By: Aubrey Camille J. Perez
Research and Content Coordinator
Institute of Corporate Directors
On February 14, 2025, the induction of newly elected Trustees, Officers, and Board and Program Committee Chairs was held at the Dusit Thani Makati. This event marked leadership transitions and highlighted ICD's strong commitment to corporate governance.
The program began with a warm welcome from the Executive Director, Ms. Catherine Jalandoni, GICD, followed by the opening remarks of ICD President, Mr. Senen Matoto, FICD. After delivering an inspirational message, Dr. Jesus “Jess” Estanislao, FICD, Chairman Emeritus, facilitated the induction of ICD trustees.
The newly elected members of the ICD Board of Trustees are:
Chairperson: Atty. Benedicta Du-Baladad, FICD - Managing Partner and CEO of Du-Baladad and Associates
Vice Chairperson: Ms. Imelda C. Tiongson, FICD - President and Execom Member of Opal Portfolio Investments (SPV-AMC) Inc.
President: Senen L. Matoto, FICD - Independent Director of Yuanta Savings Bank Philippines, Inc.
Treasurer: Catherine L. Hufana-Ang, FICD - Managing Director and Chief Audit Executive of Ayala Corporation
Amb. Jose L. Cuisia, Jr., FICD - Honorary Fellow of Institute of Corporate Directors (ICD)
Atty. Jose Tomas C. Syquia, FICD - Private Law Practitioner / Securities Law & Procurement Consultant
Mr. Donald Patrick L. Lim, FICD - Chief Operating Officer (COO) of DITO CME Holdings Inc.
Mr. Henry Rhoel R. Aguda, FICD - Chairman of UBX and City Savings Bank
Mr. Jonathan Juan D.C. Moreno, FICD - President & CEO of AF Payments Inc.
Mr. Jose Antonio T. Mapa Jr., FICD - Chairman of Primecare Ventures Inc.
Ms. Maria Celeste S. Narciso, FICD - Independent Director of Republic Glass Holdings Inc.
Ms. Tomasa H. Lipana, FICD - Independent Director of SM Investments Corporation
In her message, Chairperson Atty. Du-Baladad expressed gratitude for the support of ICD’s community and leadership. Even after celebrating its 25th anniversary, ICD remains unwavering in its commitment to strengthening governance across various sectors and engaging with the broader community. Under the board's leadership, initiatives such as a member help desk, a 24/7 chatbot for online support, a learning management system for board directors, and an ecommerce system for easier member management will be introduced. Additionally, ICD will open its office to members to foster stronger community engagement and expand learning opportunities. Plans to extend the impact beyond the membership, including collaborations with international organizations, the introduction of governance initiatives for MSMEs, and new recognition awards, were also announced.
Chairperson Atty. Du-Baladad also highlighted key initiatives for the future, including focusing on corporate governance in both public and private sectors. A flagship project aiming to enhance capital markets and governance was also launched. The chairperson concluded by urging all members to actively participate in these efforts to ensure that ICD continues its role as a leader in corporate governance.
Following the Chair’s message, she introduced the capital market project's flagbearer, Dr. Jesus “Jess” Estanislao. Dr. Jess provided an insightful analysis of the current global economic landscape, and pointed out the challenges posed by the tariff wars. Based on his experience and expertise, he discussed how these challenges could lead to economic repercussions (e.g., high inflation, unemployment, and less freedom of movement for goods, finance, and people). Dr. Estanislao also emphasized the need to leverage these crises to build on the country's existing economic foundations, particularly in the areas of natural resources and human capital. He emphasized the need for the Philippines to better utilize its workforce and boost the performance of SMEs.
He also raised concerns about the country’s performance in ASEAN corporate governance rankings and called for a collective effort to improve the standards and performance of publicly listed companies. Dr. Estanislao encouraged ICD members to work together with financial institutions, government bodies, and governance experts to build a stronger financial and capital market base because this will ultimately improve economic growth in the Philippines.
The program also included the recognition of immediate past officers. It also featured a keynote speech by Mr. Romeo Bernardo, Monetary Board Member of the Bangko Sentral ng Pilipinas, entitled “The Year of the Snake: Twists and Turns.” Mr. Bernardo explained how good corporate governance practices and the boards can help in navigating the economic landscape of the Philippines given its current condition.
In conclusion, the induction of ICD’s new leadership marks a significant step in advancing corporate governance. With the commitment to enhancing governance practices and improving capital markets, ICD, with the help of its stakeholders, is set to lead key initiatives that will foster growth and development in the Philippines.
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