Jollibee Group, one of the largest and fastest-growing restaurant companies in the world, has appointed Richard Shin as its new Chief Financial Officer (CFO).
In a statement, Jollibee said Shin’s appointment would be effective May 1.
Shin is succeeding Ysmael V. Baysa, retiring from JFC on April 30, 2022.
During Baysa’s tenure, the market value of JFC increased 15 times from P17 billion when he joined JFC in 2003 to P253 billion, making JFC one of the most valued restaurant companies in the world.
Jollibee said Shin brings nearly three decades of financial and business leadership experience across multiple industries, including FMCG, Retail, and Aquaculture.
Before joining Jollibee Group, Shin worked as the Group CFO and Executive Committee Member of Grobest Group Holdings Limited, a Private Equity portfolio company based in Taiwan and Hong Kong, China.
He also previously held Asia Pacific CFO positions in William Grant & Sons Singapore.
“As we continue our accelerated expansion, we are confident that Richard’s global experience and proven track record will help the Jollibee Group achieve its vision of becoming one of the top five restaurant companies in the world,” said Ernesto Tanmantiong, Chief Executive Officer of Jollibee Group.