Consunji looks at CARS for successor

MANILA, Philippines — Tycoon Isidro Consunji is not looking for a long list of qualifications when it comes to choosing his successor in the DMCI Group. He simply wants the next leader to possess CARS.

Consunji, DMCI Holdings chairman and president, spoke last week on succession planning during the Shareholders’ Association of the Philippines general membership meeting.

“What do I like for my successor to be? My acronym is CARS. C is competence. They have to be competent. Then A is attitude. Attitude is when you have a problem, you have to make everybody win. Win as much as possible. R is resourcefulness because you don’t know what kind of problems you’re going to solve. So you have to learn to think on your own and be creative. And of course last is S for sincerity,” he said.

He said that he still has a few more years left before he officially retires from the DMCI Group.

Consunji, however, admitted that there is no formula or shortcut for succession planning, noting that it involves intangibles like understanding personal dynamics, aligning values and gauging the cultural fit of a leader.

He said these elements go beyond résumés, industry knowledge and skill sets.

“As the current leader passing the baton or the successor stepping into leadership, it is crucial to ensure that the transition is not only smooth but also honors the hard work, legacy and relationships that have been built over the years,” Consunji said.

Consunji said that while he has no intention of working into his 90s, he intends to spend the few years he has left before he officially retires to ensure a smooth transition that will position the DMCI Group for continued success.

In the last five years, Consunji said the group has been actively working together to identify and develop future leaders, strengthen its corporate governance and ensure that the organization is well-prepared for the challenges and opportunities that lie ahead.

He said that 330 individuals have completed management development and strategic business economics programs, many of whom now hold executive and managerial positions both within and beyond the DMCI Group.

The group has also consulted with several professional advisors and institutions, including the IMD Business School and the Asian Institute of Management, regarding succession planning in family businesses to help family members identify and establish their roles within the company.

“For our family members, I hold weekly mentorship sessions with my nephews and nieces. We evaluate business opportunities and brainstorm strategies to grow our companies,” Consunji said.

“Family members who choose to join the DMCI Group must be prepared to contribute to the organization’s success. This means having the right education and professional experience. While we do not require advanced degrees or extensive time spent working at other companies, we do expect them to bring valuable skills and contributions to the table.They must also demonstrate a strong work ethic, uphold our core values and be willing to learn and grow within their chosen or assigned company,” he said.

Consunij has already stepped away from day-to-day operations of the group and now serves as chairman across all subsidiaries to focus on strategy and long-term vision.

“While I am not ready to formally announce my successor, I do have a few names in mind. In the meantime, I am actively mentoring key individuals to build a strong bench of leaders and middle managers,” he said.