Board of Directors
At First Gen’s EDC, the Board of Directors is composed of a diverse and balanced mix of competent individuals, where each member contributes their considerable know-how, experience, and independent judgment when formulating sound corporate strategies and policies for the company.
Our Nomination and Compensation Committee reviews and evaluates the qualifications of each nominee, including independent directors. Each one is selected on the basis of their knowledge, experience and skills in various fields relevant to our business.
Mr. Lopez, Filipino, has been a member of the Board since November 29, 2007. He is Chairman and Chief Strategy Officer of EDC and Chairman and Chief Executive Officer of the publicly listed companies First Gen Corporation (“First Gen”), First Philippine Holdings Corporation (“FPH”), and Lopez Holdings Corporation. He is Vice Chairman of Rockwell Land Corporation (“Rockwell Land”) and he sits on the board of ABS-CBN Corporation, which are also publicly listed companies. Mr. Lopez is Chairman of the Oscar M. Lopez Center for Climate Change Adaptation and Disaster Risk Management Foundation, Inc. (“OML Center”) and Sikat Solar Challenge Foundation, Inc., and Chairman and President of Ang Misyon, Inc. He is also a member of the Board of Trustees of the Philippine Disaster Resilience Foundation, the Eugenio Lopez Foundation, Inc., and Endeavor Philippines. Mr. Lopez is a member of the New York Philharmonic International Advisory Board, Asia Business Council, World Presidents’ Organization, Chief Executives Organization, Management Association of the Philippines, Philippine Chamber of Commerce and Industry, European Chamber of Commerce of the Philippines, and Makati Business Club. Mr. Lopez is a graduate of the University of Pennsylvania with a Bachelor of Arts degree double major in Economics and International Relations (cum laude, 1983).
Mr. Puno, Filipino, has been a director of EDC since November 29, 2007. He is currently the Vice-Chairman and Chief Executive Officer of EDC. He also sits in the boards of publicly listed companies First Gen, FPH, and Rockwell Land. Mr. Puno is also the President and Chief Operating Officer of FPH and the Vice-Chairman, President and Chief Operating Officer of First Gen. He is the President of First Philippine Industrial Park. Mr. Puno sits in the Board of Trustees of the Philippine Business for Social Progress, OML Center, Lopez Group Foundation, Inc., Eugenio Lopez Foundation, Inc., Sikat Solar Challenge Foundation, Inc., and Knowledge Channel Foundation, Inc. He has a Bachelor of Science in Business Management degree from Ateneo de Manila University (1985) and a Master’s degree in Business Administration from the Kellogg Graduate School of Management of Northwestern University (1990).
Mr. Cainglet, Filipino, sits as director of EDC since July 1, 2023. He is currently the President and Chief Operating Officer of EDC and various EDC operating subsidiaries including, BGI, GCGI, and EDC Geothermal Corp. and a Senior Vice-President in First Gen. He is also a Foundation Member of the OML Center and a Trustee of KEITECH Educational Foundation, Inc. He holds a Bachelor of Science degree in Chemical Engineering from the University of the Philippines (1989) and has an Executive Masters in Business Administration degree from the Asian Institute of Management (2006).
Mr. Tantoco, Filipino, has been a director of EDC since November 29, 2009 and several EDC subsidiaries. He is a Director of First Gen and FPH and an Independent Director of Cebu Air, Inc. First Gen, FPH, and Cebu Air Inc. are publicly listed companies. Mr. Tantoco served as the President and Chief Operating Officer of EDC and its subsidiaries from 2009 to 2023. He was an Executive Vice President of First Gen and several First Gen subsidiaries and its affiliates from 2007 to June 2023. Mr. Tantoco was also the President from 2012 to 2023 and a Trustee of the OML Center, and is a Trustee in the board of several non-profit organizations such as KEITECH Educational Foundation, Inc., The Eugenio Lopez Foundation, Inc., and The Knowledge Channel. He is also a member of the Young Presidents Organization. He has a Bachelor of Science degree in Business Management from Ateneo de Manila University where he graduated with honors (1988). He also has an MBA in Finance from the Wharton School of Business of the University of Pennsylvania (1993).
Mr. Russell, British, has been a director of EDC since November 29, 2007. He is also an Executive Vice President and Chief Commercial Officer of First Gen and director of GCGI. He is also a Senior Adviser in FPH, a listed company. Mr. Russell has a Bachelor of Science degree in Chemical and Administrative Sciences (with Honours, 1987) and a Master of Business Administration in International Business and Export Management degree (with Distinction) (1989), both from City University Business School in London, England.
Mr. Seng, Singaporean, has been a director of EDC since February 4, 2021. He currently serves as an Advisor to the GIC Private Limited (“GIC”). Prior to this, he was the Chief Investment Officer for Infrastructure in GIC, and before that, President of Europe and Head of Integrated Strategies Group of GIC. Mr. Ang holds a Master’s degree from Cambridge University (1984). He is a Certified Public Accountant and a Chartered Financial Analyst charter holder.
Pierre Eugene Jean Pont, Australian, was nominated as a director of EDC. He is a Managing Director and the APAC Transformation & Operations Lead within the Portfolio Performance Group at Macquarie Asset Management (“MAM”). He has more than 15 years of experience supporting public and private boards across the United States, Asia-Pacific, and Europe, Middle East and Africa, designing and delivering large-scale transformation. Mr. Pont holds a Master of Business Administration from Stanford Graduate School of Business and a Master of Science in Business from HEC Paris.
Mr. Baldwin, Australian, has been a director of EDC since October 3, 2017. He was also a Senior Managing Director at Macquarie Asset Management (“MAM”), where he led MAM’s Portfolio Performance Group across the Asia-Pacific region. Mr. Baldwin holds a Bachelor of Engineering (Chemical) degree from the University of Canterbury and a Master of Business Administration degree from Victoria University of Wellington.
Ms. Lim, Australian, joined EDC as a director on December 5, 2025. She is currently Chief Executive Officer of Macquarie Group Asia and the Co-Head of Asia-Pacific MAM Infrastructure. She is also the Head of Investments for the Macquarie Asia- Pacific Infrastructure Fund (MAIF) series, one of the largest infrastructure platforms dedicated to investing in the Asia Pacific. Ms. Lim holds a Bachelor of Commerce in Finance and a Bachelor of Laws degrees from the University of New South Wales.
Mr. Quiniones, Filipino, has been an Independent Director of EDC since May 11, 2021. He is also the Executive Director of Pilipinas Shell Foundation since January 2019, Chairman of the Board of Mindoro Biodiversity and Conservation Foundation since 2016, and a member of STEM Alliance Philippines since 2020. Mr. Quiniones graduated from the Philippine Science High School (1976) and became an NSDB scholar at the University of Philippines Diliman where he studied Chemical Engineering.
Ms. Lara, Filipino, has been an Independent Director of EDC since May 11, 2021. She is a director of Artists and Company, a talent management firm, and an Independent Director of Electronic Network Cash Tellers, Inc. Prior to this, she was the Vice Chairman of Publicis/Jimenez Basic; General Manager and Client Services Director of Jimenez/D’ARCV; President and CEO of Basic Advertising; and Management Supervisor of Mullenlowe Treyna. Ms. Lara graduated from Ateneo De Manila University where she studied AB Communications Arts. She took a certificate course in Marketing and Advertising from New York University.
Mr. Paterno, Filipino, was elected as an Independent Director of the Company in 2025. Mr. Paterno is currently the Chairman of Philippine Seven Corporation. He served as President and Chief Executive Officer from 2005 to 2025 and is currently a Director of Convenience Distribution Inc. Mr. Paterno graduated from Lehigh University in Bethleham, Pennsylvania, USA with a degree in BS Mechanical Engineering in 1990, magna cum laude.
Board Meetings and Activities of the Board
During the Board meetings, the directors are apprised on EDC’s over-all performance, major business issues, new projects, as well as its economic and environmental impact. Board meetings are occasions to discuss strategic matters and those requiring its member’s approvals, as part of the BOD’s monitoring function over corporate activities.
EDC’s Board meetings are usually scheduled at the beginning of the year to allow the Board to calendar and ensure maximum attendance in EDC Board meeting. EDC’s Corporate Secretary, through the Office of the President, prepares the schedule of EDC’s Board meetings, in accordance with its By-laws, and disseminates it to the members of the Board and key executives so that EDC’s Directors can plan accordingly and fit the year’s Board meetings into their respective schedules.
Quorum Requirement
The minimum quorum requirement for Board decisions under EDC’s By-Laws is a majority of the total number of Directors of which (i) for so long as Red Vulcan holds sufficient shares to enable it to appoint at least one (1) Director, one (1) must be a Red Vulcan Director; and (ii) for so long as the Participation Conditions (as defined in the By Laws) are satisfied and there is at least one (1) incumbent Investco Director who is not an Unsuitable Director (as these terms are defined in the By Laws), one (1) must be an Investco Director.
Records of the Board Meetings
Board meetings are recorded and minuted, and all resolutions are documented by the Corporate Secretary. Committee meetings are likewise recorded and minuted, with the resolutions documented by the respective Committee Secretariats.
Board Training Program
Directors, corporate officers and Senior Management attend corporate governance seminar conducted by a duly accredited training provider. The corporate governance seminars provides the Directors, officers, and Senior Management an opportunity to learn and integrate corporate governance principles and be provided with useful insights on various and current governance issues.
Board Strategic Planning
To align the activities of the Company with its vision, mission, core values, and goals for the year, the Board of Directors conducts a Board Strategy Meeting. For 2020, the Board Strategy Meeting was conducted last September 9, 2020. The Board Strategy Meeting provided a venue for the Directors to set strategic directions and guidance. The Directors revisited and affirmed the company’s mission and vision, and analyzed the present and future operating environment given the market trends. The Directors likewise assessed major opportunities and risks for the Company.
The Board Self-Evaluation
The Board’s Self-Evaluation helps the Board assess the overall performance and effectiveness of the Board and the Board Committees as well as the performance of the Chairman/CEO and the President/COO in respect of their governance responsibilities. The Board’s Self-Evaluation helps it identify its strengths and weaknesses as well as those of the Company, leading to an improvement in performance throughout the organization.
Compensation of Directors and Executive Officers
The Nomination and Compensation Committee has the responsibility to review and recommend to the Board the Company’s compensation system and remuneration packages for corporate officers and Directors.
The levels of honoraria, remuneration or compensation for EDC’s Directors and executive officers are set at the optimum level to attract and retain the services of qualified and competent Directors and officers. A portion of the honoraria, remuneration or compensation of the Directors, whether executive, non-executive or independent, may also be structured or be based on corporate and individual performance. In accordance with its By-Laws, the Board shall receive compensation for their services pursuant to a resolution of the stockholders.