Former Jollibee CFO is Filinvest's new COO

Filinvest Development Corporation (FDC), the investment arm of the Gotianun Group, has hired former Jollibee Foods Corporation Chief Finance Officer Ysmael V. Baysa as its new Chief Operating Officer.

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Filinvest Development Corporation COO Ysmael V. Baysa

Prior to Baysa’s appointment, FDC did not have a COO in its list for the firm’s management team and executive officers. FDC said his appointment comes at a pivotal time as FDC gears for long-term growth and expansion.

In a disclosure to the Philippine Stock Exchange, FDC said Baysa has worked in the consumer sector in the fields of Accounting and Finance and brings with him several years of experience working on the local and international operations of Procter & Gamble and Jollibee.

At P&G, he occupied various local and regional positions, the most notable of which is as Head of Finance for the Philippines, Malaysia and Singapore.

More recently, he was Chief Finance Officer of JFC, Asia’s largest restaurant company with 18 brands and 6,250 restaurant outlets, with presence in 34 countries. He retired in April 2022.

Currently, Baysa also holds positions as member of the various Boards of Directors or Trustees of Jollibee’s wholly owned subsidiaries and joint ventures, including Smashburger (U.S.), Coffee Bean and Tea Leaf (Singapore, US and Ireland), Jollibee Group Foundation and other smaller subsidiaries both in the Philippines and in China.

FDC said it aims to capitalize on emerging opportunities and leverage its diverse portfolio to create long-term value and contribute to a sustainable future.

It added that, the appointment of Baysa as COO further strengthens FDC's leadership team, equipping the company with a seasoned professional who can further drive its strategic objectives.

"We are pleased to have Mr. Baysa join FDC as our new Chief Operating Officer. His leadership skills will be invaluable in driving our strategic investments, ensuring operational excellence at the parent company and across our diverse holdings. He will also play a vital role in guiding our corporate governance and sustainability initiatives," said FDC President and CEO Josephine Gotianun Yap.

In his new role as COO, Baysa will be responsible for overseeing FDC's day-to-day operations, implementing strategic initiatives, and driving the company's growth agenda.

With his proven track record and deep industry knowledge, FDC said he is poised to contribute significantly to the company's continued growth.

Meanwhile, FDC also disclosed the appointment of Daniel Ang Tan Chai as Senior Vice President and Chief Investment Officer. He was FDC’s former Deputy Chief Finance Officer.

Prior to joining FDC, he was Executive Vice-President and Chief Finance Officer of Philippine Bank of Communications.

He also served as Senior Vice-President and Chief Finance Officer for Philippine Airlines, and Air Philippines Express, First Vice-President and Chief Finance Officer of Metrobank Card Corporation, and Financial Control of Global Consumer Bank of Citibank, N.A. - Philippines.