Mr. Herbosa is one of the Company's independent Directors since May 2023.

He is also an Independent Director at Citicore Energy REIT Corp., NLEX Corporation, Ovialand, Inc. and also serves as Director at ATR Financial Advisors and Managers Inc., Trinity Insurance and Reinsurance Brokers, Inc., P & Gers Fund, Inc., and a member of the Board of Trustee at De La Salle School of Boards, De La Salle Brothers Fund, Inc.

In July 2025, he was appointed as Chairman of Philippine Veterans Bank. He also served as the President and CEO of the Development Bank of the Philippines from March 2019 to January 2023, the Philippine Export-Import Credit Agency from June 2018 to February 2019, Executive Vice-President of the Bank of Commerce from January 2014 to December 2017, and Senior Vice-President of the Bank of the Philippine Islands from January 2008 to April 2013.

Mr. Herbosa graduated from Dela Salle University with a degree of Bachelor of Science in Industrial Management Engineering in 1975 and obtained a degree in Master’s in Business Administration from Wharton, University of Pennsylvania in 1979.