10 months PH’s old boards come under scrutiny Manilatimes |Biz
BEN KRITZTHE Philippines has a new claim to fame—corporate directors here are apparently the longest-serving in Asia-Pacific, and possibly the world, and have a higher average age than board members elsewhere in Southeast Asia. According to research by Bloomberg, the average board tenure in Philippine corporations is 10.6 years, compared with an average of 6.5 years in the rest of Asia-Pacific, and the average age of board members is 65.4 years, compared with the regional average of 58.7 years. Moreover, six out of 10 Philippine corporations do not meet the Securities and Exchange Commission (SEC)-mandated minimum of having at ... more