(PHStocks) – The Board of Directors of Manila Electric Company (MERALCO; PSE: MER) is implementing an integrated assessment instrument in February 2012, which will cover the performance assessments of the Board of Directors and Board Committees.
The Board performance assessment aims to evaluate individual and collective performance on Board structures, processes and responsibilities. It also addresses and identifies further skills and trainings required by the Board. The Board Committee performance assessment aims to serve as input to the review of the Board Charters, committee direction-setting for the following year, and areas for improvement on committee structure, functions as well as enhancement trainings.
These assessments are in compliance with the requirements of the Corporation Code, SEC Revised Code of Corporate Governance, Meralco’s Revised Manual of Corporate Governance, Meralco’s Amended By-Laws and Board Committee Charters. These instruments were consolidated for efficiency of administration.