The Gokongwei Group celebrated another milestone in corporate governance as its companies garnered multiple recognitions at the prestigious 2024 Golden Arrow Awards accorded by the Institute of Corporate Directors (ICD).
Leading the Gokongwei Group’s performance, Cebu Pacific secured three (3) Golden Arrows, marking the third consecutive year the airline has been recognized for its exemplary corporate governance practices.
“For millions of Filipinos who trust us with their travel, this award reflects our commitment to not only offering accessible and affordable flights but also maintaining the highest standards of corporate integrity and transparency,” said Atty. Anne Romadine Tieng, Cebu Pacific’s General Counsel.
Meanwhile, both JG Summit Holdings Inc. and Universal Robina Corporation (URC) received two (2) Golden Arrows each, signifying their continued leadership in corporate governance. URC’s Vice-President, Finance Controller, and Chief Compliance and Risk Officer, Rhodora Lao, noted, “This is our third consecutive year receiving the Two-Golden Arrow award, and it reinforces our commitment to continuous improvement and corporate governance excellence.”
The Group’s real estate and retail arms continue to showcase their strong governance performance. Robinsons Land Corporation (RLC), Robinsons Retail Holdings Inc. (RRHI), RLC Commercial REIT (RCRREIT), and Altus Property Ventures Inc. (APVI) were each awarded one (1) Golden Arrow. RLC’s recognition marked its third consecutive year, while RCRREIT and Altus each received their second consecutive awards, further underlining the Group’s focus on transparency, accountability, and stakeholder trust.
“We are proud of this collective achievement that highlights the Gokongwei Group’s steadfast commitment to excellence, transparency, and responsible corporate governance,” said Lance Gokongwei, President and CEO of JG Summit Holdings Inc. and head of the Gokongwei Group. “These awards affirm our ongoing efforts to raise the bar for corporate governance in the Philippines and contribute to long-term economic growth.”
The ICD awarded companies that scored at least 80 points in the ASEAN Corporate Governance Scorecard (ACGS) assessments. These assessments evaluate key areas such as shareholder rights, equitable treatment of stakeholders, transparency, and board accountability, ensuring the recognized companies adhere to the highest standards of corporate governance.
The Gokongwei Group’s achievements at this year’s Golden Arrow Awards reflected the successes of each company and the Group’s overarching commitment to corporate governance excellence, positioning the group as leaders in the Philippine business landscape.