PSE reelects Pardo, entire board

MANILA, Philippines—The Philippine Stock Exchange on Saturday reelected for a second term its 15-member board led by chair Jose Pardo, who expects “more exciting” days for the exchange this year.

In a press briefing after the stockholders’ meeting, Pardo announced that all remaining 15 nominees to the board—all incumbent—had received a fresh mandate from the shareholders.

“We have a working team that’s already in place and we feel it will move faster if it’s the same group on the exchange,” Pardo said, when asked how the directors felt about not having new faces on the board.

There were originally three new candidates aspiring for seats on the board representing the Fund Managers Association of the Philippines (Paul Joseph Garcia and Marvin Fausto) and Investment Houses Association of the Philippines (Robert Atendido), but all of them backed out days before yesterday’s election.

Reelected with Pardo and president Hans Sicat were brokers Emmanuel Bautista (Deutsche Regis Partners), Eddie Gobing (Lucky Securities), Alejandro Yu (RS Lim & Co.), Francis Chua (BA Securities), Eusebio Tanco (Venture Securities), Vivian Yuchengco (The First Management and Securities Corp.) and David Chua (Asia Pacific Capital Equities and Securities Corp.)

Reelected as nonbroker members were Amor Iliscupidez (San Miguel Corp. Retirement Plan), Roberto Vergara (Government Service Insurance System), Anabelle Chua (Philippine Long Distance Telephone Co.), Edgardo Lacson (Philippine Chamber of Commerce and Industry) and independent directors Dakila Fonacier and Cornelio Peralta. Doris C. Dumlao