Bank of the Philippine Islands announced that at the Organizational Meeting of Board of Directors held on April 19, 2018, elected Xavier P. Loinaz as independent chairman of audit committee and Octavio V. Espiritu and Dolores B. Yuvienco as independent members of audit committee of the company. Jaime Augusto Zobel De Ayala was elected as chairman of Executive Committee, Fernando Zobel De Ayala was elected as Vice-Chairman of Executive Committee, Cezar P. Consing was elected as Member/President/CEO of Executive Committee, Rebecca G.  Fernando, Aurelio R. Montinola III and Mercedita S.  Nolledo were elected as members of Executive Committee and Antonio Jose U. Periquet was elected as Independent member of Executive Committee. Octavio V. Espiritu was elected as independent chairman of Risk Management Committee and Romeo L. Bernardo and Mary Astrid S. Tuminez were elected as independent members of Risk Management committee of the company. Aurelio Luis R. Montinola III was elected as member of Risk Management committee. Ignacio R. Bunye was elected as independent chairman of Related Party Transaction Committee, Romeo L. Bernardo was elected as independent member of Related Party Transaction committee and Rebecca G. Fernando appointed as member of Related Party Transaction committee of the company. Dolores B. Yuvienco was elected as independent chairman of Corporate Governance Committee and Ignacio R. Bunye and Mary Astrid S. Tuminez were elected as independent members of Corporate Governance committee of the company. Mercedita S. Nolledo was elected as member of Corporate Governance committee. Romeo L. Bernardo was elected as independent chairman of Nomination Committee and Jaime Augusto Zobel De Ayala, Fernando Zobel De Ayala and Aurelio Luis R. Montinola III were elected as members of Nomination committee of the company. Xavier P. Loinaz appointed as independent member of Nomination committee. Fernando Zobel De Ayala was elected as chairman of Personnel and Compensation Committee and Gerardo C. Jr. Ablaza, Aurelio R. Montinola III and Delfin C. Gonzalez Jr. were elected as members of Personnel and Compensation committee of the company. Romeo L. Bernardo was elected as independent member of Personnel and Compensation committee. Mercedita S. Nolledo was elected as chairman of Retirement/Pension Committee and Rebecca G. Fernando and Delfin C. Jr. Gonzalez were elected as members of Retirement/Pension Committee of the company. Cezar P. Consing was elected as chairman of Credit Committee, Joseph Anthony M. Alonso was elected as Vice-Chairman of Credit Committee and Simon R. Paterno, Maria Theresa Marcial-Javier, Juan Carlos L. Syquia and Ma. Luisa L. Cruz were elected as members of Credit Committee of the company.