and culture.
Mr. Pangilinan has received numerous prestigious awards including the
Business Icon Gold Award for having greatly contributed to the
Philippine economy through achievements in business and society by Biz
News Asia magazine (2008), Global Filipino Executive of the Year for 2010
by Asia CEO Awards, and Philippines Best CEO for 2012 by Finance Asia.
Mr. Pangilinan graduated cum laude from the Ateneo de Manila University,
with a Bachelor of Arts Degree in Economics. He received his Master’s
Degree in Business Administration from Wharton School of Finance &
Commerce at the University of Pennsylvania, where he was a Procter &
Gamble Fellow. He was conferred a Doctor of Humanities Degree (Honoris
Causa) by the San Beda College (2002), Xavier University (2007), Holy
Angel University (2009) and Far Eastern University (2010).
Manuel V. Pangilinan
Manuel L. Argel, Jr.
Helen Y. Dee
Marife B. Zamora
Naoki Wakai
Bernadine T. Siy
Artemio V. Panganiban
Board of
Directors
Bernido H. Liu
Kazuyuki Kozu
James L. Go
Ray C. Espinosa
Alfredo S. Panlilio
Albert F. Del Rosario
PLDT 2022 ANNUAL REPORT 57
Retired Judge Manuel L. Argel, Jr. I 73, Filipino
He has been a director of PLDT since January 28, 2020. He is a
member of the Social Security Commission (“SSC”), the Governing
Board of the Social Security System (“SSS”) and shares the
responsibility for the governance of the SSS in terms of providing
policy directions, monitoring, and overseeing management actions.
He is a member of the Risk Management and Investment and Audit
Committees of the SSC. He also performs quasi-judicial functions
through decisions rendered on cases involving SSS coverage, benefits,
contributions, and penalties.
He started his law career as an associate of private full-service
law firms until he formed his own law firm in 1981. While in private
practice, Judge Argel was accredited in 1995 as a Voluntary Labor
Arbitrator of the National Conciliation and Mediation Board. He also
served as President of the Integrated Bar of the Philippines (Ilocos
Chapter) from 1993 to 1995, Provincial Secretary of the National
Citizens’ Movement for Free Elections, Chairman of the Ilocos Sur
Local Amnesty Board, and member of the People’s Assistance
Development Action Center, Inc. His stint in the government
started when he was elected as a member of the Sangguniang
Bayan of Vigan City in 1980. In 2008, he received the Legislator’s
award given by the City Government of Vigan in recognition of his
accomplishments and contributions as former legislator of Vigan
City. In 1995, he was appointed as Regional Trial Court (RTC) Judge
of Laoag City, and, served as Executive Judge from 2005 to 2007
and Presidential Assistant for Region 1 in the Philippine Judges
Association. He retired from the Judiciary in 2015. His record of public
service as a judge was marked by a very high degree of competence,
integrity, dedication, and independence.
Judge Argel is a distinguished alumnus of San Beda University,
where he obtained both his Bachelor of Arts in Philosophy in
1969 and his Bachelor of Laws in 1974. He continuously strives to
enhance his knowledge and skills through participation in various
trainings and seminars, such as the Institute of Corporate Directors’
Corporate Governance Orientation Program for GOCCs and
Professional Directors Program, the ACGES seminars on “Lessons
from a Pandemic” and “How to Courageously Lead During a Crisis,”
a seminar on Islamic Finance, and PLDT ACGES events on topics
ranging from “Customer Obsession” to the “Metaverse and its
impact on business and human interaction”. He also ensures that he
is up to date on corporate policies aligning with the latest Revised
Corporation Code of the Philippines.
Helen Y. Dee I 79, Filipino
She has been a director of PLDT since June 18, 1986. She is the
Chairperson of EEI Corporation, House of Investments, Petro Energy
Resources Corporation, Rizal Commercial Banking Corporation, all
of which are PSE-listed companies. She is the Chairperson, Vice
Chairperson or a director of several companies engaged in banking,
insurance and real property businesses. Ms. Dee received her Master’s
Degree in Business Administration from De La Salle University.
Atty. Ray C. Espinosa I 67, Filipino
He has been a director of PLDT since November 24, 1998, and
is a member of the Technology Strategy and Data Privacy and
Information Security Committees of the Board of Directors of PLDT.
He was Senior Advisor to the President and CEO of PLDT from
January 28, 2019 until June 8, 2021. He was PLDT’s Chief Corporate
Services Officer from December 2016 until January 28, 2019, and
previously served as President and CEO of ePLDT Inc. and its
subsidiaries from July 2000 until April 2010 and as President and
CEO of TV5 Network Inc. and Cignal TV Inc. from December 2009
until May 2013. In June 2013, he joined First Pacific Company Limited
as Associate Director.
Atty. Espinosa is also the President and CEO of Meralco. He is a
director of Roxas Holdings Inc., an independent director of Lepanto
Consolidated Mining Company and chairman of its Audit Committee,
and an independent director of Maybank Philippixnes Inc. and
chairman of its Risk Management Committee. He is the chairman
of the Philstar Group of Companies and BusinessWorld Publication
Corporation. He is a trustee of the PLDT-Smart Foundation Inc. and
the Beneficial Trust Fund of PLDT.
He has a Master of Laws Degree from the University of Michigan
School of Law and a Bachelor of Laws Degree from the Ateneo de
Manila University School of Law, and is a member of the Integrated
Bar of the Philippines. He was a partner at SyCip Salazar Hernandez
& Gatmaitan from 1982 to 2000, a foreign associate at Covington and
Burling (Washington, D.C.) from 1987 to 1988, and a law lecturer at
the Ateneo de Manila University School of Law from 1983 to 1985 and
1989. He placed first in the 1982 Philippine Bar Examinations.
James L. Go I 84, Filipino
He has been a director of PLDT since November 3, 2011. He is a
member of the Technology Strategy and Risk Committees and
Advisor of the Audit Committee of the Board of Directors of PLDT.
He is the Chairman of JG Summit Holdings, Inc. and Cebu Air, Inc.,
the Chairman and Chief Executive Officer of Oriental Petroleum
and Minerals Corporation, and the Chairman Emeritus of Universal
Robina Corporation, Robinsons Land Corporation, JG Summit
Petrochemical Corporation, and JG Summit Olefins Corporation.
He is the Vice Chairman of Robinsons Retail Holdings, Inc. and a
Director of the Manila Electric Company and Meralco Powergen
Corporation. He is also the President and Trustee of the Gokongwei
Brothers Foundation, Inc. Mr. Go obtained his Bachelor of Science
Degree and Master of Science Degree in Chemical Engineering
from Massachusetts Institute of Technology, USA.
Kazuyuki Kozu I 50, Japanese
He has been a director of PLDT since July 6, 2021. He was the
Director of Core Network Development Department of NTT
DOCOMO, INC., Tokyo, Japan. Prior to that, he served as Senior
Manager of Packet Network System Development Department of
DOCOMO Technology, Inc., Tokyo, Japan from September 2016
to June 2020, Director of System Management Department of
mmbi Inc., Tokyo, Japan from September 2013 to August 2016,
and Senior Manager of Networking Research Group of DOCOMO
Communications Laboratories, Munich, Germany from April 2010
to August 2013. He started his career in NTT DOCOMO INC., Tokyo,
Japan, as Engineer from April 1997 to March 2002 then Manager from
April 2002 to March 2010 of Core Network Development Department.
He graduated with a Bachelor’s Degree in Electrical Engineering
and Computer Science from the Yokohama National University,
Kanagawa, Japan and obtained his Master’s Degree in Electrical
Engineering and Computer Science from the same university.
Bernido H. Liu I 60, Filipino
He has been an independent director of PLDT since September
28, 2015 and is an independent member of the Audit, Governance,
Nomination and Sustainability, Executive Compensation, Risk, and
Data Privacy and Information Security Committees of the Board
of Directors of PLDT. Concurrently, he is the Chairman and Chief
Executive Officer of GOLDEN ABC, Incorporated. (“GABC”), a fashion
retail company which designs and sells its own clothing, personal
care and accessory lines marketed and retailed under a dynamic
portfolio of well-differentiated proprietary brands, namely Penshoppe,
OXGN, ForMe, Memo, Regatta and BOCU. He is also the Group
Chairman of LH Paragon Incorporated, a business holdings company
which has under its management GABC and other companies in
various industries, namely, Matimco Incorporated, Oakridge Realty
Development Corporation, Basic Graphics Incorporated, and
Greentree Food Solutions, Inc.
Mr. Liu and GABC under his leadership have been recognized by
different award-giving bodies. Awards include the Agora Award
for Outstanding Achievement in Entrepreneurship from the
Philippine Marketing Association, Ten Outstanding Young Men for
Entrepreneurship, Global Retailer of the Year from the Philippine
Retailers Association and the Department of Trade and Industry, and
the ASEAN Business Award of Excellence for Priority Integration
Sector in Retail. Mr. Liu graduated with a Bachelor of Science Degree
in Architecture from the University of San Carlos, and completed the
Executive Education Owner/President Management Program of the
Harvard Business School.
PLDT 2022 ANNUAL REPORT
58
BOARD OF DIRECTORS
Retired Chief Justice Artemio V. Panganiban I 86,
Filipino
He has been an independent director of PLDT since April 23, 2013
and is serving as an independent member of the Audit, Governance,
Nomination and Sustainability, and Executive Compensation
Committees, and Chairman of the Risk Committee, of the Board of
Directors of PLDT. He was appointed as Lead Independent Director
effective March 21, 2019. He served as an independent member of
the Advisory Board and an independent non-voting member of the
Governance and Nomination Committee of the Board of Directors of
PLDT from June 9, 2009 to May 6, 2013. Currently, he is also an
independent director of Meralco, Petron Corporation, Metro Pacific
Investments Corporation, GMA Network, GMA Holdings, JG Summit
Holdings, Inc., Asian Terminals, Inc. and RL Commercial REIT, Inc., and
a non-executive director of Jollibee Foods Corporation, all of which
are PSE-listed companies, as well as Senior Adviser of Metropolitan
Bank and Trust Company, a member of the Advisory Council of
the Bank of the Philippine Islands and an adviser of Double Dragon
Properties Corp. and Merry Mart Consumer Corp. He is also Chairman
of the Board of Trustees of the Foundation for Liberty and Prosperity,
and of the Board of Advisers of Metrobank Foundation, Inc., a trustee
of Tan Yan Kee Foundation and Claudio Teehankee Foundation,
President of the Manila Metropolitan Cathedral-Basilica Foundation,
a member of the Advisory Board of World Bank (Philippines),
Chairman-Emeritus of the Philippine Dispute Resolution Center, Inc.,
Chairman of the Philippine National Committee of the Asean Law
Association, Designated Chairperson of the four Philippine members
of the Permanent Court of Arbitration in The Hague, Netherlands,
and a column writer of the Philippine Daily Inquirer.
Hon. Panganiban served the Supreme Court of the Philippines for
more than 11 years, first as Associate Justice (October 10, 1995 to
December 20, 2005) and later, as Chief Justice (December 21, 2005 to
December 6, 2006) during which he sat concurrently as Chairperson
of the Presidential Electoral Tribunal, Judicial and Bar Council and
Philippine Judicial Academy. He has received over 250 awards in
recognition of his role as jurist, practicing lawyer, professor, civic
leader, Catholic lay worker and business entrepreneur, including “The
Renaissance Jurist of the 21st Century” given by the Supreme Court
on the occasion of his retirement from the Court. Hon. Panganiban
graduated cum laude from Far Eastern University with a Bachelor of
Laws Degree in 1960, and was conferred a Doctor of Laws Degree
(Honoris Causa) by the University of Iloilo (1997), Far Eastern
University (2002), University of Cebu (2006), Angeles University
(2006) and Bulacan State University (2006). He was co-founder and
past president of the National Union of Students of the Philippines.
Alfredo S. Panlilio I 60, Filipino
He has been the Director, President and Chief Executive Officer
of PLDT, Inc. since June 8, 2021 and wireless subsidiary Smart
Communications, Inc. since August 8, 2019. He is also an Advisor of
the Data Privacy and Information Security Committee, Advisor of the
Governance, Nomination and Sustainability Committee, and a
Member of the Technology Strategy Committee of the PLDT
Board of Directors.
Within the PLDT Group, Panlilio holds leadership positions as the
Chairman, President and CEO of IP Converge Data Services, Inc.,
and Mabuhay Investments Corporation, Chairman and President
of ABM Global Solutions, Inc., Curo Teknika, Inc., ePDS, Inc., IPC
Rack It Data Center, Inc., VITRO Inc., and ACeS Philippines Cellular
Satellite Corporation, and Smart Broadband, Inc., Chairman of
ePLDT, Inc., MayaBank, Bonifacio Communications Corporation,
Telesat, Inc., PLDT Clark Telecom, Inc., PLDT Subic Telecom, Inc.,
PLDT-Maratel, Inc., and PLDT-Philcom, Inc, Director, President and
CEO of Digitel Telecommunications, Inc., Digitel Mobile Philippines,
Inc. (DMPI), Director and President of I-Contacts Corporation,
Director of international business unit PLDT Global, President and
CEO of Talas Data Intelligence, Inc., President of MVP Rewards and
Loyalty Solutions, Inc. (MRSI), Airborne Access Corporation, PLDT
Communications and Energy Ventures, Inc., and Primeworld Digital
Systems, Inc., and Trustee of social outreach arm PLDT-Smart
Foundation (PSF) and Asian Carriers Conference Inc.
With PLDT as a longtime supporter of the Philippines’ digital
transformation, Panlilio is among the founding members under the
Digital Infrastructure pillar of the Private Sector Advisory Council
(PSAC), formed in July 2022.
During Panlilio’s previous tenure in PLDT before returning as its Chief
Revenue Officer on July 1, 2019, he served as Senior Vice President
from May 2001 to December 2010 and was the President of PLDT
Global from June 2004 to December 2010.
Prior to returning to PLDT Group, Panlilio was the Senior Vice
President and Head of Customer Retail Services and Corporate
Communications at Manila Electric Company (Meralco) from
September 10, 2010 to June 30, 2019. Within the Meralco Group,
Panlilio served as Chairman of Radius Telecoms, Inc., e-Meralco
Ventures Inc., Paragon Vertical Corporation, Powersource First
Bulacan Solar, Inc. and Pure Meridian Hydropower Corporation.
He was also a Vice Chairman of Aclara Meters Philippines, Inc., and
Director of CIS Bayad Center Inc., Corporate Information Solutions,
Inc., Customer Frontline Solutions, Inc., Meralco Energy, Inc., MRAIL
Inc., Meralco Industrial Engineering Services Corporation, Comstech
Integration Alliance, Inc. and MSpectrum, Inc. Panlilio was also a
trustee of One Meralco Foundation, Inc. (OMFI) and Meralco Power
Academy, and Associate Board Member of Semiconductor and
Electronics Industries in the Philippines, Inc. (SEIPI).
A veteran executive who started his career with IBM Philippines and
rose through the ranks, Panlilio also serves as Director of Cignal
TV, Inc., Asean Telecom Holdings Sdn. Bhd. (ATH), Chikka Holdings
Limited, Connectivity Unlimited Resources Enterprises, Inc., Wifun,
Inc., and Vega Group of Companies; Independent Director of
CEMEX Holdings Philippines, Inc.; Board Member of Makati Central
Estate Association, Inc. (MACEA); and Trustee of Kapampangan
Development Foundation and Philpop Musicfest Foundation, Inc.
An advocate of the value of sports in maintaining a strong republic,
Panlilio sits as President of the MVP Sports Foundation, Second
Vice President of FIBA Asia Central Board, First Vice President of
the Philippine Olympic Committee and heads the FIBA Basketball
World Cup 2023 local organizing committee. He is also the President
of Samahang Basketbol ng Pilipinas (SBP), the country’s governing
basketball federation, and is the Treasurer of the National Golf
Association of the Philippines (NGAP) and Manila Golf Country
Club, Inc.
Bearing testament to his achievements, Panlilio was named CEO
of the Year by London-based award-giving body Total Telecom at
the 2022 Asia Communication Awards. He was previously honored
as CEO Excel Awardee of the International Association of Business
Communicators Philippines in 2013, was one of seven finalists in
the Rising Star (individual) category of the PLATTS Global Energy
Awards 2015 held in New York, and has received multiple local
and international awards for customer management and business
communication excellence throughout his 38-year career.
A Member of the Management Association of the Philippines (MAP),
Panlilio holds a Bachelor of Science Degree in Business Administration
(Computer Information Systems) from San Francisco State University.
He obtained his Master in Business Administration at J. L. Kellogg
School of Management of Northwestern University and the Hongkong
University of Science and Technology.
Former Ambassador Albert F. Del Rosario I 83,1
Filipino
He served as a director of PLDT from July 11, 2016 until his death on
April 18, 2023.2 He was also a member of the Technology Strategy
Committee of the Board of Directors of PLDT. He was the former
Secretary of Foreign Affairs of the Philippines from February 2011
to March 2016 and also served as Philippine Ambassador to the
United States of America from October 2001 to August 2006. Prior
to entering public service, he was on the Board of Directors of
various firms. His business career for over four decades has spanned
the insurance, banking, real estate, shipping, telecommunications,
advertising, consumer products, retail, pharmaceutical and
food industries.
1Ambassador Albert F. Del Rosario passed away on April 18, 2023.
2The Board elected Atty. Marilyn A. Victorio-Aquino as a director of the Company to hold office effective May 8, 2023, and for the unexpired term of
her predecessor in office, the late Ambassador Albert F. del Rosario.
PLDT 2022 ANNUAL REPORT 59
Ambassador del Rosario was the Chairman of Philippine Stratbase
Consultancy, Inc., Gotuaco del Rosario Insurance Brokers, Inc.,
Stratbase ADR Institute, Inc., Citizens for Promoting Human Rights,
Inc. Cignal TV, Inc., and was a director of Metro Pacific Investments
Corporation and Rockwell Land Corporation (both PSE-listed
companies), Indra Philippines, Inc., Metro Pacific Tollways Corporation,
Two Rivers Pacific Holdings Corporation, Metro Pacific Resources,
Inc., Metro Pacific Holdings, Inc., Metro Pacific Asset Holdings, Inc.,
Philippine Telecommunications Investment Corporation, Enterprise
Investments Holdings, Inc. Mediaquest Holdings, Inc., TV5 Network,
Inc., Studio5, Inc., Businessworld Publishing Corp., Satventures,
Inc., Hastings Holdings, Inc., Nation Broadcasting Corporation, Med
Vision Resources, Inc., Telemedia Business, Ventures, Inc., Upbeam
Investments, Inc., BTF Holdings, Inc. and Asia Insurance (Phil.) Corp.
He was also a trustee of the Carlos P. Romulo Foundation for Peace
& Development and Philippine Cancer Society, Inc. and a member of
Asia Society Global Council and an Advisory Board of CSIS Southeast
Asia Program.
Ambassador del Rosario received numerous awards and recognition
for his valuable contributions to the Philippines and abroad. In
November 2022, he was conferred the Highest Honor from His
Majesty Emperor of Japan, the Order of Sikatuna, Rank of Datu, by
H.E. President Gloria Macapagal-Arroyo for his outstanding efforts in
promoting foreign relations for the Philippines in September 2004,
and the Order of Lakandula with a Rank of Grand Cross (Bayani)
for acting as Co-Chair of the 2015 APEC in December 2015. He was
a recipient of the EDSA II Presidential Heroes Award in recognition
of his work in fostering Philippine democracy in 2001 and the
Philippine Army Award from H.E. President Corazon Aquino for his
accomplishments as Chairman of the Makati Foundation for Education
in 1991. He was awarded as 2013 Professional Chair for Public Service
and Governance by Ateneo School of Government and the Metrobank
Foundation, 2014 Management Man of the Year by Management
Association of the Philippines, 2016 Outstanding Government National
Official by Volunteers Against Crime and Corruption (VACC), 2016
Asia CEO Award as Life Contributor, and Manuel L. Quezon Gawad
Parangal as Quezon City’s Most Outstanding Citizens for 2016. He
was elevated to the Xavier Hall of Fame in New York City in 2006.
He received the AIM Washington Sycip Distinguished Management
Leadership Award in 2011, Doctor of Laws (Honoris Causa) for
“principled commitment to democracy, integrity and the rule of
law both at home and around the globe” conferred by the College
of Mount Saint Vincent, New York City in September 2015, Rotary
Club Makati West’s First “Albert del Rosario Award” (Tungo sa
Makatarungang Pamumuhay) in August 2016, Outstanding Leadership
in Diplomatic Service by Miriam College Department of International
Studies and Philippine Tatler’s Diamond Award both in November
2016. On September 25, 2018, he was conferred the Honorary Degree
of Doctor for Humanities by the Ateneo de Manila University for
staunchly defending the sovereignty and territorial integrity of the
country, raising the standards of economic diplomacy and proactively
ensuring the safety and security of overseas Filipinos everywhere. He
was moreover the holder of a first Dan Black Belt Degree in Korean
Hwa Rang Do. Ambassador del Rosario graduated from New York
University with a Bachelor of Science Degree in Economics.
Bernadine T. Siy I 64, Filipino
She is a director of Epicurean Partners Exchange Inc. (EPEI), and
of Fil-Pacific Apparel Corporation (FPAC), both leading players
in the food service and apparel industry. She previously served as
President and Chief Executive Officer of EPEI Inc. from 1994 to 2011,
and President and Chief Executive Officer of FPAC from 1987 to 1997
and again, from 2004 to 2013. She has been a trustee in the board
of Ateneo de Manila University since 2014, and currently holds the
position of board chair. She is currently an independent director
of Cebu Air, Inc. having been appointed in March 2021. She is also
a trustee in the board of the Foundation for Economic Freedom,
an economic policy advocacy organization and a member of the
Management Association of the Philippines. She was a Consultant
to the Board of Directors of the Development Bank of the Philippines
from November 2012 to June 2014. She obtained her Bachelor of
Arts Degree in Economics, Magna Cum Laude from Ateneo de Manila
University and a Master’s Degree in Management from J.L. Kellogg
Graduate School of Management of Northwestern University in
Chicago, Illinois, USA.
Naoki Wakai I 57, Japanese
He has been a director of PLDT since August 26, 2021. He is the
Senior Vice President in charge of Global Business in Business
Solution Division of NTT Communications Corporation (NTT Com).
He joined Nippon Telegraph and Telephone Company (NTT) in 1989
and has been engaged in global telecoms and IT business for the past
25 years. Mr. Wakai was involved in the establishment of subsidiaries
and branch offices in China, Taiwan and Korea, and played a major
role in the construction of international submarine cable systems.
After serving as Senior Manager of IP Transit Business at NTT Com
Asia (Hong Kong) and Director of International Business at Verio
(USA), he moved to NTT Com in Japan and became Head of Server
Hosting Team in 2006, Head of Carrier Relations in 2008 and Vice
President of Global IP Network in 2009. Mr Wakai moved to London
as Deputy Managing Director and COO of NTT Europe Limited in
2012. In 2017, he moved to Singapore to serve as President and CEO
of NTT Singapore Pte. Limited. He graduated with a Bachelor’s
Degree in Political Science from Keio University in Tokyo, Japan, and
holds a Master’s Degree in International Relations from International
University in Niigata, Japan.
Marife B. Zamora I 70, Filipino
She has been a director of PLDT since November 14, 2016.
Is Chairman of the Board of Willis Towers Watson Insurance and
Reinsurance Brokers, Inc., and a member of the Board of Trustees
of the Asian Institute of Management. She is also an Independent
Board Member of Pru Life Insurance Corporation of U.K. She is
the President of the UP Sigma Delta Phi Alumnae Association and
co-founded the Filipina CEO Circle. She was Chairman of Convergys
Philippines; Managing Director for Asia Pacific, Europe, Middle East,
Africa for Convergys Corporation, and served as the first Country
Manager of Convergys Philippines leading its growth as the country’s
largest private employer. Prior to this, Ms. Zamora served as Managing
Director of Headstrong Phils. She was also with IBM Philippines where
she held a number of sales, marketing and management positions
during her 18-year tenure with the company. She is the 3rd woman
President and the 68th President of the Management Association
of the Philippines. Ms. Zamora received her Bachelor of Arts Degree
(major in Mathematics & History) from the College of the Holy Spirit
and studied in the University of the Philippines and the University
of Pennsylvania.
Christopher H. Young
Orlando B. Vea
Benny S. Santoso
Advisory
Board
PLDT 2022 ANNUAL REPORT
60
Executive Officers
Alfredo S. Panlilio
Victorico P. Vargas
Menardo G. Jimenez, Jr.
Gina Marina P. Ordoñez
Jeremiah M. de la Cruz
Gil Samson D. Garcia
Luis S. Reñon
Emmanuel Ramon C. Lorenzana
Alejandro O. Caeg
Danny Y. Yu
Joseph Ian G. Gendrano
Leo I. Posadas
Melissa V. Vergel De Dios
Marilyn A. Victorio-Aquino
Victorico P. Vargas I 71, Filipino
Senior Talent Culture and Cultivation – Office of the Chairman,
PLDT Leadership Transition Officer, is an Associate Director of
First Pacific since January 2016, overseeing First Pacific Group
businesses operating in the Philippines and its region, with particular
focus on leading the Business Transformation of PLDT. Prior thereto,
Mr. Vargas was the President and Chief Executive Officer of Maynilad
Water Services, Inc. since August 2010. He joined PLDT in 2000
as its Human Resources Group Head and through his stay at PLDT
got involved in managing the PLDT Business Transformation Office,
Asset Protection and Management Group, and the PLDT International
Carrier Business. He has worked in senior roles at Union Carbide,
Pepsi Cola, Colgate Palmolive and Citibank, NA (both in Manila and in
Southeast Asia). He is a director of Meralco, Smart Communications
Inc., MGen Global Business Power, Maya Bank, Inc., PLDT Global Inc.,
PLDT Subic Telecom, Inc., PLDT Clark Telecom, Inc., Beacon Electric
Asset Holdings, Inc. and Beacon PowerGen Holdings, Inc., President
and Member of the Board of Trustees of the First Pacific Leadership
Academy, Trustee of the MVP Sports Foundation, PLDT-Smart
Foundation, Inc. and Ideaspace Foundation and President of the
PhilPop Music Fest Foundation. Mr. Vargas was educated at Ateneo
de Manila and University of Santo Tomas with a Bachelor of Science
Degree in Psychology.
Marilyn A. Victorio-Aquino I 67, Filipino
Atty. Marilyn A. Victorio-Aquino was elected as a Director of the
Company effective May 8, 2023. She is a Senior Vice President of the
Company and has been its Chief Legal Counsel, Head of Legal and
Regulatory Affairs, and Corporate Secretary since December 1, 2018,
July 1, 2021, and January 25, 2022, respectively. She joined First Pacific
Company Limited (“First Pacific”) in 2012 as Assistant Director and
has been appointed as Associate Director since 2018. She currently
holds various positions in Philippine subsidiaries and affiliates of First
Pacific and Metro Pacific Investments Corporation (an affiliate of First
Pacific), including her role as President and Director of First Coconut
Manufacturing Inc., and her directorships in Philex Mining Corporation,
PXP Energy Corporation, Lepanto Consolidated Mining Company
(which are PSE-listed companies), Philex Gold Philippines, Inc., and
Silangan Mindanao Mining Company, Inc.
Prior to joining First Pacific, Atty. Victorio-Aquino retired as a Senior
Partner at SyCip Salazar Hernandez and Gatmaitan Law Offices
(SyCipLaw). She joined SyCipLaw in 1980 and was admitted as
Partner in 1989. Her practice areas were mining and natural resources,
investments, mergers and acquisitions, construction and infrastructure,
and project finance and securities, where she acted as legal counsel
and represented local and foreign clients in respect of some of the
largest projects and transactions in the Philippines.
PLDT 2022 ANNUAL REPORT 61
Atty. Victorio-Aquino graduated cum laude (class salutatorian) from
the University of the Philippines with a Bachelor of Laws Degree in
1980, placed second in the Philippine Bar Examinations, and was
admitted to the Philippine Bar in 1981. She obtained her Bachelor of
Arts degree from the University of Santo Tomas. She is a member
of the International Pacific Bar Association, Women Lawyers Circle,
Federacion International de Abogadas, Philippine Bar Association, and
Integrated Bar of the Philippines.
Danny Y. Yu I 61, Filipino
He is a Senior Vice President and has been appointed as the
Chief Financial Officer and Chief Risk Management Officer of
the Company effective May 4, 2023. Prior to his appointment, he
served as the PLDT Group Controller from November 17, 2022 until
May 3, 2023. He was the Senior Vice President and Chief Financial
Officer, Chief Governance Officer and Chief Risk Officer of Philex
Mining Corporation from September 2013 to August 2019, Chief
Finance Officer of Digital Telecommunications Philippines, Inc. and
Digitel Mobile Philippines, Inc. (Sun Cellular) from November 2011
to July 2013, Chief Financial Officer of ePLDT, Inc. from November
2010 to December 2011, Chief Financial Officer of PLDT Global
Corporation from June 2004 to November 2010, Chief Financial
Officer of Mabuhay Satellite Philippines Corporation and Aces Satellite
Philippines Corporation from March 1999 to May 2004, and Vice
President for Corporate Development of Fort Bonifacio Development
Corporation from March 1997 to March 1999. Mr. Yu graduated Magna
Cum Laude from the University of San Carlos with a Bachelor of
Science in Commerce, Major in Accounting and holds a Master in
Management from the Asian Institute of Management. He is also a
Certified Public Accountant. Mr. Yu was named as the ING-FINEX CFO
of the Year in 2016.
Gina Marina P. Ordoñez I 61, Filipino
She is the Chief People Officer for PLDT and Smart Communications
where she drives the effective implementation of people strategies,
employee services, HR business partnering and centers of excellence.
She ensures a people-centric and quality-driven environment across
the company through optimized organizational structures, policies,
processes and analytics. She participated in the development and
execution of the PLDT Group Talent Management strategy, ensuring
alignment with present and future business requirements. She
joined the PLDT Group in 2016 under the Business Transformation
Office (BTO) and later assumed the Smart People Group Head role
before moving back to BTO in 2017 to head Process and Quality
Management.
Under the MVP Group of Companies, Ms. Ordoñez was appointed
Vice President for Service Operations and Quality Management
at Makati Medical Center. She also served as Head of Customer
Experience for Consumer Banking in Citi where she held various
leadership positions for 16 years and where she was certified Six
Sigma Black Belt professional. Ms. Ordoñez is a registered Corporate
Coach and Quality Management Consultant who is certified to run
coaching clinics. She completed her professional training from Coach
U and is currently a member of the International Coach Federation.
She has over 20 years of experience in People, Process and Quality
Management leadership roles.
Joseph Ian G. Gendrano I 46, Filipino
He is the Chief Technology Officer and Head of Information
Technology. He has been in PLDT’s service since May 2013. Prior to
joining PLDT, he worked with Verizon Business, Cisco Systems and
Goldman Sachs in the United States. He has held technical, sales,
consulting and leadership roles in these organizations as well as
gained industry experience in the global financial services vertical.
He served as Vice President of Goldman Sachs’ Network Voice and
Multimedia Division and Chief Architect for Unified Communications
platforms. Mr. Gendrano obtained his Bachelor of Science degree
in Electronics and Communications Engineering from De La Salle
University and Master of Science degree in Electrical Engineering,
Major in Telecommunications and Networking from the University
of Pennsylvania.
Emmanuel Ramon C. Lorenzana I 58, Filipino
Chief Transformation and Customer Officer, has been the Chief
Commercial and Customer Advisor of the Company since January
1, 2022. He is an Independent Director of ATRAM where he is a
member of the Executive Committee and Chair of the Governance
& Risk Committees and has been serving as such since 2018. He
also served as President and Chief Executive Officer of MediaQuest
from 2014-2016, Executive Vice President and Head of Consumer
Wireless Business of Smart Communications, Inc. from 2012 to 2013,
and President of NutriAsia Inc. from 2008 to 2011. He likewise held
senior management positions in Unilever from 1988 to 2008, such as
Chairman and Managing Director of Unilever Malaysia and Singapore,
Managing Director of Unilever Philippines, Unilever Vice President
for Oral Care (Asia, Africa and Latin America), Business Planning
Director of Unilever Philippines, and Marketing Director of Unilever
China. Mr. Lorenzana graduated with a Bachelor’s Degree in Chemical
Engineering from the University of the Philippines, and completed
the Blockchain Strategy Program of Said Business School, University
of Oxford, Emerging Leadership of Innovation across Sectors and
Internet-of-Things/Business Implications and Opportunities of MIT
Sloan School of Management, and Advance Executive Program of
Kellog School of Management.
Jeremiah M. de la Cruz I 46, Filipino
He is Senior Vice President and Head of the Consumer Business–Home
Group of PLDT Inc., the Philippines’ largest fully integrated telco
company. Through its principal business groups – from fixed line to
wireless – PLDT offers a wide range of telecommunications and digital
services across the Philippines’ most extensive fiber optic backbone,
and fixed line and cellular networks.
Jeremiah is an accomplished strategic leader with solid experience in
managing cross functional teams in delivering revenue and growth,
he oversees day-to-day operations for the Home business covering
product, marketing, sales, customer experience and field operations.
Prior to joining PLDT Inc., Jeremiah has led enterprise-wide business
transformation in various companies in the APAC region. He directed
the Digital Strategy of Hoytz and handled senior leadership roles in
Globe Telecoms, PT. XL Axiata Tbk, Optus and Vodafone. Jeremiah
earned his Post Graduate Certificate in Management from the
Australian Graduate School of Management.
Alejandro O. Caeg I 63, Filipino
He is the Head of PLDT and Smart Consumer Sales Group and a
member of the Company’s Management Committee. Currently, he is
a director of PLDT Global Corporation and was its CEO from 2010
to 2017, a director of MVP Rewards & Loyalty Solutions from 2019,
and a director of Inspiro Philippines from 2018. He previously served
as Head of Wireless Consumer Sales and Distribution of Smart from
2016 to 2017, Head of International & Carrier Business from 2009 until
2016, and PLDT’s representative to the ITW Global Leaders Forum as
well as to the Pacific Telecommunications Council. He was Smart’s
representative to the Conexus Mobile Alliance (one of Asia’s largest
cellular roaming alliances), where he was also designated as its Deputy
Chairman until 2012 and eventually as Conexus Chairman until 2014.
Prior to joining PLDT in 2009, he was appointed by PT Smart Telecom
Tbk (Indonesia) as its Chief Commercial Strategy Officer from July
to December 2008 and as Chief Commercial Officer from 2006 to
2008. Since joining Smart in 1993, he has held various sales, marketing
and customer experience-related positions including that of Group
Head of Sales and Distribution (2003-2005), Group Head of Customer
Care and National Wireless Centers (1998-2001) and Marketing Head
of International Gateway Facilities and Local Exchange Carrier (1997-
1998). He also served as CEO of Telecommunications Distributors
Specialist, Inc. (TSI) in 2002 and as Chief Operations Adviser of
I-Contacts Corporation (Smart’s Call Center subsidiary) from 2001 to
2002. Mr. Caeg graduated with a Bachelor’s Degree in AB Applied
Economics and obtained MBA credits from De La Salle University.
PLDT 2022 ANNUAL REPORT
62
EXECUTIVE OFFICERS
Menardo G. Jimenez, Jr. I 60, Filipino
He joined PLDT in December 2001 and served in various capacities as
Corporate Communications and Public Affairs Head, Retail Business
Group Head, Business Transformation Office Head, Human Resources
Group Head and Consumer Home Business Group Head. He holds
directorships in several subsidiaries of PLDT. Prior to joining PLDT,
he had a stint at GMA Network, Inc., where he served as head of a
creative services and network promotions. Mr. Jimenez received his AB
Economics Degree from the University of the Philippines.
Leo I. Posadas I 56, Filipino
He is Treasurer of the PLDT Group and concurrent Treasury Head
of PLDT and Smart, handles the treasury management and treasury
operations of several companies under the PLDT Group. He is a
director and Treasurer of PLDT Global Investments Holdings, a director
and Vice President for Treasury of Mabuhay Investments Corporation,
and the Treasurer of the Vega Telecom group. He is the Chief Financial
Officer of PLDT Global Corporation. He is also the Treasurer of Smart,
ePLDT, Digital Telecommunications, Digitel Mobile, PLDT-Smart
Foundation and several other subsidiaries of PLDT and Smart. Prior
to joining PLDT in September 2000, he served as Treasury Manager
of Total Petroleum Philippines, and as Manager for Foreign Exchange
Management of San Miguel Corporation. Mr. Posadas received his
Bachelor of Arts Degree in Economics and Bachelor of Science degree
in Commerce Major in Management of Financial Institutions from
De La Salle University.
Melissa V. Vergel de Dios I 60, Filipino
She is Chief Sustainability Officer effective November 4, 2021 and
concurrent Corporate Sustainability Office Head and Investor Relations
Head. She has been in PLDT’s service since May 2001 and served as
Property Management Center Head until May 2003 and as Property
and Facilities Management Center Head until September 2007. Prior
to joining PLDT, she was the Chief Operating Officer of Wharton
Credit Corp. and from June 2000 to May 2001 was the Group Chief
Finance Officer of Global 3 Internet Holdings, Inc. She held various
positions in San Miguel Group of Companies from 1984 to 2000. Ms.
Vergel de Dios obtained her Bachelor of Science Degree in Marketing
and Management and Bachelor of Arts degree in Economics from
Assumption College.
Gil Samson D. Garcia I 51, Filipino
He is First Vice President and Head of PLDT Financial Controllership
Sector since June 2022 and concurrent Group Chief Financial Officer
(CFO) of the ePLDT Group since May 2015 which includes ePLDT,
Inc., Curo Teknika, Inc. (Curo), ABM Global Solutions Inc. (AGS), IP
Converge Data Services, Inc. (IPC), IPC RACK I.T. Data Center, Inc.
(RACK IT), and ePDS, Inc. (ePDS). He has been the CFO of MVP
Rewards & Loyalty Solutions, Inc. (MRSI) since September 2018,
and director of ePDS, AGS, Curo, RACK IT and IPC since June 2019,
January 2021, May 2021, June 2021, and July 2021, respectively.
He served as CFO of Curo, AGS, IPC and RACK IT and ePDS from
September 2015 – April 2020, September 2015 – May 2020, January
2017 – May 2020, April 2018 – May 2020, and June 2019 – May 2021,
respectively. He was appointed as Controller of PLDT Communications
and Energy Ventures, Inc. (PCEV) in June 2022.
He joined PLDT as Assistant Vice President and Head, Revenue and
Cash Accounting (RevCash) in February 2007 to March 2010, and
as Vice President until June 2010. His role was expanded as Head of
Revenue Management and Cash (RevManCash) from July 2010 to
October 2018, and became First Vice President in November 2018.
Prior to joining PLDT, he was a Senior Director of the Business Risk
Services Group of SGV & Co. / Ernst & Young until January 2007,
where he started his career in November 1992, gaining a wide-range of
experiences in various industries, here and abroad, both for public and
private sectors, in external audit, internal audit, finance / accounting,
business process review and advisory, Sarbanes[1]Oxley (SOX)
404 / 302 evaluation & consultancy, risk management, corporate
governance, and business fraud investigation, and fraud prevention
and detection, among others.
Mr. Garcia graduated Cum Laude from the University of Santo Tomas
with a Bachelor of Science Degree in Commerce, Major in Accounting.
He is a Certified Public Accountant (CPA), and a globally Certified
Internal Auditor (CIA) and Certified Fraud Examiner (CFE). He
completed the Management Development Program in Asian Institute
of Management School of Executive Education in cooperation with
PLDT & Smart in August 2016, and the High Potential Program /
Leadership Talent Assessment facilitated by Development Dimensions
International in October 2020.
Luis S. Reñon I 53, Filipino
He is the Internal Audit Group Head of PLDT. He joined PLDT in July
2018. Prior thereto, he was the Emerging Markets Chief Finance
Officer of Pfizer Inc. handling teams across the Philippines, Thailand,
Malaysia, Indonesia, Vietnam, and Pakistan. He started his professional
career in the Audit and Business Advisory Division of Ernst & Young
Manila and Singapore for six years. He then moved to Novartis Asia
Pacific in Singapore as Regional Auditor and Team Leader, managing
APAC auditors in conducting business review and compliance
test of operations in Asia Pacific and Europe. He moved back to
the Philippines in 2000 where he became the Head of Finance,
Administration and Operations of Novartis’ Animal Health Business
Unit. He pursued a rewarding career in Wyeth Philippines and Pfizer,
Inc., where he took on various roles with increasing responsibilities
in Strategic Planning and Business Finance, as Pfizer’s Country CFO
in 2011 during the Pfizer-Wyeth integration and as Emerging Markets
CFO in 2014. Mr. Reñon is a Certified Public Accountant. He completed
his Bachelor’s degree in Commerce, major in Accounting at Araullo
University, and his Master’s degree in Business Administration at the
Ateneo de Manila University, where he garnered the Gold Medalist
Award. He attended the Management Development Program of the
Asian Institute of Management in 2005 and the Financial Excellence
Program of Harvard Business School in 2002.
Anabelle L. Chua I 62, Filipino1
She served as the Chief Financial Officer and Chief Risk Management
Officer of the PLDT Group from May 18, 2015 and August 9, 2018,
respectively, until April 16, 2023.
Mary Rose L. Dela Paz I 51, Filipino2
She served as the Chief Procurement Officer of PLDT from July 16,
2019 until April 14, 2023.
Mario G. Tamayo I 63, Filipino3
He served as the Technology Group Head of PLDT from July 1, 2021
until April 14, 2023.
1Retired as of April 16, 2023
2Resigned as of April 14, 2023
3Retired as of April 14, 2023
PLDT 2022 ANNUAL REPORT 63
Leadership
Transformation Team
Alfredo S. Panlilio
Victorico P. Vargas
Danny Y. Yu
Gina Marina P. Ordonez
Roderick S. Santiago
Emmanuel Ramon C. Lorenzana
Joseph Ian G. Gendrano
Marilyn A. Victorio-Aquino
Jeremiah M. de la Cruz
Francis Aldwin E. Flores
Victor Emmanuel S. Genuino II
Albert Mitchell L. Locsin
The Leadership Transformation Team was formed in July 2022 to focus on driving the execution of PLDT’s
aspirational 2025 vision and strategy, enabling cross-functional collaboration for agile decision-making and
improved group-wide efficiencies and productivity.
PLDT 2022 ANNUAL REPORT
64
Officers
Alfredo S. Panlilio
Director, President and
Chief Executive Officer
Marilyn A. Victorio-Aquino1
Director, Senior Vice President,
Chief Legal Counsel and Corporate
Secretary
Victorico P. Vargas
Leadership Transition Officer
Danny Y. Yu3
Senior Vice President, Chief Financial
Officer and Chief Risk Management Officer
Emmanuel Ramon C. Lorenzana4
Senior Vice President and Chief
Transformation and Customer Officer
Gina Marina P. Ordoñez
Senior Vice President and
Chief People Officer
Joseph Ian G. Gendrano6
Senior Vice President,
Chief Technology Officer
Alejandro O. Caeg
Senior Vice President and
Head of Consumer Sales
Jeremiah M. De la Cruz7
Senior Vice President and Head of
Consumer Business - Home
Menardo G. Jimenez, Jr.
Senior Vice President,
Customer Business-Home
Luis S. Reñon8
Senior Vice President and
Head of Internal Audit
Anabelle L. Chua2
Senior Vice President,
Chief Financial Officer
and Chief Risk Management Officer
Mary Rose L. Dela Paz5
Senior Vice President and
Chief Procurement Officer
Mario G. Tamayo5
Senior Vice President and Network Head
Leo I. Posadas
First Vice President and Treasurer
Melissa V. Vergel De Dios
First Vice President, Chief Sustainability
Officer and Head of Investor Relations
Gil Samson D. Garcia
First Vice President and Head of
Financial Controllership
Katrina L. Abelarde
First Vice President and Head of Strategic
Partnerships and Revenue Operations
Benedict Patrick V. Alcoseba
First Vice President and Head of
Enterprise Product Management
and Marketing
Marco Alejandro T. Borlongan
First Vice President,
Consumer Business - Home
Mary Julie C. Carceller
First Vice President and Head of Strategic
Program Management
Bernard H. Castro
First Vice President and Head of Network
Quality Assurance
Joseph Michael Vincent G. Co
First Vice President and Head of People
Group Operations
Joan A. De Venecia-Fabul
First Vice President, Deputy Chief Legal
Counsel and Head of Legal Practice
Victor Emmanuel S. Genuino II
First Vice President and Head of Digital Office
John John R. Gonzales
First Vice President and Head of Enterprise
Digital Solutions
Ma. Criselda B. Guhit
First Vice President and Head of Tax
Management and Advocacy
Leah Camilla R. Besa-Jimenez
First Vice President and Head of Risk
and Privacy
Gary Manuel Y. Kho10
First Vice President and Head of IT
Architecture and Planning
Albert Mitchell L. Locsin
First Vice President and Officer-in-Charge
of Enterprise Business Group
Angel T. Redoble
First Vice President and Chief Info Security
Officer and Cyber Security Operations Head
Jeanine R. Rubin
First Vice President and Head of Customer
Experience
Bernadette C. Salinas
First Vice President, Officer-in-Charge
of Supply Chain Management
Roderick S. Santiago11
First Vice President and Deputy Network Head
Patrick S. Tang
First Vice President and Head of Home
Customer Management
Victor Y. Tria
First Vice President and Head of Enterprise
Revenue Group 1
Jude Michael H. Turcuato
First Vice President and Head of Sports
John Henri C. Yanez
First Vice President and Head of Home
Marketing
Catherine Y. Yang
First Vice President and Group Corporate
Communications Officer
Princesita P. Katigbak9
First Vice President and Head of National
Key Accounts
Ma. Magdalene A. Tan
Vice President and Officer-in-Charge of
Corporate Governance
Abner Tito L. Alberto
Vice President and Assistant Corporate
Secretary
Minerva M. Agas
Vice President and Head of Logistics
Cecille M. Alzona
Vice President and Head of Home and
Enterprise Finance Business Partnering
Roy Victor E. Añonuevo
Vice President and Head of Customer Care
Operations Support
Tito Rodolfo B. Aquino, Jr.
Vice President and Head of Commercial
Contracts Management & Governance
Mitchie M. Arcaina
Vice President and Head of Culture
Maria Cecilia A. Arevalo
Vice President and Head of Consumer
Care Operations
Jerameel A. Azurin
Vice President and Head of Disruptive
Business Product Management
Francis A. Bautista
Vice President and Head of Finance Digital
Innovation Hub
Dianne M. Blanco
Vice President and Head of Consumer Credit
and Accounts Management
Luis Gregorio D. Casas
Vice President and Head of CRM BPO Industry
Benjamin Jose C. Causon, Jr.
Vice President and Head of GMM East Area
Operations Management
Melvin Jeffrey C. Chan
Vice President and Head of IOT Business
Development & Enterprise Innovations
Ma. Monica M. Consing
Vice President and Head of PG Policy
Governance and Development
Branden B. Dean
Vice President and Head of IT Operations
Support Systems & Automation Management
Ramil C. Enriquez
Vice President and Head of HOME Business &
Consumer Analytics
PLDT 2022 ANNUAL REPORT 65
Aniceto M. Franco III
Vice President and Head of National Key
Accounts Partnership Head
Gene S. De Guzman
Vice President and Head of Enterprise
Service Assurance Management I
Rai Antonio A. De Jesus12
Vice President and Head of Procurement -
IT Category
Leonard A. Gonzales
Vice President and Head of Property,
Facilities and Security Management
Silverio S. Ibay, Jr.
Vice President and Technology Finance
Business Partnering Head
Gary F. Ignacio
Vice President and Head of Enterprise
Strategic Business Development
Marven S. Jardiel9
Vice President and Head of and Enterprise
Customer Operations Management
Javier C. Lagdameo
Vice President and Head of CRM
Conglomerate 1
Ser John S. Layug
Vice President and Head of Luzon Project
Management
John Henry S. Lebumfacil
Vice President and Head of Enterprise
Resource Planning
Armando Dodjie T. Lim
Vice President and GMM North Area
Operations Management Head
Czar Christopher S. Lopez
Vice President and Head of Customer
Fixed Access, Quality and Outside Plant
Project Management
Paolo Jose C. Lopez
Vice President and Head of Home Stores and
Emerging Channels
Ma. Carmela F. Luque
Vice President and Head of Financial Audit
Mark David P. Martinez
Vice President and Head of Revenue Contracts
Loreevi Gail O. Mercado
Vice President and Head of Group
Talent Management
Evert Chris R. Miranda13
Vice President and Head of Home Digital
Services Marketing
Oliver Carlos G. Odulio
Vice President and Head of Enterprise
Business Continuity & Resilience
Audrey Lyn S. Oliva14
Vice President and Head of Strategic Analytics
Charles Louis L. Orcena
Vice President and Head of Advanced
Analytics & Decision Science
Anna Karina V. Rodriguez16
Vice President and Head of Portfolio Value
Management
Marielle M. Rubio12
Vice President and Head of Organization
Planning & Optimization
Genaro C. Sanchez
Vice President and Head of Global
Capacity Strategy
Maria Christina C. Semira
Vice President and Head of Finance
Operations Order-to-Cash
Arvin L. Siena
Vice President and Head of Network
Design Studio
Carla Elena A. Tabuena
Vice President and Head of Enterprise
Business Service Operations Management
Jecyn Aimee C. Teng
Vice President and Head of CRM Banking
and Financial Services
Milan M. Topacio
Vice President and Head of Core and
Technical Assistance
Ma. Delia V. Villarino
Vice President and Head of Enterprise
Revenue Group 3
Radames Vittorio B. Zalameda
Vice President and Head of Network Quality
Wilson S. Bobier2
Vice President and Head of E2E
Program Management
Alexander S. Kibanoff2
Vice President and Head of Learning
and Development
Serviliano L. Padiz, Jr.15
Vice President and Corporate Support
Finance Business Partnering Head/Business
Partnering Valuation
Raymond A. Racho15
Vice President and Revenue Assurance Head
1Appointed as Corporate Secretary effective January 25, 2022; elected as director effective May 8, 2023.
2Separated from service effective April 16, 2023.
3Appointed as PLDT Group Controller effective November 17, 2022, and served as such until May 3, 2023; appointed as Chief Financial Officer and Chief Risk Management Officer
effective May 4, 2023.
4Appointed as Senior Vice President and Chief Transformation and Customer Officer effective January 1, 2023.
5Separated from service effective April 14, 2023.
6Promoted from First Vice President to Senior Vice President effective August 10, 2022; appointed as Chief Technology Officer effective January 1, 2023.
7Appointed as Senior Vice President effective April 1, 2022.
8Promoted to Senior Vice President effective May 4, 2023.
9Separated from service effective January 1, 2023.
10Appointed as First Vice President effective October 1, 2021.
11Appointed as First Vice President effective January 16, 2022.
12Appointed as Vice President effective August 1, 2021.
13Appointed as Vice President effective September 16, 2021.
14Appointed as Vice President effective December 1, 2021.
15Separated from service effective May 1, 2023.
16Appointed as Vice President effective October 16, 2021.
PLDT 2022 ANNUAL REPORT
66
PLDT 2022 Financial Review
PLDT 2022 ANNUAL REPORT
66
PLDT 2022 ANNUAL REPORT 67
Contact
Information
CORPORATE GOVERNANCE
CORPORATE GOVERNANCE OFFICE
Email address: corpgov@pldt.com.ph
Email address for governance related concerns/reports:
CGOHotline@pldt.com.ph
PLDT’s Corporate Governance Manual, Code of Business
Conduct and Ethics and NYSE Section 303A.11 Disclosure,
which summarizes the difference between PLDT’s corporate
governance practices and those required of U.S. companies
listed on the NYSE, and its reports on Form 17-A (Philippines)
and 20-F (US) may be downloaded from
Corporate Governance Manual -
https://pldt.com/docs/default-source/corporate-governance-
files/cg-manual-/pldt-manual-on-corporate-governance.pdf
Code of Business Conduct and Ethics –
https://pldt.com/docs/default-source/policies/pldt-code-of-
business-conduct-and-ethics.pdf
NYSE 303A.11 Disclosure –
https://cms.pldt.com/drupal/sites/default/files/cgdisclosures/
nyse-section-303a-11-disclosure_5.pdf
Form 20-F -
https://main.pldt.com/investor-relations/annual-and-
sustainability-reports#us-sec-filing
Form 17-A -
https://main.pldt.com/investor-relations/annual-and-
sustainability-reports#phil-sec-filing
SHAREHOLDER SERVICES
(for inquiries on dividends, stock certificates and related matters)
PLDT Shareholder Services
Telephone: (632) 8843-1285
Email address: pldtshareholderservices@pldt.com.ph
COMMON STOCK1 AND VOTING PREFERED STOCK
Philippine Registrars and Transfer Agents
BDO Unibank, Inc. – Trust & Investments
Group Securities Services (Stock Transfer)
46th Floor BDO Corporate Center, Ortigas,
East Tower 12 ADB Avenue, Mandaluyong City
Trunkline: (632) 8840-7000
Direct Line: (632) 8878-4961; (632) 8840-7000 local 57050
Email address: bdo-stocktransferteam2@bdo.com.ph
NON-VOTING SERIAL PREFERRED STOCK
10% CUMULATIVE CONVERTIBLE PREFERRED STOCK2
SERIES IV CUMULATIVE NON-CONVERTIBLE REDEEMABLE
PREFERRED STOCK
RIZAL COMMERCIAL BANKING CORPORATION
3/F West Wing, 221 GPL (Grepalife) Building,
Sen. Gil Puyat Avenue, Makati City, Philippines
Telephone: (632) 8553-6937
Fax: (632) 8892-3139
Email address: abmadrid@rcbc.com; errebulado@rcbc.com
DEPOSITARY OF AMERICAN DEPOSITARY SHARES
AMERICAN DEPOSITARY RECEIPT FACILITY3
JPMorgan Chase Bank, N.A.
P.O. Box 64504
St. Paul, MN 55164-0504
U.S. Domestic Toll Free: (1-800) 990-1135
International Telephone No.: (1-651) 453-2128
Email address: https://www.shareowneronline.com/informational/
contact-us
Website: www.adr.com
SUPPLIER MANAGEMENT
(for inquiries on vendor accreditation)
Telephone: (632) 8844-2361 / 8856-9506 / 8846-1131 / 8815-1988 /
8843-0038 Fax: (632) 8860-6551
Email: mcyasa@pldt.com.ph ccespiritu@pldt.com.ph msargonia@pldt.
com.ph vmendoza@pldt.com.ph adabella@pldt.com.ph jctungcod@
pldt.com.ph pequinones@pldt.com.ph
CUSTOMER CARE SERVICES
(for service-related concerns)
PLDT CUSTOMER CARE
Call Center: 171
Non-PLDT subscribers who wish to contact PLDT: (632) 88888-171
Facebook: PLDT Home
Twitter: @PLDT_Cares
Internet users can access information about PLDT and its products
and services at: www.pldthome.com
INVESTOR RELATIONS
(for financial and operating information on PLDT)
PLDT INVESTOR RELATIONS CENTER
12F Ramon Cojuangco Building
Makati Avenue, Makati City, Philippines
Telephone: (632) 8816-8024
Email address: pldt_ir_center@pldt.com.ph
PLDT RECRUITMENT
Follow facebook.com/PLDTCareers
CONTACT INFORMATION
Information (for general inquiries)
Ramon Cojuangco Building (RCB)
Telephone: (632) 8893-0015
Makati General Office (MGO)
Telephone: (632) 8816-8659
ENTERPRISE GROUP
(for corporate accounts concerns)
Telephone: +632 8840-5433
Fax: +632 8860-6112
Email Address: pldtenterprise@pldt.com
1 The shares of Common Capital Stock of PLDT Inc. are listed on the Philippine Stock
Exchange (ticker: TEL).
2 PLDT Inc. has established an American Depositary Receipt facility under which
American Depositary Shares (ticker:PHI) representing shares of Common Capital Stock
are listed and traded on the New York Stock Exchange. The American Depositary
Shares are evidenced by American Depositary Receipts issued by the Depositary.
3 PLDT has established an American Depositary Receipt facility under which American
Depositary Shares (ticker: PHI) representing shares of Common Capital Stock are listed
and traded on the New York Stock Exchange. The American Depositary Shares are
evidenced by American Depositary Receipts issued by the Depositary.
WWW.PLDT.COM