Lorenzo Shipping Corporation

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Governance

Board of Directors & Executive Officers

The people accountable for how Lorenzo Shipping Corporation is run — and the committees through which the Board exercises oversight.

Board of Directors

The Board

DH

Doris Magsaysay Ho

Chairperson

AM

Antony Louis Marden

Vice-Chairman

RM

Reynold John B. Madamba

President

ME

Michael L. Escaler

Director

DV

Deogracias N. Vistan

Lead Independent Director

RB

Rene J. Buenaventura

Independent Director

VP

Virgilio L. Peña

Independent Director

EB

Edgardo A. Bautista

Adviser to the Board

Executive Officers

Management

AI

Amelita M. Intalan

Treasurer, Chief Finance Officer & Chief Risk Officer

JO

Jay R. Olivarez

SVP – Compliance Officer

MV

Marie Christine Enciso-Villegas

Corporate Secretary & Corporate Information Officer

RR

Ruby Mae F. Reyes

Assistant Corporate Secretary

KD

Katherine M. Dela Cruz

Chief Audit Executive

Biographies

Backgrounds & affiliations

Ms. Doris Magsaysay Ho is the President and CEO of A. Magsaysay, Inc. Magsaysay traces its roots as ship owners and ship managers, but later on expanded into serving the industries of hospitality and tourism, transport and logistics, healthcare, oil and gas and specialized engineering and trade. The company has a network of offices strategically mapped in the Philippines, Indonesia, China, Thailand, Croatia, Greece and Spain.

Guided by its principle of caring for its people, the company has been awarded the Seatrade Asia Award for Education and Training in 2010, the Lloyd’s List Global Training Award in 2011, 2013 and 2014, the ASEAN Business Advisory Council Award for CSR in 2013 and the Intel-AIM CSR Award in 2014.

Ms. Magsaysay Ho is also the Chairman of Lorenzo Shipping Corporation and a Director of Fairmont Shipping Limited. Her affiliations include Trustee of the Makati Business Club, Philippine Member of the APEC Business Advisory Council, Chairman Emeritus of the Philippine Interisland Shipping Association, Director of the Steamship Mutual Underwriting Association, Director of the Executive Board of the World Maritime University, Chairman of The National Corn Competitiveness Group, Chairman of Asia Society Philippine Foundation, Inc., Trustee of Asia Society (New York), Trustee of the Metropolitan Museum Manila, Trustee of The Hague Process on Refugees & Migration, Treasurer and Trustee of First Philippine Conservation, Inc., and member of the World President’s Organization.

Her awards include Asia CEO’s Global Filipino Executive of the Year (2012), the Lloyd’s List Asia Lifetime Achievement Award (2011), The Outstanding Manilan Award (2005) and Ernst & Young Entrepreneur of the Year for Social Responsibility (2004).

Antony Louis Marden has been the Vice Chairman of the Board and the Executive Committee. He has also served as Chairman of the Nomination Committee since June 2006 and a member of the Audit Committee since June 2005. He is the President of FIM Limited and a Director in the following corporations: G.E. Marden & Co., Ltd., Fenwick Shipping Services, Ltd., National Marine Corporation, Clean Oil (HK) Limited, and the NMC Group of Companies. Mr. Marden studied Chinese & Politics at Leeds University and has worked in the shipping business for almost 40 years.

Mr. RJ Madamba was elected as President and Chief Operating Officer of the Company in 2018. He is also Head of Liner for Magsaysay Shipping and Logistics, serving as Chief Operating Officer of NMC Container Lines, Inc. and Roadlink Solutions, Inc. He is also a member of the Executive Committee of Pacific Roadlink Logistics, Inc.

He previously served as Vice President and Chief Operating Officer of the Cold Chain Division of ISOC Holdings, Inc. from 2017 to 2018, and was General Manager of Icebox Logistics Services, Inc. from 2011 to 2017. He was Secretary and Director of the Cold Chain Association of the Philippines from 2015 to 2018. He started his career at American President Lines (APL) from 1996 until 2011, where his last stint was Davao and General Santos Branch Manager.

Mr. Madamba graduated in 1996 with a degree in Management Economics at the Ateneo de Manila University, completed a course in Perishables Transport at the University of California-Davis in 2001, and took MBA units at the University of the Philippines’ College of Business Administration. He graduated class valedictorian of the Dale Carnegie Leadership Training for Managers in 2012. He brings more than 22 years of experience in domestic and international container liner shipping, spanning branch management, freight forwarding, customer service, reefer sales, container yard operations, equipment maintenance and repair, vessel operations, trucking, finance, and customer relationship management.

Mr. Escaler is the President and Chief Executive Officer of All Asian Countertrade, Inc., known as the largest sugar trader in the Philippines, founded in 1994 in partnership with Louis Dreyfus and Nissho-Iwai. He is also Chairman, President and CEO of Pampanga Sugar Development Co., Inc. (PASUDECO), President and CEO of San Fernando Electric Company (SFELPACO), Chairman and CEO of Sweet Crystals Integrated Sugar Mill Corp. and Okeelanta Corporation, and Chairman of Balibago Waterworks Corporation, JSY Transport, Aldrew and Gray Transport, Silver Dragon Transport and Metro Clark Waste Management Inc. He serves as Director of PowerSource Philippines, Inc., Empire Insurance Co., Trinity Insurance Co., Trinity Healthcare Services, Inc., Marcventures Holdings Inc. and Leyte AgriCorp. Mr. Escaler has served on the Board of Lorenzo Shipping Corporation since 2002.

A sugar trader in New York and London from 1974 to 1993, he began his career at Nissho-Iwai of America and later moved to ACLI International, then to Philipp Brothers as Vice-President heading white sugar trading, before starting his own trading company in the Philippines. A Hall of Fame Sprinter for Ateneo de Manila University, where he graduated Cum Laude in Bachelor of Arts in Economics, he obtained his MBA in International Marketing at New York University. A philanthropist, he supports Habitat for Humanity, the Coca-Cola Foundation, the PGH Medical Foundation, Mano Amiga Academy and Productive Internships in Dynamic Enterprise (PRIDE).

Mr. Vistan became a Director of the Company in 2002. He is a respected veteran banker whose last major stint was as President and CEO of Equitable PCI Bank Corporation in 2001–2002. He distinguished himself in the same position at Solidbank Corporation from 1992 to 2000 and as President and Vice-Chairman of the Land Bank of the Philippines from 1986 to 1992. Before that he occupied various senior management positions at Citibank (Manila), where he started his banking career.

Mr. Vistan is an Independent Director of Philippine National Bank, PNB Capital & Investment Corporation and U-Bix Corporation. He serves as Chairman of the U.S.-based PNB International Investments Corporation, PinoyME Foundation and V & A Foods Corporation, and is a member of the Board of Trustees of the Ramon Magsaysay Award Foundation and of the Executive Advisory Council of Mitsubishi Motors Philippines Corporation. He graduated with a double degree in Business Administration and Humanities from De La Salle University and finished his MBA at the Wharton Graduate School of the University of Pennsylvania.

Mr. Rene J. Buenaventura has been the Vice Chairman of the Equicom Group of Companies since 2007. The Equicom Group includes various companies in healthcare, banking and finance and information technology. He is Vice Chairman of Equicom Savings Bank and Algo Leasing and Finance Inc., Director and Executive Committee Member of Maxicare Healthcare Corporation, and Director of Equicom Information Technology Inc. He is a member of the Board of Trustees of the Equitable Foundation, an Independent Director of UBS Investment Phils Inc. and AIG Insurance Phils Inc., and a Director of Strategic Equities Corporation.

He was formerly President of Equitable PCI Bank. He attended the Advance Management Program for Overseas Bankers at the Wharton School, University of Pennsylvania, and finished his MBA and AB-BSC at De La Salle University. He is a Certified Public Accountant.

Mr. Virgilio L. Peña is presently the Chairman of Altius Phils, Inc. and President of Mano Amiga Academy, a school committed to providing high quality K to 12 education to less privileged families. He continues to serve on the Board of Everest Academy Manila, a Catholic international school in Bonifacio Global City owned by the Regnum Christi and the Legionaries of Christ. He is a member of the Board of Trustees and Assistant Treasurer of the Philippine Cancer Society and Chairman of 3Peas in a Pod Inc., a family-owned business in the food industry.

He is a Fellow of the Institute of Corporate Directors and a life member of the Management Association of the Philippines. He is a graduate in Electrical Engineering from California State Polytechnic University, an MBA candidate of the Ateneo de Manila Graduate School of Business, and completed the International Executive Program of Columbia University.

Mr. Bautista was nominated as an Independent Director of the Company on April 17, 2008. At present, he is the Vice Chairman and CEO of the CEPALCO Group. He served as Chairman of Acuatico Pte Ltd Singapore and Acuatico Services Vietnam, and was a member of the Management Board of Viwasupco Vietnam and Viwaco Vietnam, and a former member of the Board of Trustees of the AIM Mirant Bridging Leadership Center.

He was a Consultant to the President of San Miguel Corporation from June 2008 to June 2009, and a Commissioner of PT Bakrieland Development Tbk. from April 2007 until February 2009. He was Chairman of EL Paso Philippines Energy Company, Inc. and Director of EPEC Nederland Holding BV and East Asia Utilities Corporation until June 2008. From July 2006 to June 2008 he was Executive Director, Head of Asia Infrastructure Business of Avenue Asia Investments Management, LLC. From January 1997 to December 2005 he was Chief Executive Officer of Mirant Philippines Corporation and its subsidiaries, President of Mirant Philippine Foundation and President and CEO of Mirant Global Corporation. Prior to Mirant he was President and CEO of the Hopewell Group of Companies.

Mr. Bautista graduated Cum Laude from De La Salle College with a degree in Mechanical Engineering. He completed General Electric’s two-year specialized management and technical program and an Advanced Management Program conducted by professors of the Harvard Business School. In 2006 he became a Certified Fellow of the Institute of Independent Directors.

Ms. Intalan is currently the Chief Finance Officer of Lorenzo Shipping Corporation. She was Chief Finance Officer of various companies, including Generali Life Assurance Philippines, Inc. and Philam Plans, Inc., as well as Treasurer and Head of Treasury and Administration of the Philippine American Life & General Insurance Co. (Philam Life), Philam Equitable Life Assurance Corporation (PELAC) and most Philam Life subsidiaries. She was also Assistant Treasurer and Head of Treasury of BPI-Philam Life Assurance Corporation, and a member of the Board of Directors of most Philam Life affiliated companies.

Ms. Intalan obtained her Bachelor of Science in Business Administration & Accountancy from the University of the Philippines Diliman and passed her CPA Licensure Examinations. She was a full scholar of the then European Economic Community for a management in joint venture course conducted by INSEAD.

Mr. Jay R. Olivarez is the elected SVP-Compliance Officer of the Company effective June 18, 2020. He is concurrently the Chief Operating Officer for Corporate Strategy of Magsaysay Shipping and Logistics (MSL), President of NMC Agency and Brokerage, Inc., and sits as Director of various companies of MSL. Prior to his current role, he was Chief Operating Officer of Lorenzo Shipping Corporation, NMC Container Lines, Inc., Onestop Logistics Solutions, Inc. and Roadlink Solutions, Inc.

Mr. Olivarez has 27 years of experience in shipping and logistics, chartering, corporate planning, business development and project studies. He graduated with a Bachelor of Science degree in Industrial Management Engineering with a minor in Mechanical Engineering at De La Salle University, completed the Leadership and Management Development Program at the Ateneo Graduate School of Business, and attended International Shipping Trade Practices in Hong Kong.

Mr. Olivarez also serves as the Company’s Data Protection Officer.

Atty. Enciso-Villegas is Corporate Secretary of the Company, elected in 2020. She is Chief Legal Counsel for A. Magsaysay, Inc., heading the corporate legal department and managing the legal and regulatory affairs of the Magsaysay Group of Companies. She provides legal counsel to the Board of Directors, the Chairman of the Board, the CEO and other senior management leaders.

She started in government at the Office of the Chief Presidential Legal Counsel and Office of the Ombudsman before moving to private practice with the law firm De Borja, Medialdea, Bello and Guevarra, and then with Gerodias Suchianco Estrella Law Firm. She specializes in litigation, labor, taxation, corporate and securities law, and has acted as in-house counsel for private multinational corporations.

She graduated Bachelor of Arts in Political Science and Juris Doctor from the Ateneo de Manila University, and is a Member of the Integrated Bar of the Philippines and a Member and Arbitrator of the Philippine Dispute Resolution Center, Inc. She also serves as the Company’s Investor Relations Officer.

Atty. Reyes is the Assistant Corporate Secretary of the Company, elected in 2021. She is Deputy Legal Counsel for the Magsaysay Group of Companies, assisting in handling corporate legal affairs as well as monitoring regulatory compliance of companies within the group. Atty. Reyes received both the degree of Bachelor of Science major in Legal Management and Juris Doctor from De La Salle University – Manila.

Ms. Katherine M. Dela Cruz holds the position of Internal Audit Head at A. Magsaysay Inc. Prior to her appointment she was Audit Manager of A. Magsaysay Inc., in charge of providing audit services to LSC. She started her career with LSC in 2008 as Audit Officer and became Internal Audit Manager in 2009. In 2015 she took on an expanded role as Internal Audit Manager for Magsaysay Transport and Logistics.

Before joining LSC she was Controls and Compliance Supervisor at Shell Shared Services Center and Audit Supervisor at Zuellig Pharma Corporation from 2000 to 2008. Ms. Dela Cruz graduated from Pamantasan ng Lungsod ng Maynila with a degree in Bachelor of Science in Accountancy. She is a Certified Public Accountant and a member of the Philippine Institute of Certified Public Accountants (PICPA) and the Institute of Internal Auditors (IIA).

Board Committees

How the Board exercises oversight

Audit Committee

Chairman: Dir. Deogracias N. Vistan (Independent Director)

Members: Dir. Rene J. Buenaventura (Independent Director), Dir. Antony Louis Marden, Dir. Michael L. Escaler

Corporate Governance Committee

Chairman: Dir. Rene J. Buenaventura (Independent Director)

Members: Dir. Deogracias N. Vistan (Independent Director), Dir. Antony Louis Marden, Dir. Michael L. Escaler

Board Risk Oversight Committee

Chairman: Dir. Michael L. Escaler

Members: Dir. Deogracias N. Vistan (Independent Director), Dir. Rene J. Buenaventura (Independent Director), Dir. Antony Louis Marden

Related Party Transactions Committee

Chairman: Vacant to date — the Board is reserving the position for whoever becomes the third Independent Director of the LSC governing board.

Members: Dir. Deogracias N. Vistan (Independent Director), Dir. Rene J. Buenaventura (Independent Director), Dir. Antony Louis Marden, Dir. Michael L. Escaler

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