Board Committees
Prime Infra established Board Committees to respectively focus on specific functions of the Board. This shall lend support for the effective and optimal performance by the Board, particularly, in the areas of audit, risk management, related party transactions and other key corporate governance concerns.
Audit and Risk Committee
The Audit and Risk Committee counts among their responsibilities overseeing of the organization’s financial reporting process, system of internal control, audit process and monitoring of compliance with applicable laws, rules and regulations. The committee is composed of three directors, the majority of which are independent directors. The committee members are:
- Danilo S. Feliciano (Independent Director) – Chairman
- Panfilo M. Lacson (Independent Director)
- Stephen A. Paradies
Nominations and Corporate Governance Committee
The Nominations and Corporate Governance Committee is responsible for reviewing and evaluating the qualifications of all persons nominated to the Board and other appointments that require Board approval, and to assess the effectiveness of the Board’s processes and procedures in the election or replacement of directors. The committee is also responsible in assisting the Board in the performance of their corporate governance responsibilities. The committee members are:
- Panfilo M. Lacson (Independent Director) – Chairman
- Rafael D. Consing, Jr.
- Christian R. Gonzalez
Related Party Transactions Committee
The Related Party Transaction (RPT) Committee, which shall be composed of at least three non-executive directors is responsible for reviewing the integrity and transparency of related party transactions based on PICI’s RPT policy. The material or significant RPTs reviewed and approved during the year shall be disclosed in PICI’s Annual Corporate Governance Report. The committee members are:
- Panfilo M. Lacson (Independent Director) – Chairman
- Danilo S. Feliciano (Independent Director)
- Stephen A. Paradies