MANILA, Philippines – Globe Telecom bagged the Bell Awards for Corporate Governance at the Philippine Stock Exchange (PSE) Bell Awards in recognition of the company’s commitment in upholding principles and best practices in governance.
“It is an honor to be given yet another distinct recognition for the company’s continuing efforts in subscribing to the principles of good corporate governance,” Globe President and CEO Ernest Cu said.
“This further strengthens our resolve to promote accountability, transparency, fairness and professionalism within Globe, which we believe, helped lead the company to be stronger and a robust organization that it is today.”
It is Globe’s second time in four years to receive the Bell Award for Corporate Governance. Globe first received it in 2012 when the PSE Bell Awards was first introduced. The telecommunications company is also one of the Top 10 publicly-listed companies in 2013 and 2014.
Globe’s excellence in corporate governance had also been recognized at the ASEAN Capital Markets Forum (ACMF) where Globe was one of the top three local companies or top 50 ASEAN companies in corporate governance.
In June last year, Globe also earned a Best in Corporate Governance citation from Finance Asia based on a survey involving over 250 portfolio managers and buy-side analysts from around the world on their opinions on Asian-listed companies.
The PSE Bell Awards for corporate governance aims to help address the need for better transparency, investor protection, and corporate social responsibility among the participants in the Philippine capital market by recognizing listed companies and securities firms that adhere to outstanding corporate governance principles and practices.
The criteria and mechanics of the Bell Awards involve a rigorous evaluation by the PSE based on the company's compliance with the rules and regulations of the PSE, SEC and other pertinent regulatory agencies as well as the corporate governance guidelines survey established by the PSE. An independent panel of judges, composed of industry experts and advocates, selects the finalists and awardees. Ten listed companies will be shortlisted from which five will be chosen as awardees.
Corporate governance refers to the legal and factual regulatory framework for managing and supervising a corporation. It encompasses all the systems and mechanisms of shareholders and other stakeholders to ensure that management enhances the value of a corporation as it competes in an increasingly global market place.
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