David Castuciano/Rappler
As Francis Lim pushes out the PSE board's old guard with his new term limit rules, Vivian Yuchengco, the long-serving broker-director insists that 'if shareholders want new directors, they can elect new directors'
Vivian Yuchengco refuses to let the Securities and Exchange Commission (SEC) decide when her nearly three-decade run on the Philippine Stock Exchange (PSE) board should end.
Days after Yuchengco and fellow veteran broker-director Eddie Gobing asked the Court of Appeals to junk the SEC’s new term limits, Yuchengco fired off at SEC Chairman Francis Lim.
Her message, stripped of the pleasantries normally exchanged in corporate boardrooms: The SEC may regulate the stock market, but it does not own it.
