Filinvest Development picks Ysmael Baysa as new COO

MANILA, Philippines — Ysmael Baysa, the longtime former chief financial officer of homegrown fast food giant Jollibee Foods Corp., is emerging from retirement to take on a new role: chief operating officer of the conglomerate of the Gotianun family.

In a statement on Wednesday, Filinvest Development Corp. said Baysa’s entry into the company “comes at a pivotal time” as the conglomerate gears for long-term growth and expansion.

“His leadership skills will be invaluable in driving our strategic investments, ensuring operational excellence at the parent company and across our diverse holdings,” Josephine Gotianun Yap, company president and CEO, said of Baysa.

Baysa has enjoyed a distinguished career in accounting and finance, with his most notable stint being the CFO of Jollibee for about two decades.

In 2003, he joined Jollibee and was instrumental in expanding the company’s portfolio of brands. Jollibee announced Baysa’s retirement last year.

READ: Jollibee CFO set to retire on April 30

Baysa began his career as a bookkeeper of real estate firm Citizens Development Inc. after earning an accounting degree from Luzonian University in Lucena, Quezon.  

Prior to his stint at Jollibee, Baysa joined Procter & Gamble in 1978 and stayed there for 23 years holding various local and regional positions.

He later moved to Union Bank of the Philippines, where he served as a CFO from 2001 to 2003.