Jollibee CFO set to retire on April 30

MANILA, Philippines — Jollibee  Foods Corp. has announced the retirement of its long time chief financial officer Ysmael Baysa effective April 30.

Baysa, who joined Jollibee way back in 2003, is one of the steering minds behind the group with initial responsibilities in corporate finance, corporate planning, risk and tax management, comptrollership, investor relations and legal division.

He will be also be resigning as compliance officer.

Baysa will be succeeded by Richard Chong Woo Shin who will be CFO effective May 1 and Valerie Amante as compliance officer effective May 1.

He is widely recognized in the industry for his work as CFO of the Jollibee Group.   In 2010, he was named CFO of the Year by the Financial Executives Institute of the Philippines (FINEX).

Baysa began his career as bookkeeper of real estate firm Citizens Development, Inc. after earning an accounting degree from Luzonian University in Lucena, Quezon.  He joined Procter & Gamble in 1978 and stayed there for 23 years before moving to Union Bank of the Philippines, where he served as a CFO from 2001 to 2003.

In 2003, he joined Jollibee and was instrumental in closing the deal to acquire Chinese food chain Yonghe King in 2004.

Meanwhile, Jollibee  announced the declaration of a regular cash dividend of P8.20525 per share for Series A preferred shares, for a total payout of P24.6 million to be given to JFC stockholders of record as of June 22.  The dividends are payable  on July 14.

It also approved  a regular cash dividend of P10.60125 per share for Series B preferred shares, for a total payout of P95.4 million and another cash dividend of P8.20525 per share for Series A preferred shares, for a total payout of P24.6 million.

Jollibee likewise declared another  regular cash dividend of P10.60125 per share for Series B preferred shares for a total payout of P95.4 million.