The Board of Directors of SBS Philippines Corporation announced the election of Mr. Roberto F. Anonas, Jr. and Ms. Yvonne C. Lih as additional new independent non-executive directors of the Company, effective 9 October 2017 to fulfill the requirements under SRC Rule 38 and SEC Code of Corporate Governance. They will hold office as independent directors until the next Annual Meeting of the Shareholders and at which meeting they will be eligible for re-election. Mr. Anonas has likewise been appointed as Chairman of the Corporate Governance, Nomination and Remuneration Committee and member of the Audit, Risk Management and Related Party Transaction Committee. Mr. Anonas, aged 62, is currently a member of the faculty of the University of Asia and the Pacific, School of Management as lecturer in Finance and management mentor/coach in the Enterpreneurial Management Program. He has attended training programs in financial management, investment and universal banking with Dillon Read & Co, NYC and Dresdner Bank AG, Frankfurt and has previously held senior management and executive positions in PLDT, PCI Capital Corporation and Philippine Commercial Capital Inc. He is also a director of Pentarch Stalwark Builders Inc. and an independent director of Macay Holdings Inc. Mr. Anonas succeeds Mr. Rosaleo M. Montenegro who has tendered his resignation as an independent director, Chairman of the Corporate Governance, Nomination and Remuneration Committee and member of the Audit, Risk Management and Related Party Transaction Committee of the Company with effect on 9 October 2017 due to other commitments as an executive in other businesses. Prior to her appointment in the Company, she was previously Chief Marketing Officer for Habitat for Humanity International, Senior Vice President, Property Sales and Leases Division of the Bank of the Philippines Islands and BPI Family Savings Bank, and Vice President, Centralized Operations Group of Citytrust Banking Corporation. She has over 40 years of experience in real estate management, audit and business control, strategic and project management and corporate governance. Ms. Lih has also been appointed as Lead Independent Director of the Company and as member of the Corporate Governance, Nomination and Remuneration Committee and the Audit, Risk Management and Related Party Transaction Committee, vice Ms. Victorina B. Ladringan who has tendered her resignation as Executive Director and Chief Investment Officer of the Company with effect on 9 October 2017.