Board of Directors

Board of Directors

The Energy and Infrastructure Group (EIG) of Ayala Corporation is the conglomerate's platform for its investments in energy and transportation infrastructure. EIG is comprised of AC Energy, Inc. (AC Energy) and AC Infrastructure Holdings Corp. (AC Infra). With the country facing a significant infrastructure gap and the clear need for private sector participation, Ayala established EIG in 2011 and committed to invest $1 billion of equity over five years. As such, Ayala actively invests in both greenfield and brownfield projects, and is an active participant in the government's Public Private Partnership (PPP) initiative.

Board of Directors

AC Energy
Fernando Zobel de Ayala

Fernando Zobel de Ayala

Filipino, Director of Ayala Corporation since May 1994. He is the President and Chief Operating Officer of Ayala Corporation since April 2006. He holds the following positions in publicly-listed companies: Chairman of Ayala Land, Inc. and Manila Water Company, Inc.; and Director of Bank of The Philippine Islands, Globe Telecom, Inc. and Integrated Micro-Electronics, Inc.; and Independent Director of Pilipinas Shell Petroleum Corporation. He is the Chairman of AC International Finance Ltd., Ayala International Holdings Limited, Accendo Commercial Corporation, Alabang Commercial Corporation, Automobile Central Enterprises, Inc., AC Industrial Technology Holdings, Inc., Liontide Holdings, Inc., AC Energy, Inc., Ayala Healthcare Holdings, Inc. and Hero Foundation, Inc.; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Vice Chairman of Ceci Realty, Inc., Vesta Property Holdings, Inc., Aurora Properties, Inc., Columbus Holdings, Inc. Emerging City Holdings, Inc., Fort Bonifacio Development Corporation, and Bonifacio Land Corporation; Director of LiveIt Investments, Ltd., Asiacom Philippines, Inc., AG Holdings Limited, Ayala International Holdings Limited, AI North America, Inc., AC Infrastructure Holdings Corporation, Ayala Retirement Fund Holdings, Inc., Honda Cars Philippines, Inc., Isuzu Philippines Corporation, Manila Peninsula and Habitat for Humanity International; Member of the INSEAD East Asia Council, World Presidents’ Organization, Habitat for Humanity International, Asia Philanthropy Circle, TATE Asia Pacific Acquisitions Committee and The Metropolitan Internal Council; Chairman of Habitat for Humanity’s Asia-Pacific Capital Campaign Steering Committee; and Member of the Board of Trustees of Caritas Manila, Pilipinas Shell Foundation, National Museum, Asia Society . He graduated with B.A. Liberal Arts from Harvard College in 1982 and holds a CIM from INSEAD, France.

Jaime Augusto Zobel de Ayala

Jaime Augusto Zobel de Ayala

Filipino, Director of Ayala Corporation since May 1987. He is the Chairman and CEO of Ayala Corporation since April 2006. He holds the following positions in publicly-listed companies: Chairman of Globe Telecom, Inc., Integrated Micro-Electronics, Inc., and Bank of the Philippine Islands; and Vice Chairman of Ayala Land, Inc. and Manila Water Company, Inc. He is also the Chairman of Ayala Education, Ayala Retirement Fund Holdings, Inc., Asiacom Philippines, Inc., and AC Industrial Technology Holdings, Inc,; Co-Chairman of Ayala Foundation, Inc. and Ayala Group Club, Inc.; Director of Alabang Commercial Corporation, Ayala International Pte. Ltd., AC Energy, Inc., Ayala Healthcare Holdings, Inc., LiveIt Investments Limited, AI North America, Inc., and AG Holdings Limited; Chairman of the Harvard Business School Asia-Pacific Advisory Board; and member of the Harvard Global Advisory Council, Mitsubishi Corporation International Advisory Committee, JP Morgan International Council, and Endeavor Philippines. He was the Philippine Representative to the Asia Pacific Economic Cooperation (APEC) Business Advisory Council until December 2015. He graduated with a B.A. in Economics
(Cum Laude) from Harvard College in 1981 and obtained an MBA from the Harvard Graduate School of Business Administration in 1987. In 2007, he received the Harvard Business School Alumni Achievement Award, the school’s highest recognition. He was a recipient of the Presidential Medal of Merit in 2009 for enhancing the prestige and honor of the Philippines both at home and abroad. In 2010, he was bestowed the Philippine Legion of Honor, with rank of Grand Commander, by the President of the Philippines in recognition of his outstanding public service. In 2015, he received the Order of Mabini, with rank of Commander, for his vital contributions during the Philippines’ hosting of the Asia Pacific Economic Cooperation (APEC) Summit.

Gerardo Ablaza Jr.

Gerardo C. Ablaza, Jr.

Filipino, served as President and CEO of Manila Water Company from June 2010 to April 2017. Gerry was responsible for overseeing the financial and operational growth within Manila Water’s service areas in the Metro Manila East Zone and in its expansion areas.

Gerry holds key positions in the Philippines’ longest running conglomerate, Ayala Corporation, and its various subsidiaries. He is currently a Senior Managing Director at the Ayala Corporation and a member of the Ayala Group Management Committee since 1998.

From 1998 to April 2009, Gerry was President and CEO of Globe Telecom, Inc. During this period, he took the company from being the fourth-ranked mobile services provider to the second-largest full-service telecom operator with a subscriber base of 25 million in 2008.

In 2004 he was recognized by CNBC as the Asia Business Leader of the Year, making him the first Filipino CEO to win the award. He was also awarded by Telecom Asia as the Best Asian Telecom CEO. In 2013, he was recognized for his consistent leadership and innovation across the banking, investment, telecommunications and utility service industries through the Citi Distinguished Alumni Award for Leadership and Ingenuity. Gerry is the first and only Filipino to be awarded with such an honor.

In June 2015, Gerry became a member of the International Advisory Panel of the Institute for Water Policy under the Lee Kuan Yew School of Public Policy in Singapore.

Eric Francia

Eric T. Francia

Filipino, Managing Director and member of the Management Committee of Ayala Corporation since 2009. He is President and CEO of AC Energy, Inc. In his previous role as Head of Ayala’s Corporate Strategy and Development group, Mr. Francia led Ayala’s entry into energy and transport infrastructure sectors in 2011. Under his leadership, Ayala invested in over 1,000MW of attributable capacity in the energy sector, and secured over $1bn worth of PPP projects in the transport infrastructure space. Mr. Francia is a member of the Board of Directors of Manila Water Company, Inc., AC Energy, Inc., AC Infrastructure Holdings Corporation, Light Rail Manila Holdings, Inc., Ayala Healthcare Holdings, Inc., Ayala Education, Inc., Ayala Aviation Corporation, Ayala Hotels, Inc., HCM City Infrastructure Investment Joint Stock Company (Vietnam), and several other operating companies. He is also a Trustee of the University of Asia and the Pacific Foundation, Inc. Mr. Francia received his undergraduate degree in Humanities and Political Economy from the University of Asia & the Pacific, graduating magna cum laude. He then completed his Masters Degree in Management Studies at the University of Cambridge in the United Kingdom, graduating with First Class Honors.

Rene Almendras

Jose Rene Gregory D. Almendras

Filipino, has experience in both private and public sectors. He currently serves as President & CEO of AC Infrastructure Holdings Corporation (AC Infra). Concurrently, he is Managing Director and Head of Public Affairs and a member of the Ayala Corporation (AC) Management Committee. He also serves as a member of the Board of Directors of the following companies within the Ayala Group: Light Rail Manila Holdings, Inc., MCX Tollway Inc. and AF Payments Inc.

As a public servant in the Philippine government, Rene served in various positions, namely, Secretary of Energy, Cabinet Secretary and Secretary of Foreign Affairs.

Under his leadership, the Department of Energy ranked as one of the Top 10 Performers, in a survey among government agencies on government performance specifically in ensuring integrity in public service. In 2011, he became the co-chair of the high-level discussion on the Long-Term Strategy for the International Renewable Energy Agency (IRENA) held in Abu Dhabi. In the same year, the Philippines became a rotating member of the Executive Board of the International Energy Forum (IEF). Last September 2013, after stepping down as Energy Secretary, Rene was awarded ASEAN Individual Excellence in Energy Management by his fellow Energy Ministers during the 31st ASEAN Ministers on Energy Meeting (AMEM) and ASEAN Energy Awards, which was another 1st for the Philippines.

During his stint as a Cabinet Secretary, he was tasked to effectively integrate and implement the programs of the Aquino Administration and ensure the effective coordination of policies and projects of the different departments and agencies of government. In June 2013, Rene was given the rare privilege of addressing the United Nations Economic and Social Council (ECOSOC) in Geneva and then again in December 2013 for the United Nations’ Special Meeting of the ECOSOC in New York. As Cabinet Secretary, he was responsible for the resolution of major and critical issues such as the Hong Kong 2010 incident crisis, Balintang Channel incident to the Republic of China (Taiwan) and the Manila International Port Congestion.

The first 13 years of his professional life started with the Citibank group, where he started as a management trainee. Landing his first CEO position as the President of City Savings Bank of the Aboitiz Group at the age of 37, he has come to be known for his success in driving the value of the companies he has led, and his craft in honing these companies to garner national and international recognitions and awards. In 2011, he was recognized by the World Economic Forum as the new Sustainability Champion for his efforts as President of Manila Water Company, Inc. He introduced customer service quality improvements resulting to a very high satisfactory rating from the company’s customers. He was instrumental for the expansion and growth of the company beyond the East Zone. During his term, the company was awarded as one of the Best Managed Companies in Asia, the Best in Corporate Governance, one of the Greenest Companies in the Philippines and hailed as the world’s Most Efficient Water Company.

In June 2016, a Presidential Award, Order of Lakandula, Rank of Gold Cross Bayani, highest honor given to a civilian by the Republic of the Philippines, was awarded to him by President Benigno S. Aquino III, for his remarkable performance during the Aquino administration.

Rene believes in servant leadership and aims to lead to serve others. He is a passionate advocate of transformation through people development and personally champions the development programs of the people in his organization.

Solomon Hermosura

Solomon M. Hermosura

Filipino, has served as Managing Director of Ayala Corporation since 1999 and a member of the Ayala Corporation Management Committee since 2009 and the Ayala Group Management Committee since 2010. He is also the Group Head of Corporate Governance, General Counsel, Compliance Officer, and Corporate Secretary of Ayala Corporation. He is the CEO of Ayala Group Legal. He serves as General Counsel and Corporate Secretary of Ayala Land, Inc., and Corporate Secretary of Globe Telecom, Inc., Manila Water Company, Inc., Integrated Micro-Electronics, Inc. and Ayala Foundation, Inc.; and a member of the Board of Directors of a number of companies in the Ayala group. He graduated valedictorian with Bachelor of Laws degree from San Beda College in 1986 and placed third in the 1986 Bar Examination.

Jose Teodoro Limcaoco

Jose Teodoro K. Limcaoco

Filipino, was appointed Chief Finance Officer and Finance Group Head of Ayala Corporation effective April 10, 2015. He is the former President of BPI Family Savings Bank. He is a member of the Board of Directors of AC Energy, Inc.. His prior assignments within the Ayala group include President of BPI Capital Corporation from 2007 to 2010. He was Officer-in-Charge for Ayala Life Assurance, Inc. and Ayala Plans, Inc., Trustee and Treasurer of Ayala Foundation, Inc., President of myAyala.com, and CFO of Azalea Technology Investments, Inc. He graduated with a degree in BS Mathematical Sciences in Stanford University in 1984 and earned his Master’s Degree in Finance from Wharton School University in 1988.

AC Infrastructure

Jaime Augusto Zobel de Ayala

Jaime Augusto Zobel de Ayala

Filipino, Director of Ayala Corporation since May 1987. He is the Chairman and CEO of Ayala Corporation since April 2006. He holds the following positions in publicly listed companies: Chairman of Globe Telecom, Inc., Integrated Micro-Electronics, Inc. and Bank of the Philippine Islands; and Vice Chairman of Ayala land, Inc. and Manila Water Company, Inc. He is also the Co-Chairman of Ayala Foundation, Inc.; Chairman of AC Infrastructure Holdings, Corporation; Director of AC Energy Holdings, Inc.; Chairman of Harvard Business School Asia-Pacific Advisory Board; Vice Chairman of the Makati Business Club, and member of the Harvard Global Advisory Council, Mitsubishi Corporation International Advisory Committee, JP Morgan International Council, Endeavor Philippines and National Competitiveness Council; and a Philippine Representative for APEC Business Advisory Council. He graduated with B.A. in Economics (Cum Laude) at Harvard College in 1981 and took his MBA at the Harvard Graduate School of Business Administration in 1987.

Fernando Zobel de Ayala

Fernando Zobel de Ayala

Filipino, Director of Ayala Corporation since May 1994. He is the President and Chief Operating Officer of Ayala Corporation since April 2006. He holds the following positions in publicly listed companies: Chairman of Ayala Land, Inc. and Manila Water Company, Inc.; and Director of Bank of The Philippine Islands, Globe Telecom, Inc. and Integrated Micro- Electronics, Inc. He is the Chairman of AC International Finance Ltd., AC Energy Holdings, Inc., and Hero Foundation, Inc.; Co-Chairman of Ayala Foundation, Inc.; Director of AC Infrastructure Holdings, Corporation, LiveIt Investments, Ltd., Ayala International Holdings Limited, Honda Cars Philippines, Inc., Isuzu Philippines Corporation, Pilipinas Shell Petroleum Corp., Manila Peninsula and Habitat for Humanity International; Member of the INSEAD East Asia Council, World Presidents’ Organization and Habitat for Humanity International; Chairman of Habitat for Humanity’s Asia-Pacific Capital Campaign Steering Committee; and Member of the Board of Trustees of Caritas Manila, Pilipinas Shell Foundation, Kapit Bisig para sa Ilog Pasig Advisory Board, National Museum and the foundation of the Roman Catholic Church. He graduated with B.A. Liberal Arts at Harvard College in 1982.

Gerardo Ablaza Jr.

Gerardo C. Ablaza, Jr.

Filipino, has served as member of the Ayala Corporation Management Committee since April 2009 and the Ayala Group Management Committee since 1998. He also holds the following positions in other publicly listed companies in the Philippines: President and CEO of Manila Water Company, Inc. and Co-Vice Chairman of Globe Telecom, Inc. He is also a member of the Board of Directors of Hochiminh City Infrastructure Investment Joint Stock Company, a listed company on the Ho Chi Minh Stock Exchange. His other significant positions are: Director of Manila Water Philippine Ventures, Inc., Boracay Island Water Company, Inc., Cebu Manila Water Development, Inc., Manila Water Consortium, Inc., Manila Water International Solutions, Inc., Clark Water Corporation, Manila Water Total Solutions Corporation, Manila Water Asia Pacific Pte. Ltd., Manila Water South Asia Holdings Pte. Ltd., Kenh Dong Water Holdings Pte. Ltd., and Thu Duc Water Holdings Pte. Ltd., Azalea International Ventures Partners Ltd., Asiacom Philippines, Inc., LiveIt Investment Ltd., AC Energy Holdings, Inc., AC Infrastructure Holdings Corporation, Purefoods International Investment Ltd., ACST Business Holdings, Inc. and AG Holdings Limited. He is also a member of the Board of Trustees of the Manila Water Foundation, Inc. and Ayala Foundation, Inc. From 1998 to April 2009, Mr. Ablaza was the President and CEO of Globe Telecom, Inc. He was also the Chairman of the Board of Directors of Innove Communications Inc., a wholly owned subsidiary of Globe Telecom Inc. from October 2003 to April 2009. Before joining the Ayala Group, Mr. Ablaza was Vice-President and Country Business Manager for Philippines and Guam of Citibank, N.A. for its Global Consumer Banking Business (1994-1997), Vice President for Consumer Banking of Citibank, N.A. Singapore (1994-1995). In 2004, Mr. Ablaza was recognized by CNBC as the Asia Business Leader of the Year, making him the first Filipino CEO to win the award. In the same year, he was awarded by Telecom Asia as the Best Asian Telecom CEO. In 2013, he was recognized for his consistent leadership and innovation across the banking, investment, telecommunications and utility service industries through the Citi Distinguished Alumni Award for Leadership and Ingenuity. Mr. Ablaza graduated summa cum laude from the De La Salle University in 1974 with a degree in Liberals Arts, Major in Mathematics (Honors Program). As one of the most accomplished graduates of his alma mater, he sits on the Board of Trustees in various De La Salle schools in the country.

Rene Almendras

Jose Rene Gregory D. Almendras

Filipino, has experience in both private and public sectors. He currently serves as President & CEO of AC Infrastructure Holdings Corporation (AC Infra). Concurrently, he is Managing Director and Head of Public Affairs and a member of the Ayala Corporation (AC) Management Committee. He also serves as a member of the Board of Directors of the following companies within the Ayala Group: AC Energy, Light Rail Manila Holdings, Inc., MCX Tollway Inc. and AF Payments Inc.

As a public servant in the Philippine government, Rene served in various positions, namely, Secretary of Energy, Cabinet Secretary and Secretary of Foreign Affairs.

Under his leadership, the Department of Energy ranked as one of the Top 10 Performers, in a survey among government agencies on government performance specifically in ensuring integrity in public service. In 2011, he became the co-chair of the high-level discussion on the Long-Term Strategy for the International Renewable Energy Agency (IRENA) held in Abu Dhabi. In the same year, the Philippines became a rotating member of the Executive Board of the International Energy Forum (IEF). Last September 2013, after stepping down as Energy Secretary, Rene was awarded ASEAN Individual Excellence in Energy Management by his fellow Energy Ministers during the 31st ASEAN Ministers on Energy Meeting (AMEM) and ASEAN Energy Awards, which was another 1st for the Philippines.

During his stint as a Cabinet Secretary, he was tasked to effectively integrate and implement the programs of the Aquino Administration and ensure the effective coordination of policies and projects of the different departments and agencies of government. In June 2013, Rene was given the rare privilege of addressing the United Nations Economic and Social Council (ECOSOC) in Geneva and then again in December 2013 for the United Nations’ Special Meeting of the ECOSOC in New York. As Cabinet Secretary, he was responsible for the resolution of major and critical issues such as the Hong Kong 2010 incident crisis, Balintang Channel incident to the Republic of China (Taiwan) and the Manila International Port Congestion.

The first 13 years of his professional life started with the Citibank group, where he started as a management trainee. Landing his first CEO position as the President of City Savings Bank of the Aboitiz Group at the age of 37, he has come to be known for his success in driving the value of the companies he has led, and his craft in honing these companies to garner national and international recognitions and awards. In 2011, he was recognized by the World Economic Forum as the new Sustainability Champion for his efforts as President of Manila Water Company, Inc. He introduced customer service quality improvements resulting to a very high satisfactory rating from the company’s customers. He was instrumental for the expansion and growth of the company beyond the East Zone. During his term, the company was awarded as one of the Best Managed Companies in Asia, the Best in Corporate Governance, one of the Greenest Companies in the Philippines and hailed as the world’s Most Efficient Water Company.

In June 2016, a Presidential Award, Order of Lakandula, Rank of Gold Cross Bayani, highest honor given to a civilian by the Republic of the Philippines, was awarded to him by President Benigno S. Aquino III, for his remarkable performance during the Aquino administration.

Rene believes in servant leadership and aims to lead to serve others. He is a passionate advocate of transformation through people development and personally champions the development programs of the people in his organization.

Eric Francia

Eric T. Francia

Filipino, Managing Director and member of the Management Committee of Ayala Corporation since 2009. He is President and CEO of AC Energy, Inc. In his previous role as Head of Ayala’s Corporate Strategy and Development group, Mr. Francia led Ayala’s entry into energy and transport infrastructure sectors in 2011. Under his leadership, Ayala invested in over 1,000MW of attributable capacity in the energy sector, and secured over $1bn worth of PPP projects in the transport infrastructure space. Mr. Francia is a member of the Board of Directors of Manila Water Company, Inc., AC Energy, Inc., AC Infrastructure Holdings Corporation, Light Rail Manila Holdings, Inc., Ayala Healthcare Holdings, Inc., Ayala Education, Inc., Ayala Aviation Corporation, Ayala Hotels, Inc., HCM City Infrastructure Investment Joint Stock Company (Vietnam), and several other operating companies. He is also a Trustee of the University of Asia and the Pacific Foundation, Inc. Mr. Francia received his undergraduate degree in Humanities and Political Economy from the University of Asia & the Pacific, graduating magna cum laude. He then completed his Masters Degree in Management Studies at the University of Cambridge in the United Kingdom, graduating with First Class Honors.

Solomon Hermosura

Solomon M. Hermosura

Filipino, has served as Managing Director of Ayala Corporation since 1999 and a member of the Ayala Corporation Management Committee since 2009 and the Ayala Group Management Committee since 2010. He is also the Group Head of Corporate Governance, General Counsel, Compliance Officer, and Corporate Secretary of Ayala Corporation. He is the CEO of Ayala Group Legal. He serves as General Counsel and Corporate Secretary of Ayala Land, Inc., and Corporate Secretary of Globe Telecom, Inc., Manila Water Company, Inc., Integrated Micro-Electronics, Inc. and Ayala Foundation, Inc.; and a member of the Board of Directors of a number of companies in the Ayala group. He graduated valedictorian with Bachelor of Laws degree from San Beda College in 1986 and placed third in the 1986 Bar Examination.

Delfin Gonzalez Jr.

Delfin C. Gonzalez, Jr.

Filipino, was Chief Finance Officer of Ayala Corporation and a member of the Ayala Corporation Management Committee and the Ayala Group Management Committee from April 2010 to 2014. He joined Ayala Corporation in late 2000, assigned as Chief Finance Officer for its subsidiary, Globe Telecom, Inc. until early 2010. He is a director of Integrated Micro-Electronic, Inc, a publicly listed company. He also holds the following positions in various companies of the Ayala Group: Chairman of Darong Agricultural Development Corporation, AC Infrastructure Holdings Corporation and AYC Finance Ltd.; President and Director of Ayala DBS Holdings Inc.; and Director of AC International Finance, Ltd., Asiacom Philippines, Inc., AC Energy Holdings, Inc., LiveIt Investments, Ltd., Ayala Aviation Corporation, AYC Holdings Ltd., Michigan Holdings, Inc., Azalea International Venture Partners Ltd., Philwater Holdings Company, and various Ayala international companies. He graduated Magna Cum Laude in Bachelor of Science in Chemical Engineering from De La Salle College in 1971 and earned his Master’s Degree in Business Administration from Harvard Business School in 1975.