Cabinet appointment spurs Gokongwei group reshuffle

MANILA, Philippines — The Gokongwei Group will soon name a new president and CEO for Robinsons Land Corp. to succeed Frederick Go, who has been appointed secretary of the newly created Office of the Special Assistant to the President for Investment and Economic Affairs.

Go will step down as big boss of RLC as well as from his other posts in numerous other Gokongwei-owned companies, which divestment is required of top government officials. 

Insiders told The STAR that Gokongwei Group chairman Lance Gokongwei will likely take the helm of the listed property giant, one of the Gokongwei empire’s crown jewels.

Gokongwei is currently the chairman of RLC and president and CEO of RLC parent company JG Summit Holdings Inc.

As of press time, however, RLC has yet to make an official announcement regarding Go’s successor.

Malacañang announced the appointment of Go on Monday following the establishment of the SAPIEA through Executive Order 49.

“His role will ensure the effective integration, coordination and implementation of the various government investment and economic policies and programs of our country,” according to the Palace.

Prior to this, he was appointed as presidential adviser on investment and economic affairs and has been joining President Marcos on his trips abroad.

With his new role, Go will chair the Economic Development Group and will closely supervise the Department of Finance, National Economic and Development Authority, Department of Trade and Industry and the Department of Budget and Management and their respective agencies. 

Go, 54, is credited for building RLC from the ground up to the sprawling property giant that it is now. He grew RLC from only five assets when he took over to a P223-billion company with over 53 shopping malls and over 100 developments.

He is known in business circles as the favorite nephew of the late retail and airline tycoon John Gokongwei.

Aside from RLC, he also heads two other listed firms – RL Commercial REIT and Altus Property Ventures.

This is on top of his other concurrent roles – chairman of the Clark Airport and director at Cebu Air and Manila Electric Co. He also heads RLC’s international business in China.