THE board of listed Centro Escolar University (CEU) approved the recommendation for the nomination of two independent directors as part of bolstering the company’s leadership structure.
In a stock exchange disclosure on Monday, CEU said its board approved the report of the nomination committee on Sept. 29, which provided the recommendation of national scientist and former University of the Philippines president Emil Q. Javier and Lope M. Yuvienco as nominees for independent directors.
Mr. Javier served as an independent director since 2012.
“The personal qualifications of both Dr. Javier as well as his experience in the field of education is crucial for CEU,” the company said.
“The prevailing conditions of the education sector require the guidance of Dr. Javier who is already familiar with the peculiar circumstances of the university,” it added.
According to CEU, the nomination and engagement of Mr. Javier as independent director will be presented for stockholders’ approval during the annual stockholders meeting on Oct. 27.
Meanwhile, the company said Mr. Yuvienco became a member of the board of directors on March 21.
He was a former independent director of AXA Philippines and ORIX Metro Leasing Corp., director for regulatory and government sector of Buenaventura Echauz & Partners, and former vice-president of Citibank N.A., Manila
Mr. Javier and Mr. Yuvienco will join the other nominees for directors, namely: Basilio C. Yap, Ma. Cristina D. Padolina, Benjamin C. Yap, Alejandro C. Dizon, Emilio C. Yap, Maria Corazon M. Tiongco, and Johnny C. Yap.
Shares of CEU at the local bourse were last traded on Sept. 29, when it closed at P8.20 apiece. — Revin Mikhael D. Ochave
