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| Strong Corporate Governance Practice. Jollibee Group’s Chief Legal, Ethics, and Compliance Officer Valerie Amante (3rd from right) receives the Golden Arrow Award on behalf of the company at the recent ASEAN Corporate Governance Scorecard Awards. This is the second consecutive year that the Jollibee Group has been cited for its strong corporate governance practices. |
The
Jollibee Group has once again been awarded
with a
1-Golden Arrow Recognition from the ASEAN
Corporate Governance Scorecard (ACGS) Golden Arrow Awards, acknowledging the
company’s success in responsible and transparent business practices.
Organized by the
Institute of Corporate Directors (ICD), the award recognizes the top Philippine publicly
listed companies in corporate governance based on the ACGS.
“Getting cited again by the ASEAN ACGS validates our dedication to integrity, accountability, and transparency, ensuring that we conduct business ethically as an organization. This is also consistent with our commitment to strong ESG practices that are aligned with our Joy for Tomorrow Global Sustainability Agenda, in which our business success is closely linked with our ability to create a beneficial influence on both society and the planet.” ~Ernesto Tanmantiong, Jollibee Group President and CEO
According to ICD, the
Golden Arrow is awarded to companies that achieved a score of at least eighty
points in the ACGS Assessment, which means the company has exhibited observable
conformance with the Philippine Code of Corporate Governance and
internationally recommended corporate governance practices as espoused by the
ACGS.
It measures the performance of companies in the areas of
facilitating the rights and the equitable treatment of shareholders, how they
relate to their different stakeholders, ensuring transparency and
accountability thru timely disclosure of material information, and how the
board guides the company strategically, monitors the management, and ensures
the board’s accountability to the company and the shareholders.
The scorecard is composed of 184
questions based on publicly available disclosures on the companies’ websites.
It aims to raise the corporate governance standards and practices of the
country and to make well-governed Philippine publicly listed companies
attractive to investors.
About
Jollibee Group
Jollibee
Foods Corporation (JFC, also known as Jollibee Group) is one of the
fastest-growing restaurant companies in the world. Its mission is to serve
great-tasting food and bring the joy of eating to everyone through its 18
brands with over 6,600 stores across 34 countries including the Philippines,
United States, Canada, the People's Republic of China, United Kingdom, Vietnam,
United Arab Emirates, and Australia.
The Jollibee Group has eight wholly owned
brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King,
Hong Zhuang Yuan, Smashburger); four franchised brands (Burger King, Panda
Express, and Yoshinoya in the Philippines, and Tim Ho Wan in certain
territories in China); 80% ownership of The Coffee Bean and Tea Leaf; 60%
ownership in the SuperFoods Group that owns Highlands Coffee; and 51% ownership of Milksha, a popular
Taiwanese bubble tea brand. JFC also has a business venture with
award-winning Chef Rick Bayless for Tortazo, a Mexican fast-casual restaurant
business in the United States.
The Jollibee Group, through its subsidiary
Jollibee Worldwide Pte. Ltd. (JWPL) owns 90% participating interest in Titan
Dining LP, a private equity fund that owns the Tim Ho Wan brand. The Jollibee
Group has a joint venture with the THW Group to open and operate THW
restaurants in Mainland China. Recently, the Jollibee Group has signed an
agreement to establish a joint venture company that will own and operate Tiong
Bahru Bakery and Common Man Coffee Roasters in the Philippines.
The
Jollibee Group has launched its global sustainability agenda dubbed Joy for
Tomorrow, which aims to strengthen the company’s commitment to sustainable
business practices. The agenda centers on the key pillars of Food, People, and
Planet, and consists of 10 focus areas namely: food safety, food quality,
nutrition & transparency, employee welfare, farmers livelihood, community
support, good governance, packaging & recycling, waste reduction, and
energy & water efficiency. Each focus area sets goals and initiatives that
contribute and align with the United Nations Sustainable Development Goals (UN
SDGs).
The
Jollibee Group was named the Philippines' most admired company by the Asian
Wall Street Journal for ten years. It was also honored as one of Asia's Fab 50
Companies and among the World's Best Employers and World’s Top Female-Friendly
Companies by Forbes. The company is also a two-time recipient of Gallup’s
Exceptional Workplace Award, making it the only Philippine-based company to
receive the distinction.
To
learn more about Jollibee Group, visit www.jollibeegroup.com
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