Gotianun’s Filinvest gifts execs with 5% pay hike
Filinvest Development Corp. (FDC) of the late Bilyonaryo Andrew Gotianun is extending a five percent hike in the salaries and bonuses of key executives and directors.
FDC president and chief executive officer Josephine Gotianun Yap together with chairman Jonathan Gotianun, director Jesus Alcordo, chief operating officer Eleuterio Coronel, and deputy chief finance officer Daniel Ang Tan Chai are expected to take home P61.4 million this year from P58.5 million last year.
On the other hand all other officers and directors are expected to receive P76.8 million this year or about five percent higher than last year’s P73.2 million.
Except for a per diem of P50,000 being paid to each independent director for every meeting attended, no other compensation or remuneration is paid to the directors.
Nominated directors of FDC for 2016-2017 include Mercedes Gotianun, Andrew Gotianun Jr. Jonathan Gotianun, Josephine Gotianun Yap, Jesus Alcordo, lawyer Val Antonio Suarez (independent), and Virginia Obcena (independent).
The company is set to hold its stockholders’ meeting on April 29.
Earnings of FDC climbed 13 percent to P7 billion last year from P6.2 billion in 2014 as consolidated revenues jumped 28 percent to P49.27 billion from P38.55 billion.
FDC is involved in real estate and property development, mall, theater and resort hotel operations, banking and financial services, sugar farming and milling and beginning late-2009, power generation business.