Ayala Companies Get Top Marks for Governance

Ayala Corporation has been awarded four Golden Arrows, a step up from last year’s citation, by the Institute of Corporate Directors (ICD) at the 2024 Golden Arrow Awards held on September 19 at the Manila Marriott Hotel.

Golden Arrows are given to companies that comply with the Philippine Code of Corporate Governance and internationally recommended corporate governance practices, as exemplified by their performance in the ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) Assessment Results. The ACGS and CGS evaluate shareholder rights, transparency, accountability, and management practices, with an aim to promote good corporate governance. The ICD recognizes companies that score 80 up to 130 points in the assessments.

Ten other Ayala companies were among the 111 publicly listed companies that received Golden Arrows for their performance in 2023. Globe sustained its five Golden Arrows, while ACEN, Ayala Land, and AyalaLand Logistics Holdings Corporation (ALLHC) obtained four Golden Arrows. Integrated Micro-Electronics, Inc., Bank of the Philippine Islands, and AREIT, Inc. won three Golden Arrows, and ENEX Energy Corporation received one Golden Arrow.

In the insurance category, BPI-AIA Insurance received three Golden Arrows, while BPI/MS Insurance Corporation had one Golden Arrow.

Ayala Corporation President and CEO Cezar Consing receives Ayala’s four Golden Arrows from ICD’s Board of Trustees, namely, Atty. Pedro Maniego, Jr., Amb. Jose Cuisia Jr., Atty. Benedicta Du-Baladad, and Ida Ceniza-Tiongson, and SEC Chairman Emilio Aquino

The Ayala group’s corporate governance officers, led by Ayala’s Franchette Acosta. Globe’s Marisalve Ciocson-Co, ACEN and ENEX’s Alan Ascalon, ALI and AREIT’s Millette Arnedo, and ALLHC’s Patrick Avila, celebrate their respective wins.