2016 ANNUAL REPORT
OSCAR M. LOPEZ, born April 19, 1930, Filipino, was First Gen’s Chairman since the company’s incorporation in December 1998 until January 2010, when the Board of Directors elected him Chairman Emeritus. He is also Chairman Emeritus of publicly listed companies First Philippines Holdings Corporation (FPH), Energy Development Corporation (EDC), and Rockwell Land Corporation (Rockwell Land). He sits on the boards of publicly listed companies Lopez Holdings Corporation (formerly Benpres Holdings Corporation) (Lopez Holdings) and ABS-CBN Corporation. Mr. Lopez was conferred the degrees of Doctor of Humanities honoris causa by the De La Salle and Ateneo de Manila Universities (2010), and Doctor of Laws honoris causa by the Philippine Women’s University (2009) and University of the Philippines (2012). He has a Master’s degree in Public Administration from the Littauer School of Public Administration, Harvard University (1955). Mr. Lopez also earned his Bachelor of Arts (BA) degree from Harvard (cum laude, 1951).
FEDERICO R. LOPEZ, born August 5, 1961, Filipino, has been a member of the board since December 1998. He is Chairman and Chief Executive Officer (CEO) of publicly- listed companies First Gen, FPH, and EDC. He is a Director of ABS-CBN Corporation and Vice Chairman of Rockwell Land, both of which are listed companies. He is also the Treasurer of Lopez Holdings. Mr. Lopez is Chairman of the Board of Trustees of the Oscar M. Lopez Center for Climate Change Adaptation and Disaster Risk Management Foundation, as well as the Sikat Solar Challenge Foundation. He is a member of the Board of Trustees of the Philippine Tropical Forest Conservation Foundation, World Wide Fund for Nature - Philippines, and Philippine Disaster Resilience Foundation. He is a member of the World Presidents’ Organization, Asia Business Council, and the ASEAN Business Club. He is also President of Ang Misyon, Inc. and a member of the International Advisory Board of the New York Philharmonic. Mr. Lopez is a graduate of the University of Pennsylvania, with a Bachelor of Arts (BA) in Economics and International Relations (cum laude, 1983).
FRANCIS GILES B. PUNO, born September 1, 1964, Filipino, was first elected to the Board in August 2005. He is President and Chief Operating Officer (COO) of First Gen. In October 2015, he assumed the position of President and COO of FPH, where he previously held the posts of Executive Vice President (EVP), Chief Finance Officer (CFO), and Treasurer. He sits on the boards of publicly-listed companies FPH, EDC, and Rockwell Land. Mr. Puno has a Master’s degree in Management from the Kellogg Graduate School of Management of Northwestern University (1990) and a Bachelor of Science (BS) degree in Business Management from the Ateneo de Manila University (1985).
RICHARD B. TANTOCO, born October 2, 1966, Filipino, has been a Director since August 2005. He is a Director and Executive Vice President (EVP) of First Gen, EVP of FPH, as well as President and COO of EDC, each of which is a listed company. Mr. Tantoco has a Master of Business Administration (MBA) degree in Finance from the Wharton School of Business of the University of Pennsylvania (1993), and a Bachelor of Science (BS) in Business Management from Ateneo de Manila University (honors, 1988).
PETER D. GARRUCHO, JR., born May 4, 1944, Filipino, has been a member of the Board since the company’s incorporation in December 1998. He sits on the boards of publicly-listed companies FPH and EDC. Until his retirement in January 2008 as FPH’s Managing Director for Energy, Mr. Garrucho held the positions of Vice Chairman and CEO of the company. Mr. Garrucho has an AB-BSBA degree from the De La Salle University (1966) and an MBA from Stanford University (1971).
TONY TAN CAKTIONG, born January 5, 1953, Filipino, has been an Independent Director of the company since April 2005. He is the Chairman and Founder of Jollibee Foods Corporation and Co-Chairman of DoubleDragon Properties Corp., both of which are publicly-listed companies. He is at the helm of Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, and the Burger King franchise in the Philippines, along with Yonghe King, Hong Zhuang Yuan, and the Dunkin Donuts franchise in China. He is also a Director in the joint venture with the SuperFoods Group - owner of Highlands Coffee (with stores in Vietnam and the Philippines), Pho 24 (with stores in Vietnam, Indonesia, Cambodia, South Korea, and Australia), in 12 Hotpot in the People’s Republic of China, and Smashburger in the United States. He is involved in non-profit work as Chairman of Jollibee Group Foundation and a member of the Board of Trustees of St Luke’s Medical Center and Temasek Foundation International of Singapore. He is an Agora Awardee for Outstanding Marketing Achievement, Asian Institute of Management (AIM) Triple A Alumni Awardee, TOYM Awardee for Entrepreneurship, and a recipient of the World Entrepreneur of the Year award in 2004. Mr. Tan Caktiong has a BS in Chemical Engineering from the University of Santo Tomas (1975) and management tutoring certifications from Harvard University, AIM, the University of Michigan Business School, and Harvard Business School.
EUGENIO L. LOPEZ III, born August 13, 1952, Filipino, was first elected to the Board of Directors in September 2009. He is Chairman of ABS-CBN Corporation, a director of FPH and Rockwell Land, and Vice Chairman of Lopez Holdings, all of which are listed companies. Aside from leading ABS-CBN, he also serves as Chairman of ABS- CBN Lingkod Kapamilya Foundation, Inc., Sky Cable Corporation, and Play Innovations, Inc. Mr. Lopez earned a Bachelor of Arts (BA)degree in Political Science from Bowdoin College (1974), and a Master’s degree in Business Administration from the Harvard Business School (1980).
CIELITO F. HABITO, born April 20, 1953, Filipino, was elected Independent Director of the company in May 2016. An accomplished economist, Dr. Habito is a Professor of Economics at the Ateneo de Manila University and is also Chairman of Brain Trust Inc. and Operation Compassion Philippines. He is an Independent Director of One Wealthy Nation (OWN) Fund, Independent Trustee of BPI Foundation and Manila Water Foundation, Chairman of the Board of Advisers of the TeaM Energy Center for Bridging Leadership-Asian Institute of Management, and Member of the Advisory Committee of the Japan International Cooperation Agency (JICA)-Philippines, the National Advisory Council of WWF Philippines, Council of Advisers of the Philippine Rural Reconstruction Movement, and Board of Trustees of the International Center for Innovation, Transformation and Excellence in Governance (INCITEGov), among others. Dr. Habito is the recipient of numerous awards including the Philippine Legion of Honor (1998), The Outstanding Young Men (TOYM) Award (for Economics) in 1991, Most Outstanding Alumnus of the University of the Philippines- Los Baños (UPLB) in 1993, and the Gawad Lagablab (Outstanding Alumnus Award) of the Philippine Science High School in 1991. He served in the Cabinet of former President Fidel V. Ramos throughout his six-year presidency in 1992-1998 as Secretary of Socioeconomic Planning and Director-General of the National Economic and Development Authority (NEDA). He heads the USAID Trade-Related Assistance for Development (TRADE) Project as Chief of Party (Project Leader). He also writes the twice-weekly column “No Free Lunch” in the Philippine Daily Inquirer. Dr. Habito holds Ph.D. in Economics (1984) and Master of Arts (1981) degrees, both from Harvard University; a Master of Economics degree from the University of New England in Australia (1978); and a Bachelor of Science in Agriculture (Agricultural Economics) degree from the University of the Philippines (1975), where he graduated summa cum laude.
JAIME I. AYALA, born March 24, 1962, Filipino, was elected Independent Director of the company in May 2013. He is the Founder and CEO of Hybrid Social Solutions, a social enterprise focused on empowering rural villages through solar energy. He was recognized as the Schwab Foundation Social Entrepreneur of the Year in 2013 and as the Ernst & Young Entrepreneur of the Year Philippines in 2012. Mr. Ayala was President and CEO of publicly-listed Ayala Land, Inc. and Senior Managing Director of Ayala Corporation. Prior to that, he was a director (global senior partner) at McKinsey & Company, where he played a number of global and regional leadership roles, including head of the firm’s Asian Energy Practice, and President of McKinsey’s Manila office. Mr. Ayala is a member of the National Advisory Council of the World Wide Fund, and a trustee of Stiftung Solarenergie – Solar Energy Foundation and Philippine Tropical Forest Conservation Foundation. He earned his MBA from Harvard Business School (honors, 1988) and completed his undergraduate work in Economics at Princeton University (magna cum laude, 1984).