Governance

SRPC upholds the principles of good governance to protect its corporate value, the productivity and morale of its workforce, and the integrity of its resources.

The Company has put in place basic principles of good governance:

  • The existence of an affective and efficient Board of Directors and Executive Management Team;
  • A clear management decision-making process that involves the employees;
  • The internal control systems as provided in the Company standards and procedures;
  • Regular reporting to the shareholders and other stakeholders of the Company;
  • A mechanism for identifying and managing risk through effective oversight and internal control and safety management; and
  • A clear remuneration policy.

The SRPC Board of Directors (Board) is responsible in providing strategic guidance and effective oversight over the Company’s management, including the control and accountability systems. The Board is in charge of appointing the President and CEO and other officers, and ensures that strategic plans and programs of the Company are executed. The Board is also responsible in approving corporate strategy and providing appropriate resources in carrying out the same. The Board is also responsible in approving major capital expenditures and in monitoring financial and other reportorial requirements.

The Board is composed of seven directors and a board secretary, three officers from Marubeni Corporation, three from Kansai Electric Power Company, and one independent member who serves as the chairman with non-executive functions. This arrangement ensures the check and balance in all policy decisions and business transactions in the Company. The independent member of the Board is not a member of the Executive Management Team and is not an employee of any of the shareholders. The members of the Board are carefully selected based on their integrity and competence in business and in the power industry.

The directors of the Board elect the President and CEO and appoint the board secretary and the vice presidents. The directors are elected during the regular meeting of the shareholders and have a one-year term of office until their successors are elected.

The President and CEO is also one of the members of the Board and heads the Executive Management Team that is responsible in ensuring that the Company is managed according to the Company’s vision and mission. The other members of the Executive Management Team are two Senior Vice Presidents, one for Operations and Site Administration and another one for Technical Matters; and five Vice Presidents each for Operations and Maintenance, Finance, Corporate Affairs, Compliance and Human Resources and Administration. This team formulates the strategies, policies, plans, and programs of the Company based on the key result areas that maintain the balance between being a world-class energy producer and a socially responsible corporate neighbor.

 

Board of Directors

Kenshi Iseri                                    Chairman

Moroo Shino

Kazunobu Takijima

Yoshinao Matsushita

Yoshihiro Takechi

Takashi Shimada

Peter B. Favila

Minerva Y. Chua                          Corporate Secretary

Executive Management Team

Kenshi Iseri                                    Chairman and CEO

William Connell                            Senior Vice President for Operations and Site Administrator

Yoshinao Matsushita                   Senior Vice President for Technical Matters

Raymund N. Mariano                  Vice President for Operations and Maintenance

Rheena Liza D. De Guzman       Vice President, Treasurer and Chief Finance Officer

Tommy T. Valdez                          Vice President for Corporate Affairs

Carlos M. Echevarria                   Vice President for Compliance

Ma. Rhona Liza J. Apil               Vice President for Human Resources and Administration