Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Mr. Virgilio Acuna as Member of the Board of Directors
On December 20, 2021, CGS International, Inc. (the "Company") ratified and
appointed Mr. Virgilio Acuna to serve as the Independent Chairman of the
Company's Board of Directors until the next annual meeting of the Corporation or
until his respective successor is duly appointed. The Board has also determined
that Mr. Acuna is an "independent director" as defined by Rule 4200(a)(15) of
the Marketplace Rules of The Nasdaq Stock Market, Inc.
Biography - Mr. Virgilio Acuna
Mr. Virgilio Acuna - Mr. Acuna most recent position prior to his retirement in
2019, was that of Department of Agrarian Reform - Regional Director, Admin
Service Director, Director IV, Career Executive Officer where he served for some
21 years. During his tenure with the Department of Agrarian Reform, Mr. Acuna
was the Head of several DAR regional offices and Head of Administrative Services
handling Personnel, Procurement, General Services and Records. Prior to that Mr.
Acuna served at Western Samar Agricultural Resources Development Program -
Department of Agriculture. He was a Project Manager for a poverty alleviation
Agri -Development Project funded by European Union in the Philippines. During
his career, Mr. Acuna has, among other things, prepared feasibility studies for
cooperative-based agricultural enterprises, facilitated start-up operations,
actual management, production, and marketing towards profitability and eventual
turn-over to cooperatives, reviewed and approved livelihood based agri-based
enterprise proposals of cooperatives, prepared agri-industrial project proposals
to be used as templates for joint venture undertakings for small and medium
enterprises. He also devoted a substantial amount of his time to assisting
Philippine NGOs seeking social development, grassroots undertakings for poverty
alleviation through enterprise development. Mr. Acuna received his AB in
Economics from the University of the Philippines in 1976.
Mr. Acuna has no family relationship with any director or executive officer, or
person nominated or chosen by the Company to become a director or executive
officer of the Company. There are no related party transactions as of the date
hereof between Mr. Acuna and the Company that would require disclosure under
Item 404(a) of Regulation S-K.
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