BOARD OF DIRECTORS

SM Investments Corporation’s Board of Directors set the tone from the top and uphold the highest standard of excellence and integrity. The Board is composed of eight (8) highly qualified directors, majority of whom are non-executive directors. The Board ensures that it has an appropriate mix of competence and expertise and that its members remain qualified for their positions individually and collectively, which enables it to fulfill its roles and responsibilities and respond to the needs of the organization based on the evolving business environment and strategic direction.

Henry Sy

Chairman Emeritus

Henry Sy, Sr. was the Chairman Emeritus of the Board of Directors of SMIC.  He was the founder of the SM Group and was Chairman Emeritus of SM Prime Holdings, Inc., SM Development Corporation, and Highlands Prime, Inc., BDO Unibank, Inc., and Honorary Chairman of China Banking Corporation until his passing.  Mr. Sy opened the first ShoeMart store in 1958 and has since evolved into a dynamic group of companies with three lines of businesses – retail, banking, and property.

Jose T. Sio

Chairman of the Board

82 Years Old

Jose T. Sio is the Chairman of the Board of SMIC. He is also a Director of China Banking Corporation, Belle Corporation, Atlas Consolidated Mining and Development Corporation, NLEX Corporation, and Ortigas Land Corporation, Trustee of Far Eastern University, Incorporated, and Adviser to the Board of BDO Unibank, Inc. and Premium Leisure Corporation. Mr. Sio holds a master’s degree in Business Administration (MBA) from New York University, is a certified public accountant, and is a former Senior Partner of SyCip Gorres Velayo & Co. (SGV). He was voted CFO of the Year in 2009 by the Financial Executives of the Philippines. He was also awarded as Best CFO (Philippines) in various years by several Hong Kong-based publications.

Designation
Chairman of the Board (Non-Executive Director)
Member, Audit Committee
Member, Risk Management committee
Member, Compensation Committee
Member, Related Party Transactions Committee

Positions in other Reporting Companies
Belle Corporation – Director
China Banking Corporation- Director
Atlas Consolidated Mining and Development Corporation – Director
Far Eastern University Incorporated – Trustee

Board Attendance: 100%; 8 of 8 meetings
Date of First Appointment: May 2005
No. of years on the Board: 17 Years
Other Information: No legal dispute in the past five (5) years; No conflict of interest transactions in the past year.

Teresita T. Sy

Vice Chairperson of The Board

71 Years Old

Teresita T. Sy is the Vice Chairperson of SMIC and Adviser to the Board of SM Prime Holdings, Inc. She also sits as Chairperson of SM Retail Inc. She also holds board positions in several companies within the SM Group. She is also the Chairperson of BDO Unibank, Inc. (“BDO”) and serves as the Chairperson and/or Director of various subsidiaries and affiliates of BDO such as BDO Private Bank, Inc. and BDO Foundation, Inc. She also serves as Adviser to the Board of One Network Bank, Inc. (A Rural Bank of BDO). A graduate of Assumption College with a Bachelor of Arts and Science degree in Commerce major in Management, she brings to the board her diverse expertise in retail merchandising, mall and real estate development, and banking and finance. 

Designation
Vice Chairperson of The Board (Non-Executive Director)
Chairperson, Compensation Committee
Chairperson, Executive Committee

Positions in other Reporting Companies
BDO Unibank Inc. – Chairperson of the Board

Board Attendance: 100%; 8 of 8 meetings
First Appointment: May 1979
No. of Years on the Board: 43
Other Information: No legal dispute in the past five (5) years; No conflict of interest transactions in the past year.

Henry T. Sy, Jr.

Vice Chairman of the Board/Non-Executive Director

68 Years Old

Henry T. Sy, Jr. is the Vice Chairman of SMIC and Chairman of SM Prime Holdings, Inc. He is also the Chairman and Chief Executive Officer (CEO) of SM Development Corporation, Chairman of Synergy Grid & Development Phils., Inc. and Vice Chairman of National Grid Corporation of the Philippines. He is responsible for the real estate acquisitions and development activities of the SM Group which include the identification, evaluation, and negotiation for potential sites as well as the input of design ideas. He graduated with a Management degree from De La Salle University.

Positions in other Reporting Companies
SM Prime Holdings, Inc. – Chairman of the Board
Synergy Grid & Development Phils. Inc. – Chairman of the Board

Board Attendance: 100%; 8 of 8 meetings
Date of First Appointment: May 1979
No. of years on the Board: 43 Years
Other Information: No legal dispute in the past five (5) years; No conflict of interest transactions in the past year.


Harley T. Sy

Executive Director

62 Years Old

Harley T. Sy is the Executive Director of SMIC.  He is a Director of China Banking Corporation and other companies within the SM Group and Adviser to the Board of Directors of BDO Private Bank.  He is the Co-Vice Chairman and Treasurer of SM Retail Inc.  He holds a degree in Bachelor of Science in Commerce, Major in Finance from De La Salle University.

Designation
Member, Executive Committee

Positions in other Reporting Companies
China Banking Corporation – Director

Board Attendance: 100%; 8 of 8 meetings
Date of First Appointment: May 1993
No. of years on the Board: 29 Years
Other Information: No legal dispute in the past five (5) years; No conflict of interest transactions in the past year.

Frederic C. DyBuncio

President/CEO

62 Years Old

Frederic C. DyBuncio is the President and Chief Executive Officer of SMIC and 2GO Group, Inc. He is the Vice Chairman of the Board of Atlas Consolidated Mining and Development Corporation. Prior to holding the post, he was a career banker who spent over 20 years with JP Morgan Chase and its predecessor institutions. During his stint in the banking industry, he was assigned to various executive positions where he gained substantial professional experience in the areas of credit, relationship management and origination, investment banking, capital markets, and general management. He has worked and lived in several major cities including New York, Seoul, Bangkok, Hong Kong, and Manila. He graduated from Ateneo de Manila University with a Bachelor of Science degree in Business Management and finished a Master’s degree in Business Administration program at the Asian Institute of Management. 

Designation
Member, Executive Committee

Positions in other Reporting Companies
2Go Group, Inc. – Chairman of the Board/ President/CEO
Atlas Consolidated Mining and Development Corporation – Vice Chairman of the Board

Board Attendance: 100%; 8 of 8 meetings
Date of First Appointment: April 2017
No. of years on the Board: 5 Years
Other Information: No legal dispute in the past five (5) years; No conflict of interest transactions in the past year.

Tomasa H. Lipana

Independent Director

73 Years Old

Tomasa H. Lipana is an independent director of SMIC. She is a former Chairperson and Senior Partner of Isla Lipana & Co., the Philippine member firm of PricewaterhouseCoopers. She is also an independent director and Audit Committee Chairperson of Flexo Manufacturing Corporation, and Trade and Investment Development Corporation of the Philippines (Philippine Guarantee Corporation, formerly Philippine Export Import Credit Agency), a government-owned and controlled corporation. Previously, she was an independent director of Goldilocks Bakeshop Inc., Inter-Asia Development Bank, and QBE Seaboard Insurance Philippines. She was also an appointive director of Trade and Investment Development Corporation (Philippine Guarantee Corporation, formerly Philippine Export-Import Credit Agency), a government-owned and controlled corporation for the last 5 years.  She is a fellow and trustee of the Institute of Corporate Directors. She is also a trustee of the Shareholders’ Association of the Philippines, Inc., among other non-profit organizations. Ms. Lipana took up Executive Education/Management Development Programs at Harvard Business School, University of Western Ontario, and Asian Institute of Management. She received the Outstanding CPA in the Public Practice Award from the Philippine Institute of Certified Public Accountants and the Outstanding Alumna Award from the University of the East where she graduated Cum Laude. She is also a CPA Board placer.

Designation
Chairperson, Audit Committee
Member, Corporate Governance Committee

Positions in other Reporting Companies
Currently no directorships in other reporting companies.

Board Attendance: 100%; 8 of 8 meetings
Date of First Appointment: April 2016
No. of years on the Board: 6 Years
Other Information: No legal dispute in the past five (5) years; No conflict of interest transactions in the past year.

Alfredo E. Pascual

Lead Independent Director

73 Years Old

Alfredo E. Pascual is the Lead Independent Director of SMIC. He was the President and CEO of the Institute of Corporate Directors (ICD) in 2018 and 2019. From 2011 to 2017, he led the University of the Philippines (UP) System as President and Board Co-Chair. Before UP, Mr. Pascual worked at the Asian Development Bank (ADB) for 19 years in several positions, including Director for Private Sector Operations, Director for Infrastructure Finance, and Advisor for Public-Private Partnership (Infrastructure Development). At ADB, he had postings in India and Indonesia and held board directorships at ADB’s investee companies in China, India, and the Philippines. Mr. Pascual was a finance professor at the Asian Institute of Management (AIM). Currently, he is an independent director at other publicly-listed companies and a trustee at nonprofits and other organizations. He is the President of the Management Association of the Philippines (MAP) and the global Association of Former Employees of ADB (AFE-ADB). He finished his MBA and BS in Chemistry (cum laude) from UP.

Designation
Chairman, Corporate Governance Committee
Chairman, Related Party Transactions Committee
Member, Audit Committee
Member, Compensation Committee
Member, Risk Management Committee

Positions in other Reporting Companies
Megawide Construction Corporation – Independent Director
Asiabest Group International Inc. – Independent Director
Concepcion Industrial Corporation – Independent Director

Board Attendance: 100%; 8 of 8 meetings
Date of First Appointment: April 2017
No. of years on the Board: 5 Years
Other Information: No legal dispute in the past five (5) years; No conflict of interest transactions in the past year.

Robert G. Vergara

Independent Director

61 Years Old

Robert G. Vergara is an Independent Director of SMIC. He was recently appointed as an Independent Director of Metro Pacific Hospital Holdings, Inc. (MPHHI). He is currently the President of Vergara Advisory Management, Inc. founded in May 2018. He also sits as an Independent Director of STI Education Systems Holdings. Inc. since July 27, 2017. From September 2010 to October 2016, he served as the President and General Manager, and Vice-Chairman of the Board of Trustees of the Government Service Insurance System (GSIS). As President and General Manager of GSIS, Mr. Vergara also served as Vice Chairman and Director of National Reinsurance Corporation of the Philippines, Manila Hotel Corporation, and Member of the Board of Directors of Philippine Stock Exchange, Philippine Health Insurance Corporation, Philippine National Construction Corporation, and Housing and Urban Development Coordinating Council. Before that, he was the Managing Director and Founding Partner of Cannizaro (Hong Kong) Limited from October 2006 to September 2010. From 2002 to 2006, he was a Director of Lionhart (Hong Kong) Ltd. He was a Principal in Morgan Stanley Asia Ltd. from 1997-2001 and served as the Managing Director of IFM Asia Ltd. from 1990 to 1997. He obtained his Master in Business Administration from Harvard Graduate School of Business Administration. He graduated magna cum laude from Ateneo De Manila University with Bachelor of Science degrees in Management Engineering and Mathematics.

Designation
Chairperson, Risk Management Committee
Member, Corporate Governance Committee
Member, Related Party Transactions Committee

Positions in other Reporting Companies
Metro Pacific Hospital Holdings, Inc. – Independent Director
STI Education Systems Holdings, Inc. – Independent Director

Board Attendance: 100%; 8 of 8 Meetings
Date of First Appointment: April 2019
No. of years on the Board: 3 years
Other information: No legal dispute in the past five (5) years; No conflict of interest transactions in the past year.