Thursday, February 2, 2023

ICD praised the Jollibee Group for its Good Corporate Governance

“We are honored to be recognized by the ICD for good corporate governance, affirming our continuous efforts to strengthen our responsible business practices as an organization. We are inspired to work even harder in further integrating ESG strategies into our actions and decisions so we can keep on serving great-tasting food and bring the joy of eating to our customers sustainably.” ~Ernesto Tanmantiong, Jollibee Group President & CEO
Jollibee Foods Corporation

The ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards recently honored the Jollibee Group for its progress in adopting more environmentally friendly, ethical, and open business practices.

The Institute of Corporate Directors (ICD), which runs the ACGS, wants to raise the country's standards for corporate governance by recognizing businesses that abide by the ACGS's internationally recommended corporate governance practices and the Philippine Code of Corporate Governance.
A company's performance in a number of areas is measured by the Golden Arrow Awards. These areas include facilitating shareholder rights and equitable treatment, ensuring transparency through timely disclosure of material information, monitoring the board's strategic direction, and holding the board accountable to stakeholders.

Tanmantiong leads an ESG Council within the Jollibee Group that was established to ensure alignment of business operations with the company’s Sustainability Agenda.
“We continue to grow in our sustainability journey and citations like the ACGS Golden Arrow Award validate our pursuit to do what is right for the company, our stakeholders, and the communities that we serve. We share this recognition with all our teams and our business partners, and we will continue to collaborate with them in various aspects of our company’s sustainability.” ~Pepot Miñana Jr, Jollibee Group Sustainability and Public Affairs Officer
To learn more about Jollibee Group’s efforts on corporate governance, visit learn more about Jollibee Group, visit

About Jollibee Group
Jollibee Foods Corporation (JFC, also known as Jollibee Group) is one of the fastest-growing restaurant companies in the world. It operates in 34 countries, with over 6,300 stores globally with branches in the Philippines, United States, Canada, the People's Republic of China, United Kingdom, Italy, Spain, Vietnam, Brunei, Singapore, Saudi Arabia, United Arab Emirates, Qatar, Oman, Kuwait, Bahrain, Indonesia, Costa Rica, Egypt, Panama, Malaysia, South Korea, India, and Australia.
Jollibee Group has eight wholly owned brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger); five franchised brands (Burger King, Panda Express, PHO24, 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 PHO24; and 51% ownership of Milksha, a popular Taiwanese bubble tea brand.
Jollibee Group, through its subsidiary Jollibee Worldwide Pte. Ltd. (JWPL) owns 90% participating interest in Titan Dining LP, a private equity fund that ultimately owns the Tim Ho Wan brand. It also has a joint venture with the THW Group to open and operate THW restaurants in Mainland China. Jollibee Group also has a business venture with award-winning Chef Rick Bayless for Tortazo, a Mexican fast-casual restaurant business in the United States.
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. In 2020, Gallup awarded the Jollibee Group with the Exceptional Workplace Award, making it the first Philippine-based company to receive the distinction.
Jollibee Group has grown brands that bring delightful dining experiences to its customers worldwide, thus spreading the joy of eating to everyone.

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