In an emblematic recognition of corporate excellence and governance, EastWest is proud to announce that it has been awarded the esteemed ACGS Golden Arrow Award by the Institute of Corporate Directors (ICD).
EastWest stands as one of the top-performing companies in the ASEAN Corporate Governance Scorecard (ACGS), securing a commendable score between 80-89 out of 130. This triumph places EastWest in the esteemed category of companies that have received one Golden Arrow out of a maximum of five, marking its unwavering commitment to best-in-class corporate governance.
The Golden Arrow is awarded to companies that achieved a score of at least 80 points in the ACGS Assessment. Based on the evaluation, EastWest had exhibited observable conformance with the Philippine Code of Corporate Governance and internationally recommended corporate governance practices as espoused by the ACGS. Five (5) levels of performance in corporate governance are conferred, as the ACGS offers a robust measure of a company’s performance in key areas. Making the very strict cut this year, EastWest sees this achievement as a testament to its continuing commitment to excellence in the field of corporate governance.
The ACGS measures the performance of the companies like EastWest in the areas of facilitating the rights and the equitable treatment of shareholders, how they relate to their different stakeholders, ensuring transparency and accountability through timely disclosure of material information, and how the board guides the company strategically, monitors the management, and ensures the board’s accountability to the company and the shareholders.
With a comprehensive scorecard consisting of 184 questions, all sourced from publicly available disclosures on company websites, the ACGS champions the elevation of corporate governance standards. Its mission aligns with the pursuit of making Philippine publicly listed companies irresistibly attractive to investors by emphasizing governance practices that are world-class.
Attaining the Golden Arrow is no small feat for EastWest. The ICD recognizes every year only the top Philippine publicly-listed companies and insurance companies in corporate governance based on the 2022 ASEAN Corporate Governance Scorecard (ACGS) and Corporate Governance Scorecard (CGS) Assessment Results, respectively.
Receiving this distinguished award at Okada, Manila Hotel, on behalf of EastWest, was Atty. Amy Dio, FVP and Chief Compliance Officer. Her leadership and the collective efforts of the bank’s dedicated team have been pivotal in ensuring EastWest’s exemplary governance and commitment to stakeholders, culminating in being recognized on this monumental evening.
“Good corporate governance isn’t just a goal; it’s the backbone of trust in every enterprise. In the world of business, corporate governance is the compass that ensures we navigate with integrity and responsibility. Every stakeholder’s confidence is a testament to the quality of our corporate governance,” said Atty. Dio.
“While strategies might evolve and markets may shift, the principles of good corporate governance remain our unwavering north star. Transparency, accountability, and trust – these aren’t just words; they are the pillars of strong corporate governance. When we prioritize corporate governance, we’re not just securing the present, but safeguarding the future of our enterprise,” she added.
As we celebrate this remarkable achievement, EastWest remains resolute in its mission to continually raise the bar in corporate governance and to drive unparalleled value for our shareholders, clients, and the broader community.