The Cooperative Insurance System of the Philippines elected a new set of officers during its recently held 42nd Annual General Assembly/Shareholders Meeting at Crown Regency Residences, Cebu City.
Seven members of the Board of Directors and one independent director
were elected during the election of officers on Saturday, April 16, 2016.
Only one candidate had applied for the position of independent director, thus, the
Assembly agreed to open the floor for nominations for the other vacancy of said
independent member of the Board. While three members were also nominated
for the Audit Committee because the two candidates who have applied for membership
in the Audit Committee were disqualified for failing to meet the required minimum paid up capital.
The current members of the Election Committee namely, Mr. Danilo Capili, Ms. Karen Ann Balbuena
and Mr. Frederico Blanco were all retained in a hold over capacity.
The nominees for the independent director and the Audit Committee will be subject to screening
by the Election Committee prior to the confirmation of the appointment of the qualified candidate
by the Board of Directors.
Here is the official results of the election of CISP officers: