PSE elects two new directors to board

THE Philippine Stock Exchange (PSE) on Wednesday elected Cecile L. Ang as its nonbroker director representing investors, and Jaime J. Bautista as an independent director following recent resignations from both posts.

Ms. Ang, daughter of San Miguel Corp. Chairman Ramon S. Ang, was nominated by the San Miguel Corp. Retirement Plan. She will fill the vacancy left by Ferdinand K. Constantino, who stepped down effective Nov. 27, the bourse said in a disclosure.

She will assume the role on the PSE board held by Mr. Constantino, who served on the Audit and Related Party Transactions Committee and the Corporate Governance Committee.

In the same board meeting, the PSE appointed Mr. Bautista as an independent director, replacing Andrew Jerome T. Gan, who resigned on Nov. 5. Mr. Bautista is a former Transportation secretary and was president and chief operating officer at Philippine Airlines, Inc.

The appointments follow established procedures under the PSE’s corporate governance framework, which mandates board representation for investors and independent directors to safeguard stakeholder interests. — Alexandria Grace C. Magno