Strengthening  Governance

 

 

We are committed to the highest standards of                                                              corporate governance and support the principles of                                                    openness, integrity, and accountability.

 
 
 
nurturing-governance-banner

DMPI is committed to the highest standards of corporate governance and supports the principles advocated by the Philippine Stock Exchange and the Securities and Exchange Commission.

DMPI has a strong corporate governance structure that ensures that Management is accountable to the shareholders and stakeholders and operates in an ethical and responsible manner. The Company’s Board of Directors directs the long-term strategy of the Company, evaluates the performance of Management, reviews material issues, and provides guidance on matters relating to governance. 

 
 
 
Governance 1

Preferred share listing in the PSE led by Director Edgardo M. Cruz Jr. and COO Luis F Alejandro

 

Ethics and Integrity

 

 

 

 

 

 

 “Ethics is the new competitive environment.”

Peter Robinson, CEO

Del Monte Philippines Inc. is committed to the highest standards of corporate governance as it supports the principles of openness, integrity, and accountability advocated by the Philippine Stock Exchange, Inc. (PSE) and the Securities and Exchange Commission of the Philippines (SEC).

The Board of Directors and Management are committed to using their best endeavors to align the Company’s governance framework with the recommendations of the ASEAN Corporate Governance Scorecard and the SEC’s Philippine Code of Corporate Governance for Publicly Listed Companies.

governance-ethics-infographic

  1. The Board of DMPI’s parent company, Del Monte Pacific Limited, received the Best Managed Board Award twice in the Singapore Corporate Awards.

  2. DMPI’s parent company, DMPL, ranked #15 or Top 3% among 577 Singapore-listed companies evaluated in the Singapore Governance and Transparency Index in August 2020.

  3. DMPI has a Manual on Corporate Governance that embodies the Company’s governance framework. The Company’s Board has approved DMPI’s policy with respect to related party transactions and interested party transactions, which is expected to be implemented in the fiscal year 2022. The Company also implements a Whistleblower Policy that aims to deter and uncover any corrupt and unethical act detrimental to its interests that may be committed by officers and employees as well as third parties or any other persons such as suppliers and contractors.

  4. DMPI has a Code of Business Ethics which directors, management, and all employees abide by. All employees are required to provide information on related parties and conflicts of interest, and such information is updated annually.

    1. The Company’s ESG initiatives are as follows:
  5. Environment

    Social

    Governance

    Carbon negative footprint

    Corporate values

    Board governance

    Reforestation initiatives

    Employee training

    SEC, PSE, and SGX compliance

    GlobalGAP, PhilGAP certifications

    PMAP Employer of the Year, three times, Hall of Fame

    Manual of Corporate Governance

    Renewable energy

    Total injury incidence rate below industry standards

    Code of Business Ethics

    Packaging reduction programs

    No child and forced labor

    Code of Business Conduct to Suppliers

    Annual coastal clean-up of Macajalar Bay

    Quality certifications

    Human Rights, Conflict of Interest and Whistleblower policies

    Membership in the Cabuyao River Protection Advocates group

    Foundation programs on mobile, medical and dental missions, the Phillips Memorial hospital, livelihood programs, scholarships, and home care education

    Risk Management and Business Continuity plans

       

    Cybersecurity, Data Privacy, and Information security policies

       

    Singapore Governance and Transparency Index

       

    Related Party Transaction / Interested Person Transaction policy

  6. DMPI has a stringent policy against fraud and corruption. Supplementing the Code of Business Ethics are the Employee Code of Conduct and Supplier Code of Conduct which helps employees and suppliers navigate several decisions and transactions they make and enter into every day. Adherence to these codes helps employees and business partners to have sustainable business relationships. The Company is working to enhance its current Supplier Code of Conduct for implementation by the year ended April 30, 2022.

  7. A team evaluates and manages Risks, and both Compliance and Risk issues are reported to the Board of Directors.

  8. The Company has Business Continuity Plans (“BCP”), with a committee headed by the Chief Operating Officer, to ensure continuous operations and supply of products to the market. The BCPs are reviewed annually for any additional measures needed. The Company’s BCPs were implemented during the COVID-19 pandemic.

  9. The Company performs internal audits to assess corporate, facility, and subsidiary processes and controls to ensure compliance with the foregoing policies and to mitigate the risk of breaches, fraud, and both financial and reputational damage. 
 
 
 
Governance 2

Data Protection, Privacy, and Cybersecurity

In this Information Age where data is considered the new currency, data protection, privacy, and cybersecurity have never been more important. As data processing evolves and companies increase their reliance on big data, the risks of data breaches and potential misuse of personal and sensitive information have become more apparent and, in many cases, have given rise to new laws and regulations worldwide.

In response to this challenge, the Company has strengthened its commitment to protecting the personal data of its various stakeholders, including its employees, shareholders, customers, contractors, business partners, and suppliers. The Company has adopted a Data Privacy Manual which codifies the Company’s commitment to ensuring the free flow of information to promote innovation and growth, and for the proper management of its businesses, while at the same time ensuring that the subject’s fundamental right to privacy is respected.

With evolving privacy laws and regulations, the Company needs to more carefully navigate the changing legal environment while remaining steadfast in its commitment to data privacy. The same applies to cybersecurity laws and regulations which have also become increasingly more complex. Companies can be subjected to fines, injunctions, government audits, and, in more serious cases, criminal liability.

  1. DMPI strengthens governance through information protection, data privacy, and cybersecurity. The Company commits to protect the personal data of all stakeholders through the Data Privacy Manual and organizational, physical, and technological measures to ensure the protection of personal data. Additionally, the Company conducts continuous training to build its employees’ competency in the area of personal data privacy. 

  2. The IT team ensures access to the DMPI network for employees who work from home during the pandemic by regularly checking on internet access, networks, servers, and systems. Technical guidelines were also provided to employees regarding syncing emails via outlook, conducting virtual meetings, and accessing the SAP system. 

  3. DMPI implements and rolls out policies that are deployed and enforced in Data Loss Prevention. These policies are now at the monitoring, notification, and management phases. Regular management, monitoring, and periodic maintenance are also being done to the other cybersecurity implementations on network access control, network segmentation, advanced persistent threat protection, and encryption.