MANILA, Philippines – After nearly 30 years at the helm of Robinsons Retail Holdings Incorporated (RRHI), Robina Gokongwei-Pe will be stepping down as chief of the Gokongwei group’s retail arm effective January 1, 2025.
Gokongwei-Pe, 63, also known for being the biggest supporter of the formerly doormat UAAP college basketball team UP Fighting Maroons, was appointed president and chief operating officer (COO) of Robinsons Retail in 1997, and took on the job as chief executive officer (CEO) in 2018.
She is the eldest daughter of the late Filipino tycoon, industrialist John Gokongwei, who passed away in 2019 at 93.
Gokongwei-Pe started working as a lowly receiving clerk in Robinsons Department Store’s stock room because her father wanted her to know the whole retail business. “How will you be able to do your job at the top later if you don’t know what people down there are doing?” he told her daughter. His son Lance Gokongwei’s first job was putting price tags on women’s bras. Lance is now CEO of conglomerate JG Summit Holdings Incorporated, one of the largest employers in the Philippines.
As the Gokongweis’ Robinsons Malls chain was growing in the nineties, an urban legend went around about a “half-human, half-snake creature” – supposedly Gokongwei-Pe’s “twin” – that stalked shoppers in the ladies’ dressing rooms of Robinsons Galleria in Ortigas. She would shoot down the story in 1991, saying she would give the mall to whoever could show the creature.
She would make light of the urban legend decades later with the renovated Robinsons Galleria Ortigas posting a photo of her with a plush toy snake around her neck.
Gen X takes over
Replacing Gokongwei-Pe by next year is Stanley Co, 47, a Gen X who assumed the role of COO last August 2023. He is not related to the Gokongweis.
Co is an alumnus of the University of Sto. Tomas (UST) where he finished his degree in Commerce in 1998. He also has an MBA from De La Salle University (DLSU) in Manila.
Gokongwei-Pe will transition to being the chairman of Robinsons Retail, replacing her brother Lance Gokongwei. Mr. Gokongwei will become board adviser of RRHI also by January 1, 2025. Their uncle, James Go, will stay as vice chairman of RRHI.
Robinsons Retail is one of the largest Philippine retail companies. It includes Robinsons Supermarket, Robinsons Department Store, Robinsons Appliances, and Southstar Drug stores accessible in the Gokongwei family’s Robinsons Malls, the second-largest mall chain in the country.
It also has under its wing international brands such as Handyman Do it Best, True Value, Toys “R” Us, Daiso Japan, Pet Lovers Centre, and No Brand, and beauty brands Benefit, Shiseido, and Clé de Peau Beaute.
In one of the biggest retail takeovers in the Philippines, Robinsons Retail bought 100% of grocery chain Rustans Supercenter Incorporated from the Tantoco family in 2018.
Robinsons Retail, with 21 subsidiaries, had 2,393 stores combined as of end of 2023.
Co has been with Robinsons Retail for 21 years. He joined the company’s DIY business unit in 2003 and became the group’s general manager in 2008. Twelve years later, he assumed the post of managing director of the retail firm’s food segment.
“With Stanley at the helm, drawing on his years of extensive experience and service to the company, I am confident that Robinsons Retail will continue to deliver long-term value for our customers, partners, and the communities we serve. I would also like to thank Lance for his sterling example as chairman, and I hope to fulfill his role as well as he has,” Gokongwei-Pe said.
Her brother Lance said: “A commitment to continuous improvement and a dynamism to embrace change are key attributes of a good leader. Stanley embodies these qualities and his vision for Robinsons Retail aligns perfectly with the Company’s long-term goals. We, the Board of Directors, have no doubt that Stanley will usher in sustained growth and innovation for the Company. We thank Robina for her years of service as President and CEO, and look forward to her continued guidance as Chairman.”
Co said he was honored by the appointment.
“Leading Robinsons Retail into a new, dynamic chapter is a tremendous honor and responsibility. I hope to continue building on our strong foundation as a trusted partner of choice as we unlock a future brimming with exciting possibilities and joyful shopping experiences,” said Co.
The leadership transition was approved during Robinsons Retail’s board meeting on July 25, Thursday.
Robinsons Retail recorded a core net income of P5.64 billion in 2023, up by 1.5% from the year prior.
Robinsons Retail’s supermarket business contributed the biggest to the company’s revenues, accounting for 56% while drugstores contributed 17% or a combined 73%, nearly three-fourth of revenues. Gross revenues reached P193 billion in 2023 from P179 billion in 2022. – Rappler.com
