Co new RRHI CEO; Gokongwei-Pe moves up
The Gokongwei heirs are set to hand over the reins of Robinsons Retail Holdings Inc. to Stanley Co, the company’s current chief operating officer, after Robina Gokongwei-Pe’s nearly three-decade stint.
Robinsons Retail, one of the country’s supermarket and specialty store giants, on Friday said Co’s appointment as president and CEO would take effect on Jan. 1.
He will replace Gokongwei-Pe, who was Robinsons Retail president and COO for 21 years before she was appointed CEO in 2018.
In turn, Gokongwei-Pe will succeed her brother, Lance Gokongwei, as chair of the Robinsons Retail board.
Lance, who is also the president and CEO of the family conglomerate JG Summit Holdings Inc., will remain in Robinsons Retail as board adviser.
“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,” Gokongwei-Pe said in a statement.
Co will likewise complete the company’s nine-seat board of directors.
Co, who earned his bachelor’s degree in commerce from the University of Santo Tomas in 1998, began his 21-year career at Robinsons Retail as division merchandise manager of the Do-It-Yourself segment in 2003.
He was later appointed managing director of the food segment in September 2020, then COO in August last year.
“Leading Robinsons Retail into a new, dynamic chapter is a tremendous honor and responsibility,” Co said.
“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,” he added.
Gokongwei patriarch John Gokongwei Jr. established Robinsons Retail in 1980, when its portfolio consisted of a small department store in the capital now known as Robinsons Place Manila.
The P52-billion company’s brands include Robinsons Supermarket, The Marketplace, Southstar Drug and Uncle John’s.
Robinsons Retail’s core earnings in the first quarter ended at P1.2 billion, up by 8.5 percent.
This excludes a one-time gain from Robinsons Bank’s merger with Bank of the Philippine Islands that resulted in the holding firm’s net income growing nine and a half times to P5.1 billion.
