EDC gets gold in corporate governance

For the third time in a row, Energy Development Corporation (EDC), the country’s largest producer of geothermal energy, made it to the elite list of corporations that ranked high in corporate governance.  EDC is among the gold awardees scoring 95 percent and above in the 2009 corporate governance scorecard, topping its previous year’s silver award.  The Institute of Corporate Directors (ICD) in partnership with the Securities and Exchange Commission, Philippine Stock Exchange, Institute of Internal Auditors of the Philippines, Ateneo Law School, and Center for International Private Enterprise conducted the evaluation in order to assess the compliance levels of Philippine corporations.  Shown from L-R are ICD Chairman Dr. Jesus Estanislao, EDC Director Vince Perez, EDC Vice Chairman and CEO Paul Aquino, EDC Chairman Oscar Lopez, EDC President & COO Richard Tantoco, SEC Commissioner Manuel Gaite and Ateneo Law School Dean Cesar Villanueva.