Century Pacific Food Inc., one of the leading food and beverage manufacturing companies in the Philippines, elected new members to its board to fill three vacated seats.The newly-elected board members are investment banker Stephen CuUnjieng, PJS Law chief executive officer Regina Jacinto-Barrientos, and former Cargill Philippines chairman and president Philip Soliven.
Three of the nine board seats were vacated by long-time independent directors, Fernan Lukban and Johnip Cua, and Century Pacific late founder and chairman emeritus Ricardo Po. Lukban and CUA have both served the maximum nine-year term for independent directors, starting the company’s initial public offering in 2014.
Lukban was lead independent director and chairman of the audit committee while Cua headed the corporate governance and sustainability committee.
CuUnjieng, former chairman and chief executive officer of Evercore Asia Ltd. And vice chairman of Macquarie ASEAN, will head the corporate governance and sustainability committee while Soliven, a seasoned banker who also serves on the board of Metropolitan Bank and Trust Co., will lead the audit committee.
Christopher Po, Executive Chairman of CNPF, said, “Century Pacific has come a long way under the guiding wisdom of Fernan and Johnip. We have weathered many storms and celebrated milestones these past few years. I am deeply grateful for their service and the immense contribution they have made to Century Pacific,” said Christopher Po, executive chairman of the listed company.
Frances Yu will take the helm as lead independent director, keeping her post as the chair of the Related Party Transactions Committee.
Yu was previously the chief retail strategist of Mansmith and Fielders, Inc., the vice president and business unit head of Rustan’s Supermarket, and the vice president and head of Marketing Operations for Rustan’s Supercenters, Inc. This is her fifth term as an Independent Director at CNPF.
Gina Lorenzana, who is on her third term as an independent director, will continue to serve as the chairman of the Board Risk Oversight Committee. Lorenzana is the former Global Vice President of Unilever’s Global HomeCare Division, leading Fabric Care & Fashion. She spent over 20 years in Unilever Beauty and Personal Care, in a variety of senior executive roles in Asia, Africa, Middle East, Indonesia, China, and the Philippines.
