|Succession Planning and Remuneration Policy||The Company shall ensure its continued effective performance and sustained growth through leadership continuity for the benefit of all its stakeholders.
The objectives of the Succession Planning Programme are:
1. To identify and nominate suitable candidates for the Board’s approval to fill the vacancies that arise from time to time.
2. To identify the competency requirements of critical and key positions, assess potential candidates and develop required competency through planned developments and learning initiatives.
3. To identify the key job incumbents in Senior Managerial positions and recommend whether the concerned individual may be granted an extension of term/service, or be replaced with an identified internal or external candidate or there is a need to recruit suitable candidate/s.
4. To ensure the systematic and long-term development of individuals in the senior management level as ready replacement when the need arises due to deaths, disabilities, retirements and other unexpected occurrence.
|Directors, Officers, Stockholders and Related Interests (DOSRI)
Board Diversity Policy
|The dealings of the Company with any of its Directors, Officers, Stockholders and Related Interests (DOSRI) and Related Parties shall be in the regular course of business and upon terms not less favorable to the Company than those offered to others. Related Party Transactions (RPTs) are generally allowed, provided they are done on an arm’s length basis.
The Company recognizes the benefits of having a diverse Board and its value in maintaining sound corporate governance while achieving strategic objectives and sustainable growth.
The Board Diversity Policy (“the Policy”) establishes the approach to realize diversity of Board membership on an on-going basis.
The Policy applies to the Board of Directors. It does not apply to diversity in relation to employees of Company, which is covered by the internal guidelines of the Company’s Human Resources Department.
|Board Nomination and Election Policy
|The Board recognizes the importance of having a qualified and competent Board to achieve Company objectives as well as to protect the interest of all its stakeholders and shall ensure that proper nomination and election process is in place to attain this.
The objective of this policy is to institute policy and process for the nomination and election of the Board of Directors. The Policy applies to the nomination and election of the Board of Directors.
Members of the Board conduct collective and individual annual assessment of the Board performance through a Board Assessment Review initiated by the Corporate Governance Committee. Results of the Board and Committee Assessments are presented to the Board Corporate Governance Committee and circulated to the Board for their feedback and confirmation.
Copies of the Assessment Forms can be accessed by clicking on the following download links:
|Whistle Blowing||The Company is committed to conduct business according to the highest ethical and legal standards. In line with this commitment, we encourage employees and business partners to raise concerns about any aspect of the business partners to raise concerns about any aspect of the business operation.
The objectives of this policy are the following:
Board Nomination and Election Policy
2. Reports must be sent in a sealed envelope clearly marked Strictly Private and Confidential: To Be Opened by Addressee Only
|Conflict of Interest||The Company’s Code of Business Conduct and Conflicts of Interest Policy require employees to make a conscious effort to avoid conflict of interest situations; that his judgment and discretion is not influenced by considerations of personal gain or benefit.|
|Material Related Party Transactions Policy||The Company shall conduct all Material Related Party Transactions (MRPT) on an arm’s length basis, on fair and reasonable terms and conditions no less favorable than any such terms available to unrelated third parties under the same or similar circumstances.
The purpose of this policy is to protect the Company from conflict of interest by instituting the proper review, approval and reporting of transactions which may be entered in to between or among the Company or any of its subsidiaries, associates, affiliates, joint venture, directors and officers.
This policy shall cover the review, approval and reporting of transactions which may be entered into between or among the Company or any of its subsidiaries, associates, affiliates, joint venture, directors and officers and the general guidelines to be observed in relation to MRPTs.
|Insider Trading Policy||The Company observes strict compliance with the Exchange’s Trading Rules and Restrictions, emphasizing the need for transparency and fairness in its transactions in order to fully apprise its investors of its current activities The Company is guided by, observes and complies with provisions of the Securities Regulation Code (RA Act No. 8799) with regards to the Prohibition on Fraud, Manipulation and Insider Trading.
The Company complies with the provisions of law set forth in the Securities Regulations Code and shall implement policies and procedures to prevent the unauthorized disclosure or misuse of material, non-public information in securities trading to preserve the reputation and integrity of the Company.
|Stakeholders Health, Safety and Welfare|
|Stakeholders||The Company is committed to undertake all reasonable steps to ensure the health, safety and welfare for the best interest of our stakeholders and the communities where we live and work by complying with the provisions of law, industry rules and regulations, standards of independent accreditation bodies where the Company obtained accreditation, and contractual obligations.
This policy aims to:
1. Provide a guiding principle to ensure health, safety and welfare of the Company’s stakeholder.
This policy shall define the guiding principles and responsibilities for managing health, safety and welfare of the stakeholders of JG Summit Holdings, Inc. (JGSHI), its subsidiaries and affiliates.
|Employees||The Company abides by safety, health, and welfare standards and policies set by the Department of Labor and Employment. Likewise, the Company has Security and Safety Manuals that are implemented and regularly reviewed to ensure the security, safety, health, and welfare of the employees in the work place.
To ensure that the employees of the Company maintain a healthy balance between work and life, health and wellness programs are organized for these employees. Professionals are invited to conduct classes of Zumba, Tai Chi, and other activities in our work site. The Company has also partnered with fitness gyms to offer special membership rates to employees. This is in addition to the free use of gym facilities in the different installations.
Year on year, the Company has facilitated vaccinations such as against flu and cervical cancer that are offered not only to employees but to their dependents as well. The Company has worked with healthcare providers in identifying top diseases based on utilization report and has invited resource speakers to talk about preventive measures.
To ensure the safety of the Company’s employees, a Corporate Emergency Response Team (CERT) has been created that will be activated and will become the “command center”, orchestrating initiatives across the conglomerate during a crisis. Also, the CERT shall be responsible for the periodic review of contingency plans and the institution’s emergency preparedness and response procedures to ensure that effective responses and responsible policies are in place to deal with crisis or emergency situations.
Company Trainings and Development Programs for Employees
The Company continuously provides learning and development opportunities for its employees through the John Gokongwei Institute for Leadership and Enterprise Development or what is commonly known as JG-ILED.
JG-ILED is the leadership platform for systematic and sustained development programs across the conglomerate. Its mission is to enable a high performing organization that will facilitate the learning process and develop the intellectual and personal growth of all employees through targeted and customized trainings and development programs.
JG-ILED curriculum comprises of the following:
Core Program – programs designed to ensure employees have the foundation needed to perform job effectively. It also covers key people skills training that will help supervisors and managers in leading their teams to perform to the optimum level.
Management Development Program – programs that aims to enhance the leadership capability and business acumen of all leaders
Human Resources Development Program – courses designed to ensure employees have a common understanding of the HR processes and systems by which the Company operates.
|Creditors||The Company upholds creditors’ right by honoring contracted obligations and providing information required under the Revised Disclosure Rules and the Securities Regulation Code, if applicable, audited financial statements prepared compliant with applicable financial reporting standards, and other periodic reports compliant with the provisions of law, loan covenants and other regulatory requirements.
This policy aims to:
1. Provide the guiding principles to ensure protection of creditors’ rights.
This policy shall cover the documentation, reporting and disclosure requirements to promote transparency for the protection of the rights of creditors of JG Summit Holdings, Inc. (JGSHI), its subsidiaries and affiliates.
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