MANILA, Philippines - With the aggressive local and international expansion of fast-food giant Jollibee Foods Corp. (JFC), its chief executive officer Tony Tan Caktiong attributes a big part of its continuing success to their chief financial officer and 2010 ING-FINEX CFO of the Year, Ysmael Baysa.
Caktiong highlights the crucial role Baysa has played, especially in reinforcing the international growth of JFC as it continues to penetrate the Chinese market with its now three fast-food brands: Yonghe King in Shanghai, Hong Zhuang Yuan in Beijing, and San Pin Wang in Nanning and Liuzhou.
“Jollibee started as a single brand and then expanded to carry different brands and eventually to other countries. The role of the CFO in our case also expanded to include controlling offshore companies of JFC, from planning investments to maximizing technology. Ysme was very instrumental in coming up with new ways of managing all of these,” says Caktiong.
Strengthening JFC’s entry into the Chinese market in 2004, Baysa worked hand in hand with Caktiong to create new corporate strategies that included landmark acquisitions like Yonghe King, a well-known Chinese-style food chain. With Baysa and Caktiong at the helm, JFC continues to be the most admired company in the Philippines with a fast-growing store network around the globe.
“Ysme was instrumental in helping Jollibee achieve milestones through the years, including our increasing stock price, to major acquisitions like Mang Inasal and our brands in China,” shares Caktiong.
Caktiong also values the qualities, business ethics and dedication that Baysa has shown since he joined the company in 2003. Baysa’s commitment, anchored on professionalism and integrity, has led to his recognition as the ING-FINEX CFO of the Year, a testament to his achievements and excellence as an outstanding finance professional.
“For a CFO, integrity is of foremost importance,” says Caktiong. “Ysme is one of the best CFOs that we have had, and it is indeed a well-deserved award. I am lucky to have the support of passionate individuals who share our vision for Jollibee, and who are always dedicated as we continue to dream big.”
Under the collaborative leadership of Caktiong and Baysa, Jollibee continues to provide families with only the best-tasting and affordable food products they will enjoy, an endeavor that Caktiong considers to be JFC’s most important achievement for the Filipino.