Manila, Philippines - GMA Network, Inc. clinched a Gold Award from the Institute of Corporate Directors (ICD) for inking a 96.8 percent average in the 2010 Corporate Governance Scorecard. The award was given at the ICD’s eighth Annual Dinner held recently at the Rigodon Ballroom of the Peninsula Manila.
As a publicly listed company, GMA advocates accountability, transparency and integrity as embodied in its corporate purpose and values.
“The award is a testament of GMA’s strict adherence to the standards of Corporate Governance. As a media organization that believes in Serbisyong Totoo, the recognition further strengthens our belief that day-to-day operations in broadcast should be bound by virtues of integrity and transparency,” says GMA VP for Investor Relations Ari Chio.
This is GMA’s second recognition from the ICD after bagging a silver award last year. The company managed to enhance its compliance with the provisions of good Corporate Governance as it made the cut to the gold award this year.
GMA was one of the 16 Gold Awardee-PLCs which recorded an average of 95 percent and beyond in five categories, namely, practices related to the rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency and board responsibility.