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Mr. Lazaro, Filipino, 74, has served as Director since January 1997 and a member of the Finance Committee. His other significant positions include: Chairman of Atlas Fertilizer & Chemicals Inc.; Chairman and President of A.C.S.T. Business Holdings, Inc.; Vice Chairman and President of Asiacom Philippines, Inc.; Director of AC Industrial Technology Holdings, Inc., AYC Holdings, Ltd., AC International Finance, Ltd., Purefoods International Limited and Probe Productions, Inc. He is an Independent Adviser to the Board of Directors of Ayala Land, Inc.

He earned his Bachelor of Science in Metallurgical Engineering from the University of the Philippines in 1967 and his Masters of Business Administration (with distinction) from the Harvard Graduate School of Business in 1971.