SM Investments Names New Female Independent Director to the Board

​SM Investments Corporation shareholders elected Marife B. Zamora as an independent director of the Board during the company’s Annual Stockholders’ Meeting held on 30 April 2025.

Ms. Zamora’s election ensures that SM Investments’ Board continues to maintain a majority of independent directors, exceeding regulatory standards and reinforcing SM’s commitment to good governance. She joins Atty. Lilly K. Gruba as the second female independent director.
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“I’m truly honored to join SM’s Board,” said Ms. Zamora. “SM mirrors the energy and growth journey of the Philippine economy. I look forward to contributing to a growing company deeply committed to independence and strong corporate governance.”

A seasoned executive, Ms. Zamora brings decades of leadership in telecommunications, insurance, and business process outsourcing. She is also a known advocate for women in technology and leadership, serving on the Board of Trustees of the FTW (For The Women) Foundation and as Co-Founder of the Filipina CEO Circle, a network of women business leaders driving positive change.

Ms. Zamora succeeds Tomasa “Tammy” H. Lipana after the latter completed her maximum term as an independent director.

“The Board extends its deepest gratitude to Director Lipana for the nine years of dedicated service and invaluable insights she has provided to the company,” said SM Investments Chairman Amando M. Tetangco, Jr. “We also welcome Ms. Zamora whose broad experience and strong track record will benefit the group.”

SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.

SM’s retail operations are the country’s largest and most diversified, consisting of grocery stores, department stores and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels, and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, the fourth largest private domestic bank.