OVERVIEW

Governance at CIC

Concepcion Industrial Corporation (“CIC” or the “Company”) and the CIC group of companies (the “Group”) believe that the key to long-term sustainability and success largely depends on having a good name and solid reputation in the market place. Thus, the business and operations of the Company and the Group will be conducted in accordance with the principles and best practices of good corporate governance.

 

As a publicly listed company, the Board of Directors has formally adopted a Corporate Governance Manual (the “Manual”) that incorporates the established governance policies and practices in accordance with applicable laws, rules and regulations, including the Code of Corporate Governance for Publicly Listed Companies. The amended Manual was approved and adopted by the Board of Directors on February 12, 2020 to incorporate current regulations. Through this Manual, the Board of Directors of the Company (“Board”) aims to promote adherence and further strengthen the Group’s commitment to good corporate governance.

 

The Philippine Revised Corporation Code (the “Corporation Code”) lays down the basic legal framework for corporate governance of every Philippine corporation.

It is supplemented by the Securities Regulation Code or Republic Act No. 8799 (the “SRC”), the rules issued by the Securities and Exchange Commission (“SEC” or “Commission”) to implement Republic Act 8799 and the Code of Corporate Governance for Publicly Listed Companies or SEC Memorandum Circular No. 19, Series of 2016 ( the “CG Code”), this Manual, and the charters of the Board Committees. All terms defined herein shall have the definitions given in the rules implementing Republic Act 8799.

oversight approval

The Board, Management and staff hereby acknowledge that this Manual will be their guide to principled actions and responsible conduct. Through a cascade program, the Manual will be implemented for the entire Company, its subsidiary and affiliate companies for compliance.

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OVERVIEW

Governance Structure

The Company supports the principle and regulatory mandate of check and balances across the entire Group by its observance of the segregation of powers, independence of audit, compliance and risk management functions. In the context of good governance, the Company’s Corporate Governance Manual defines the roles and responsibilities of the Board and Key Management Officers of the Company, through which the Company shall implement good governance practices.

Board Committees
GOVERNANCE AT CIC

The CIC Corporate Governance Manual

The corporate governance manual was amended on February 12, 2020. Inside the manual, there is a brief description of the company, the board of directors, key management, officers, and etc. The document discloses all necessary information about how the company is currently being run and who are running it.

Download Manual
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