spot_img
29 C
Philippines
Thursday, March 28, 2024

Tessie Sy is Management Man of the Year

- Advertisement -

Of some 40 Management Man of the Year awardees chosen by the Management Association of the Philippines in the last half century, the one I am most happy about and truly proud of is Teresita Sy-Coson, the chair of BDO Unibank and first vice chairman of the conglomerate SM Investments Corp. (SMIC).

Tessie Sy is the 2016 MAP Management Man of the Year, the second woman to be so honored, after Lilia de Lima, the director general of the Philippine Economic Zone Authority in the last 21 years.   

Lilia would have been a cinch for an extended term as Peza boss, except that her surname is De Lima.  Also, Lilia’s being MAP Management Man was somehow diluted when the MAP plum was split with Ramon “Boy Blue” del Rosario in 2010.  This is not to diminish Boy Blue’s award though.  

In 1999, the MAP Management Man of the Year was also split, by Henry Sy Sr., Tessie’s legendary dad, and Delfin Lazaro, the top finance honcho of the Ayalas.  

The Ayala group enjoys a large chunk of the MAP trophies. It has at least six MAP Management Men of the Year—led by the father and son tandem of Jaime Zobel de Ayala (1987) and Jaime Augusto Zobel de Ayala who split the award with George SK Ty of the Metrobank Group in 2006.  

- Advertisement -

The other Ayala men who have earned the MAP’s nod as top-tier management whizzes are: Del Lazaro (1999), Jose L. Cuisia Jr. (2007), Antonino T. Aquino (2009), and Aurelio R. Montinola III.  Does this make the MAP award an old-boy network of the Ayalas? Is Ayala the best managed company locally?  

When will the likes of Eduardo Cojuangco, Ramon Ang, Carlos Chan, Eddie Gaisano, or Injap Sia be recognized?

The next biggest group of MAP awardees are the central bankers—Jobo Fernandez  (1989), Gabriel Singson (1998), Rafael B. Buenaventura (2004), Jose L. Cuisia Jr. (2007), and Amando M. Tetangco, Jr. (2015).  

How come when the economy is in deep sh*t or deep recession, the central bank governor gets an award?  How come when the economy is in a boom, the central bank governor also gets an award? 

Is managing a crisis as difficult as managing a boom?  Isn’t a crisis a result of management failure? If a boom takes place in spite of what the financial or economic manager is doing, should he be awarded? I am confused.  I am took three semester of MBA units at Ateneo and have covered the economy and business for the past 46 years, so I sometimes pretend to know management. MAP has more than 700 CEOs in its roster, so it should know better.

This year, Tessie Sy is the solo winner of the Management Man of the Year.  This time, MAP got it right, 100 percent.  MAP cited Tessie Coson for:

1. Steering the SM Group’s retail business to greater heights with her over four decades of retail experience;

2. Transforming the SM Group’s property business into one of the largest integrated property developers in Southeast Asia with investments in malls, residences, commercial buildings, leisure and tourism;

3. Her valuable contribution in sustaining the BDO’s position as the leading bank in the Philippines;

4. Her leadership role in the substantial contributions of the SM Group of companies to national development, job creation and income generation through its huge investments in real estate, banking, shopping malls, hotels, convention centers, and gaming;

5. Strengthening the identity of companies under the SM Group as socially responsible corporate citizens through the SM Foundation’s developmental programs on education, livelihood, health and wellness, and the BDO Foundation’s programs in the areas of relief operations, education, shelter and livelihood which have improved the lives of many Filipinos all over the country; and

6. Her contribution to re-shaping national values through her track record of integrity, professional competence, and strong leadership.

BDO is the Philippines’ largest bank.  SMIC is the largest mall operator and department store operator, largest retailer, property developer, and largest Philippine investor in China. The largest listed company in stock market capitalization.  Its focus is the mass market offering essential services such as food, clothing, housing and finance.  It has also moved into mining and casinos.

In a speech at the Nomura Investment Forum, June 8, 2016, Tessie Sy expressed optimism about the Philippines.  She related:

“In our group, SM Investments Corp., (SMIC), we look to the future with optimism. We believe this is a great time to expand our mall, retail and banking businesses. The Philippines has largely been driven by domestic consumption, which comprises 70 percent of the GDP. With the current manageable inflation and with increased government spending, household spending will further grow.

There has been a notable rise in the middle class segment, especially in rural areas due to remittances and increased employment, which have in turn increased disposable income. There is also an emergence of small and medium enterprises, which provides goods and services to our stores, and increases occupancy in spaces inside our malls. The demand for credit facilities from BDO for businesses and personal credit has been strong.

Our business is in customer service, be it retail, property—which includes malls, residences, and hotels—and banking. We have been constantly innovating according to customers’ demands, making our products available for their aspiration of affordable luxury.

Beyond business, through our SM and BDO foundations, we work with the local government and private agencies in areas we are located to provide social and environmental sustainable programs to help uplift communities.

This is made possible because we have strong capable teams within each of our business units who provide synergistic activities with each other. These businesses are responsible for the employment of around 500,000 employees directly and indirectly through our suppliers and tenants. With increased customer demands, we expand and hire more people.

We believe there are many new opportunities in the Philippines. We look at the election of each new government as a periodic review of our government program, much like in the corporate world. We do not look at it as an interruption in the Philippines, as each president build on the work of the previous one.

With President Duterte, there is a continuation of current macroeconomic policies, plus more emphasis on programs that were not finished by the outgoing government.

Barring the challenges that may be brought about by climate change and global geopolitical risks, our economy will continue its growth due to strong fundamentals. Our business plan will continue.”

 

biznewsasia@gmail.com

- Advertisement -

LATEST NEWS

Popular Articles