Board of Directors

ENRIQUE K. RAZON, JR.
Filipino
Chairman of the Board of Directors since June 3, 2021

Enrique K. Razon Jr. is Chairman of the Board and President of International Container Terminal Services, Inc. (ICTSI), a Philippine-based company involved in the management and operation of 34 ports and terminals in 20 countries. He is also Chairman of Bloomberry Resorts Corporation (BRC), developer of Solaire Resort and Casino, a US$1.2 billion integrated resort complex in the Philippines’ Entertainment City. ICTSI and BRC are listed in the Philippine Stock Exchange.

Mr. Razon belongs to the third generation of a family involved in marine cargo handling. The Razon Group has a long-standing reputation of being pioneers and innovators in the management and development of ports, terminals and related facilities. The group’s proven track record stems from over 90 years’ experience in integrated cargo handling, stevedoring and other port services in the Philippines and abroad.

In 1987, the Razon Group and the Soriano Group incorporated ICTSI, initially to bid for the Manila International Container Terminal (MICT) in the Philippines. After winning the MICT contract 1988, Mr. Razon spearheaded the MICT’s development program. The MICT today is the country’s premier international gateway. ICTSI also operates 10 other terminals in the Philippines.

After consolidating and strengthening its base and flagship operation at the MICT, ICTSI launched an international and domestic expansion program in 1994. Today, ICTSI is recognized as a leading operator, innovator and pioneer in port management with a track record that confirms its ability to rapidly adapt to different operating environments, add substantial value to its terminals by enhancing their efficiency at every level while focusing on sustainable development. The company continues to pursue prospects in Asia, the Middle East, Africa, the Americas and Europe.

Mr. Razon is on the board of most ICTSI subsidiaries worldwide and of several leading foreign and Philippine corporations. Mr. Razon also chairs the ICTSI Foundation, Inc., which oversees and implements the ICTSI Group’s corporate social responsibility advocacies. He is also chairman of Pilipinas Golf Tournaments, Inc., which stages the Philippine Golf Tour, Southeast Asia’s largest professional golfing circuit.

Mr. Razon’s other investments are in power, mining, oil and gas exploration, and leisure facilities including a golf course in the Philippines.

FERNANDO ZOBEL DE AYALA
Filipino
Director of Manila Water since May 15, 1997

Mr. Zobel de Ayala holds the following positions in publicly listed companies: Vice-Chairman, President and Chief Executive Officer of Ayala Corporation (AC), Chairman of Ayala Land, Inc. (ALI), and AC Energy Corporation (ACEN). He is Co-Vice Chairman of Globe Telecom, Inc. (GLO), He is a director of the Bank of the Philippine Islands (BPI), and Integrated Micro- Electronics, Inc. (IMI); and serves as an Independent Director of Pilipinas Shell Petroleum Corporation (SHLPH). 

He is the Chairman of AC International Finance Ltd., Liontide Holdings, Inc., AC Energy and Infrastructure Corporation, Ayala Healthcare Holdings, Inc., Automobile Central Enterprise, Inc., Alabang Commercial Corporation, Accendo Commercial Corp., Ayala Group Club, Inc., BPI Foundation, Inc., and Hero Foundation, Inc.  He serves as Co-Chairman of Ayala Foundation, Inc. 

He is the Vice-Chairman of AC Industrial Technology Holdings, Inc., ALI Eton Property Development Corporation, Ceci Realty Inc., Fort Bonifacio Development Corporation, Bonifacio Land Corporation, Emerging City Holdings, Inc., Columbus Holdings, Inc., Berkshires Holdings, Inc. AKL Properties, Inc., AC Ventures Holdings Corp., and Bonifacio Art Foundation, Inc.  

He is a Director of AG Holdings Ltd., AC Infrastructure Holdings Corporation, Asiacom Philippines, Inc., BPI Asset Management and Trust Corporation, Altaraza Development Corporation, and Manila Peninsula. 

He is a Director of INSEAD Business School and Georgetown University; Member of the International Advisory Board of Tikehau Capital and of the Hispanic Society Museum & Library International Advisory Council; Vice Chairman of the Philippine-Singapore Business Council, member of the Chief Executives Organization; Co-Chair of the Tate Museum Asia-Pacific Acquisitions Committee; Member of the Board of Trustees of Caritas Manila, Pilipinas Shell Foundation, National Museum and Asia Society; and Member of Habitat for Humanity International’s Asia Pacific Development Council, Asia Philanthropy Circle and The Metropolitan Museum International Council. 

Mr. Zobel de Ayala graduated from Harvard College with B.A. in Liberal Arts. He also holds a Certificate in Global Management (CIM) from INSEAD, France.  

JOSE VICTOR EMMANUEL A. DE DIOS
Filipino
Director, President and Chief Executive Officer since August 27, 2021

Prior to this appointment as an Executive Director, President & Chief Executive Officer of Manila Water, Mr. de Dios was Chief Executive Officer of Prime BMD Corporation. He is a member of the boards of  publicly listed Oriental Petroleum and Minerals Corp. and Phoenix Petroleum Philippines. He has extensive experience as a corporate chief executive, business leader and attorney. 

Mr. de Dios graduated from the Ateneo School of Law in 1990 and obtained his Master of Laws degree from Harvard Law School in 1994. He spent his early professional years practicing law starting in the Supreme Court as Senior Law Clerk to then Associate Justice Hilario Davide, Jr. before eventually moving to private practice at the Romulo Law Office where he specialized in Corporate, Energy, Commercial and Securities Law.

From 2001 to 2004, he served as Undersecretary at the Philippine Department of Energy, overseeing preparation of the country’s Philippine Energy Plans and creation of the agency’s Natural Gas Office. He also supervised the country’s downstream oil sector which became a showcase in Asia. He was then appointed Chairman of the Philippine National Oil Company-Exploration Corp. where he served until 2005.

In 2007, Mr. de Dios was appointed President of Nido Petroleum Philippines and then in 2008 as CEO/Managing Director of Nido Petroleum Pty, an ASX-listed oil exploration company. While based in Perth, Western Australia, he led the company’s multiple drilling campaigns in the prolific Palawan basins.

He subsequently moved to GE Philippines in 2012 where he served as Chairman of the Board and CEO. He was also Chairman and COO, GE Oil & Gas Philippines, Inc. Chairman and President, GE Power and GE Lighting Philippines Inc. Branch Manager, General Electric International Inc., and Managing Director, GE Government Affairs & Policy, Asia Pacific. As CEO of GE, he led the growth of the company’s businesses in the Philippines which included Energy (Power, Renewable Energy and Grid Solutions), Healthcare, Water and Aviation. He headed the Government Affairs & Policy portfolio covering the Asia Pacific region, developing strategies for GE businesses and executing on these strategies with global GE teams and regional stakeholders.

Concurrent to his appointment as President and CEO of Manila Water, he also serves as the Chairman of Boracay Island Water Company, Inc., Clark Water Company, Inc., Manila Water Philippine Ventures, Inc., and Manila Water Total Solutions Corp. He is also the President of Manila Water Foundation, Inc., and is the Vice-President of Laguna AAAWater Corporation. He was recently elected as a Director of Manila Water Asia Pacific Pte. Ltd.  He is also a Trustee of the Philippine Disaster Resilience Foundation, Inc. 

Mr. de Dios is passionate about education, having taught many years at the Ateneo School of Law, Lyceum of the Philippines University and UP College of Business from which he graduated (BsBA, 1986) and was recognized as one of the Outstanding Alumni in 2014. He is also an active business mentor through the Endeavor Network. He previously served as a member of the board of the American Chamber of Commerce in the Philippines and is currently active in other non-profit organizations as board member/trustee.

JOSE RENE GREGORY D. ALMENDRAS
Filipino
Director since May 14, 2019

Mr. Almendras also serves as Chairman of Light Rail Manila Holdings 6, Inc. and MCX Tollway, Inc. He is a Director and President of AC Infrastructure Holdings Corporation. He is a Director of Light Rail Manila Holdings, Inc., Light Rail Manila Holdings 2, Inc., Light Rail Manila Corporation, A2 Airport Partners, Inc., and AC Energy, Inc. and also serves as a member of the Board of Trustees of Manila Water Foundation, Inc. He is a Senior Managing Director of Ayala Corporation and heads its Public Affairs Group. He also serves as Executive Vice-President of Asiacom Philippines, Inc. 

He previously served as President of Manila Water Company, Inc. from 2009 to 2010, and from August 2019 until June 2021. He was also a former officer of Ayala Land, Inc. He served as the Secretary of Foreign Affairs for the Republic of the Philippines from March to June 2016, as Cabinet Secretary under the Office of the President from November 2012 to March 2016, and Secretary of the Department of Energy from July 2010 to October 2012. He was Co-chair of the Long-Term Strategy for the International Renewable Energy Agency (IRENA) held in Abu Dhabi in 2011, and a Member of the Executive Board of the International Energy Forum (IEF) in 2011. 

Mr. Almendras received the ASEAN Individual Excellence in Energy Management in 2013 and was an Order of Lakandula and Rank of Gold Cross Bayani awardee in 2016. 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 June 2013, he was given the rare privilege of addressing the United Nations Economic and Social Council (ECOSOC) at the Palais des Nations, Geneva and then again in December 2013 for the United Nations’ Special Meeting of the ECOSOC in New York. 

During his term as the President and CEO of Manila Water from 2009 to 2010, 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.

ANTONINO T. AQUINO
Filipino
Director since April 24, 1998

Mr. Aquino first joined Manila Water as Group Director for Corporate Affairs and was later appointed President and CEO in January 1999. He left Manila Water to take on the position of President of Ayala Land, Inc. in April 2009 up to 2014, but remained a Director of the Company. 

At present, Mr. Aquino also serves as a Director of Ayala Land, Inc. He is also a Director of the following non-listed companies: AIA Philippines Life & General Insurance Co., Nuevocentro, Inc., Anvaya Beach and Nature Club, and Manigo Amiga Academy, Inc. 

He was named "Co-Management Man of the Year 2009" by the Management Association of the Philippines for his leadership role in a very successful waterworks privatization and public-private sector partnership. Recently he was conferred as Honorary Fellow by the Institute of Corporate Directors (ICD). 

Mr. Aquino has been with the Ayala Group in various capacities for the past forty-one (41) years and has held the position of Senior Managing Director in Ayala Corporation. He was President of the Ayala Property Management Corporation from 1989 to 1999 and Senior Vice President of Ayala Land, Inc. from 1989 to 1998. He was also a Business Unit Manager at IBM Philippines, Inc. from 1968-1980.  He is also a member of the Multi Sectoral Advisory Board of the Philippine Army and the Multi Sector Governance Council of the Armed Forces of the Philippines. Mr. Aquino is in the Advisory Board of Hero Foundation. 

Mr. Aquino completed earned his bachelor’s degree in science, majoring in Management from Ateneo de Manila University. He also completed academic units leading towards a master’s degree in Business Management from the Ateneo Graduate School of Business.

RAFAEL D. CONSING
Filipino
Director since June 3, 2021

Mr. Consing also serves as the Senior Vice President and Chief Financial Officer of International Container Terminal Services, Inc. (ICTSI), a publicly listed company. He was appointed to the role in October 2015 and as the Compliance Officer on February 9, 2016. Prior to this, he was the Vice President and Treasurer of ICTSI.

Concurrently, he is a Director and Treasurer of the following ICTSI subsidiaries:, Subic Bay International Terminal Corp., Subic Bay International Terminal Holdings, Inc., ICTSI Subic Inc., Cordilla Properties Holdings, Inc., IW Cargo Handlers, Inc., IWI Container Terminal Holdings, Inc., ,., Cavite Gateway Terminal, Inc.,; an alternate member of Sociedad Puerto Industrial Aguadulce S.A., a Director of Hijo International Port Services, Inc. Falconer Aircraft Management, Inc., Tecplata S.A., Contecon Manzanillo S.A., Terminal Maritima de Tuxpan, S.A. de C.V., Operadora Portuaria Centroamericana S.A. de C.V., Motukea International Terminal Limited, South Pacific International Container Terminal Limited, Victoria International Terminal Limited, ICTSI South Pacific Limited, ICTSI Oregon, Inc., Global Procurement Ltd., ICTSI Honduras Ltd., Aeolina Investments Limited, Crixus Limited, ICTSI Georgia Corp., ICTSI QFC LLC, ICTSI Project Delivery Services Co. Pte. Ltd., ICTSI South Asia Pte. Ltd., ICTSI Mauritius Ltd., Consultports S.A. de C.V., Asiastar Consultants Limited, ICTSI Far East Pte. Ltd., and Manila North Harbour Port, Inc.; the Chairman of Laguna Gateway Inland Container Terminal, Inc., CGSA Transportadora S.L. and SPIA Spain S.L.; a Director and the Deputy Chairman of ICTSI Ltd. and International Container Terminal Holdings, Inc.; a Director A of ICTSI Capital B.V., Royal Capital B.V., ICON Logistiek B.V., ICTSI Americas B.V., ICTSI Cameroon B.V., Tecplata B.V., Global Container Capital B.V., CGSA B.V., SPIA Colombia B.V., CMSA B.V., TSSA B.V., ICTSI Treasury B.V., ICTSI Cooperatief U.A., ICTSI Oceania B.V., ICTSI Tuxpan B.V., ICTSI Africa B.V., ICTSI Global Cooperatief U.A., and ICTSI Global Finance B.V.; a Commissioner of PT ICTSI Jasa Prima Tbk.; and a Treasurer of Intermodal Terminal Holdings, Inc.

He is also a Director and Treasurer of Trident Water Company Holdings, Inc.

Mr. Consing began his career at the Multinational Investment Bancorporation in June 1989.  From 1999 to 2007, he assumed various roles in HSBC, including Director and the Head of Debt Capital Markets for the Philippines, and subsequently for South East Asia.  He later became the Managing Director and the Head of the Financing Solutions Group, Asia Pacific. In HSBC, Mr. Consing was involved in strategic and situational financing and advisory activities, including acquisition and leveraged finance, debt capital markets, credit ratings and capital advisory. He also held positions in investment banking with Bankers Trust NY, Deutsche Bank and ING Barings. In 1993 to 1995, Mr. Consing served as the Vice President and the Treasurer of Aboitiz & Company, Inc. and Aboitiz Equity Ventures, Inc. 

Mr. Consing received his A.B. degree, major in Political Science, from the De La Salle University, Manila, in 1989. He is an alumnus of the Emerging CFO: Strategic Financial Leadership Program of the Stanford Graduate School of Business.

DONATO C. ALMEDA
Filipino
Director and Chief Regulatory Officer since June 3, 2021

Mr. Almeda is also a Director of Bloomberry Resorts Corporation (BRC) and Bloomberry Resorts and Hotels, Inc. He is also a Director of Bloomberry Cruise Terminals Inc., MORE Electric & Power Corporation, and is the President of Bloomberry Cultural Foundation Inc. He is the Chairman of Manila Water Foundation, Inc. He is designated as Vice-Chairman for Construction and Regulatory Affairs of Bloomberry Resorts Corporation, Bloomberry Resorts and Hotels, Inc., and Sureste Properties, Inc. BRC is a publicly listed company.

He served as President and CEO of Waterfront Philippines Inc. He also served as: President of Waterfront Cebu City Hotel, Waterfront Mactan Hotel and Fort Ilocandia Hotel, Managing Director of Waterfront Promotions Ltd. (a gaming company) and President of Insular Hotel in Davao.

He earned his Industrial Engineering Degree from De La Salle University.

SHERISA P. NUESA
Filipino
Lead Independent Director since April 16, 2021
Independent Director since April 15, 2013
Member of the Board of Directors since April 15, 2013

Ms. Nuesa also serves as a Director of the following publicly listed companies: Far Eastern University (FEU), Integrated Micro Electronics Inc. (IMI), AC Energy, Inc. (ACEN), and Ayala Land, Inc. (ALI).  She is also a director of FERN Realty Corporation, a non-listed company. 

Ms. Nuesa is a Senior Board Adviser of Metro Retail Stores Group (MRSGI), Board Adviser of Vicsal Development Corporation, Chairman of the Board of the Judicial Reform Initiative, and a Trustee of the Financial Executives Institute of the Philippines (FINEX) Foundation.

Ms. Nuesa was a Managing Director of Ayala Corporation where she served in various senior management positions until December 2011. She was the President and a Director of the ALFM Mutual Funds Group from 2012 to 2021. She was a member of the Boards of Generika/Actimed Group from 2017 to 2019, Psi Technologies, Inc. from 2010 until 2015, and the Blackhorse Emerging Enterprises Fund (Singapore) from 2009 to 2014. She was the Chief Finance Officer and Chief Administrative Officer of Integrated Micro-Electronics, Inc. from January 2009 to July 2010, the Chief Finance Officer of Manila Water Company, Inc. from January 2000 to December 2008, Group Controller and later Vice President for Commercial Centers of Ayala Land, Inc. from January 1989 to March 1999. She also served as a board member of various subsidiaries of Ayala Land Inc., and Integrated Micro-Electronics. She was also a member of the board of trustees of Manila Water Foundation, Inc. She also served as Vice Chairman and Trustee of the Institute of Corporate Directors until June 2021.

Ms. Nuesa was awarded the ING-FINEX Chief Finance Officer of the year in 2008 and an Outstanding Alumna of the Far Eastern University in 2008. She earned her bachelor’s degree in Commerce from Far Eastern University where she graduated summa cum laude. She completed her MBA at the Ateneo-Regis Graduate School of Business. She was part of the Advanced Management Program at Harvard Business School, and the Financial Management Program of Stanford University. She also completed an Audit Committee Seminar at Harvard Business School. Ms. Nuesa is a Certified Public Accountant.

CESAR A. BUENAVENTURA
Filipino, 92 years old
Independent Director since April 16, 2021

Aside from serving as an Independent Director of Manila Water, Mr. Buenaventura also serves as an Independent Trustee of Manila Water Foundation, Inc. 

Mr. Buenaventura also serves as an Independent Director of International Container Terminal Services, Inc. (ICTSI) since February 12, 2019. On June 18, 2020, he was appointed as the member of Audit Committee, Environment, Social and Governance Sub-Committee, Board Risk Oversight Committee, Related Party Transactions Committee, and a Chairman of Corporate Governance Committee. He is the Director and Chairman of Mitsubishi Hitachi Power Systems Phils. Inc. and Buenaventura Echauz and Partners, Inc., Director and Vice Chairman of DMCI Holdings, Inc. (DMCI), Director of Semirara Mining and Power Corp. (SCC), iPeople, Inc. (IPO), Petroenergy Resources Corp. (PERC), Concepcion Industrial Corp. (CIC), Pilipinas Shell Petroleum Corp. (SHLPH), DM Consunji Inc., and The Country Club. He is likewise a Trustee and Chairman of Pilipinas Shell Foundation Inc., and Trustee of Bloomberry Cultural Foundation and ICTSI Foundation, Inc. He was formerly a Director of Philippine American Life Insurance Co., AG&P Co. of Manila, Ayala Corporation, First Philippine Holdings Corp., Philippine Airlines, Philippine National Bank, Benguet Corporation, Asian Bank, Ma. Cristina Chemical Industries, Maibarara Geothermal Inc., and Manila International Airport Authority. ICTSI, DMCI, SMC, IPO, PERC, CIC, and SHLPH are publicly listed companies. 

His career started with Engineer David Consunji in 1951. Mr. Buenaventura then moved to the Shell Group of Companies in 1956 where he served as the first Filipino CEO and Chairman from 1975 until his retirement in 1990. He served 2 more years in the capacity of non-executive chairman until 1992. He was appointed member of the Monetary Board of Central Bank of the Philippines representing the private sector from 1981 until 1987.

Mr. Buenaventura is the founding chairman of the Pilipinas Shell Foundation Inc. and founding member of the Board of Trustees of the Makati Business Club. He was a member of the Board of Regents of the University of the Philippines from 1987 to 1994, the Board of Trustees of the Asian Institute of Management from 1994 to 2007, and President of Benigno Aquino S. Foundation from 1985-2010.

He is a recipient of many awards, among which are – Most Distinguished Alumnus, College of Engineering, University of the Philippines in 1977, the Management Man of the year by the Management Association of the Philippines in 1985, Outstanding Professional in Engineering by the Professional Regulatory Commission in 1997, Outstanding Fulbrighter in the field of business by the Philippine Fulbright Association in 2008, recipient of Centennial Award as one of the UP’s Top 100 Alumni Engineering Graduates.

In 1991, Mr. Buenaventura was made Honorary Officer of the Order of the British Empire (OBE) by Her Majesty Queen Elizabeth II.

Mr. Buenaventura received his Bachelor of Science degree in Civil Engineering from the University of the Philippines and his master’s degree in Civil Engineering majoring in Structures from Lehigh University Bethlehem, Pennsylvania in 1954, as a Fulbright scholar.

OCTAVIO VICTOR R. ESPIRITU
Filipino, 78 years old
Independent Director since April 16, 2021 

Mr. Espiritu holds the following positions in the following public-listed companies: Independent Director of Bloomberry Resorts Corporation (BRC), and Director of the Bank of the Philippine Islands (BPI). 

He is also a Director of Philippine Stratbase Consultancy, Inc., Pueblo de Oro Golf and Country Club and The Country Club, Inc.  He is also currently the Chairman of GANESP Ventures, Inc. and MAROV Holding Company, Inc. and a trustee board member of the Carlos P. Romulo Foundation. 

Formerly, Mr. Espiritu was a three-term former President of the Bankers Association of the Philippines, a former President and Chief Executive Officer (CEO) of Far East Bank and Trust Company, and Chairman of the Board of Trustees of the Ateneo de Manila University for fourteen (14) years.

Mr. Espiritu received his primary, secondary, and college education from the Ateneo de Manila University where he obtained his AB Economics degree in 1963. In 1966, at the age of 22, he received his master’s degree in Economics from Georgetown University in Washington DC, USA.

ERIC RAMON O. RECTO
Filipino
Independent Director since April 16, 2021

Mr. Recto has served as the Chairman of the Philippine Bank of Communications since May 2012. At present he holds the following positions in public listed companies: Independent Director of Aboitiz Power Corporation, Independent Director of PH Resorts Group Holdings, Inc., and Director of DITO CME Holdings Corp. (formerly ISM Communications Corporation). 

He is the Chairman and President of Bedfordbury Development Corporation, Vice-Chairman of Alphaland Corporation, Vice-Chairman and President of Atok-Big Wedge Co., Inc., President of Q-Tech Alliance Holdings, Inc., and the owner of Premium Wine Exchange, Inc.  He also serves as an Independent Director of Waterfront Cebu City Casino Hotel, Inc., and Davao Insular Hotel Company, Inc.

Mr. Recto served as the Chairman and President of DITO CME Holdings, Corp. from April 2005 until January 2020.  He was also a Director of Petron Corporation from February 2014 until May 2018, and also served as its President from October 2008 to February 2014.  He was a Director of San Miguel Corporation from May 2010 until June 2014. He was the Vice-Chairman of Philweb Corporation from July 2007 until July 2014, and served as its President from April 2005 until July 2007.  He was a Director of Manila Electric Company from June 2010 until December 2013.  From January 2010 until December 2013, he served as the President of Top Frontier Investment Holdings.  

He served as Vice-Chairman and Director of the Philippine Bank of Communications from July 2011 until May 2012. From May 2005 until March 15, 2010, he was an Independent Director and Chairman of the Executive Committee of Philippine National Bank. During this period, he was also the Chairman of PNB Securities, Inc. He was a Director of Philex Mining Corporation from August 2008 to November 2009.  He served as a Director and member of the Executive Committee of Maynilad Water Services, Inc. from March 2007 until May 2009. From June 2006 to May 2008, he was an Independent Director of Metro Pacific Investment Corporation. From March 2000 to August 2002, he served as Senior Vice-President and Chief Financial Officer of Alaska Milk Corporation. From March 1994 to February 2000, he served as Senior Vice-President and Chief Financial Officer of Belle Corporation.  

Mr. Recto also served as an Undersecretary of the Department of Finance from September 2002 until March 2005 and was in charge of handling both the International Finance Group and the Privatization Office.  

Mr. Recto graduated with a bachelor’s degree in Industrial Engineering from the University of the Philippines. He earned his master’s degree in Business Administration from the Johnson School, Cornell University.