Lance Gokongwei
Lance Gokongwei | |
|---|---|
| Born | November 23, 1966 Manila, Philippines |
| Occupation(s) | Entrepreneur, business executive |
| Years active | 1988–present |
| Known for | President and CEO of JG Summit Holdings, Inc. |
| Notable work | Lessons from Dad, John Gokongwei Jr. |
Lance Yu Gokongwei (born November 23, 1966) is a prominent Filipino entrepreneur currently holding the position of President and CEO at JG Summit Holdings, Inc. since 2018. As the sole male offspring of businessman John Gokongwei Jr., he belongs to one of the Philippines' most affluent families alongside his siblings.
Early life
Gokongwei was born in Manila as the second child among six siblings. He stands as the successor to the business empire established by his father, JG Summit Holdings, while his mother, Elizabeth, played a key role in founding Robinsons Department Store. His education began at Xavier School, where he studied until his sophomore year of high school, after which he completed his final two years in Singapore.
He earned a double degree in Finance and Applied Science from the University of Pennsylvania in 1988, graduating summa cum laude.
Business career
Starting his professional journey as a management trainee at Universal Robina Corporation (URC), Gokongwei initially focused on distributing Jack ’n Jill snacks to supermarkets and local sari-sari stores.
Universal Robina
During the late 1990s, he advanced to general manager of URC’s branded food division, spearheading the development of beverage products. In 2004, under his guidance, URC introduced C2, a ready-to-drink tea that successfully challenged international cola brands and prompted an increase in production capacity.
Appointed CEO of URC in 2013, he forged alliances with Japan’s Calbee and France’s Danone in 2014 to expand into potato chips and beverage markets. Additionally, URC acquired New Zealand’s Griffin's Foods for NZ$700 million (approximately $609 million), marking its entry into the South Pacific region. However, after five years, the collaboration with Calbee ended due to unprofitable operations in the Philippine market.
In 2021, URC further expanded by purchasing Malaysia’s Munchy Food Industries for 1.9 billion ringgit ($454 million), establishing itself as Malaysia's foremost biscuit producer.
Cebu Pacific Air
In 1996, Gokongwei was entrusted with launching the budget airline Cebu Pacific Air. Despite facing a devastating crash in 1998 that resulted in 104 fatalities, Cebu Pacific emerged as the Philippines’ largest airline by 2010.
He stepped down as president and CEO of Cebu Pacific in December 2022. Earlier that year, he participated in a consortium that proposed a ₱267 billion modernization plan for Manila’s Ninoy Aquino International Airport; however, the government dismissed the proposal in July.
JG Summit Holdings
In 2018, Gokongwei assumed leadership as CEO of JG Summit Holdings, a diversified conglomerate with business interests spanning consumer foods, agro-industrial goods, real estate development, hospitality, telecommunications, petrochemicals, aviation, and power generation.
Robinsons Land
Lance Gokongwei took over as president and CEO of Robinsons Land Corp. in January 2024 following the resignation of his cousin Frederick D. Go, who left to head the Office of the Special Assistant to the President for Investment and Economic Affairs. Gokongwei relinquished his role as president and CEO on February 1, 2025 but continued serving as chairman. His successor was Mybelle V. Aragon-GoBio.
Energy
In May 2024, Gokongwei joined the board of SP New Energy Corp. (SPNEC), a subsidiary under Solar Philippines—the nation’s largest solar energy provider. Since 2013, he has also been a director at Manila Electric Co. (Meralco), following JG Summit’s acquisition of a substantial stake in this power utility company.
Sustainability
Gokongwei is a member of the National Advisory Council for WWF Philippines and, in 2020, became a board member of the Global Reporting Initiative (GRI), representing the corporate sector.
Philanthropy
As chairman of the Gokongwei Brothers Foundation, the Philippines' largest private STEM scholarship provider, Gokongwei spearheads programs targeting support for 10,000 educators and one million students by the year 2025.
Awards
In 2024, Gokongwei was honored with the EY-Bank of Singapore ASEAN Entrepreneurial Excellence Award, which celebrates influential businesses across Southeast Asia. His previous distinctions include Ernst and Young's Entrepreneur of the Year in 2005, Finance Asia's Best CEO awards in both 2015 and 2018, as well as Institutional Investors' Best CEO accolade in 2015.
Personal life
Gokongwei is married to Jay Leong, and together they have two children. He authored Lessons from Dad, John Gokongwei Jr. in 2016 and also contributed to the book Letters to My Children.
External links
- Lance Gokongwei profile on Forbes