Media giant ABS-CBN once again cited as one of the top organizations in the Philippines after being the only media network awarded by the Institute of Corporate Directors (ICD) for outstanding corporate governance.
ABS-CBN chief financial officer Aldrin Cerrado accepted the trophy for the Kapamilya network at the recent ASEAN Corporate Governance Scorecard (ACGS) Recognition Ceremony, where companies that are well-managed and compliant with government regulations are honored.
Cerrado emphasized the importance of embracing and promoting a culture of good governance in the continued success of the 65-year-old media and entertainment company.
“We recognize in ABS-CBN that to be able to fulfill our mission of being in the service of the Filipino, we have to retain the trust of our stakeholders and remain attractive to investors. It is very important that the company is run well to ensure our long term success. We have been able to do that through corporate governance and compliance practices that are aligned with the standards promoted by the ICD,” he explained.
Joining ABS-CBN among this year’s awardees are other companies under the Lopez Group, namely the Lopez Holdings Corporation and First Gen Corporation.
A non-stock, not-for-profit organization dedicated to the professionalization of Philippine corporate directorship, the ICD aims to raise the level of corporate governance policy and practice to be at par with the best in the world.
It assesses publicly listed companies like ABS-CBN in terms of their policies and practices on the rights and role of shareholders, responsibilities of the Board, disclosure, and transparency, among others, and awards the outstanding ones with the ACGS recognition trophy.