JOLLIBEE Foods Corp. (JFC) is moving closer to separating its international business into a stand-alone company, choosing Hong Kong for the listing and naming Chief Financial and Risk Officer Richard Chong Woo Shin as CEO.
Shin will lead Jollibee Foods Corp. International (JFCI), which is being established as the listing vehicle for JFC’s current international business once the proposed separation is completed.
“Since the announcement on January 6, 2026 to list our international business, we have been doing the detailed work required to establish two strong, independent companies,” JFC Chairman Tony Tan Caktiong said.
“That work has reinforced our conviction in the listing and has led us to conclude that Hong Kong is the market best aligned with JFCI’s business, geographic footprint and long-term ambitions,” he added.
The company previously announced plans to separate its international and Philippine operations, and was evaluating potential venues for the listing. It is now planning a listing of JFCI shares on the Main Board of the Hong Kong stock exchange.
JFC said Hong Kong offered access to a broad base of global and regional investors, and had an established group of listed Asian consumer and restaurant companies that could provide relevant reference points for investors.
Shin currently serves as JFC’s chief financial and risk officer and CEO of JFC International. He will retain both positions until the proposed separation is completed, after which he will take on the JFCI CEO role on a full-time basis.
Shin has three decades of international finance and business leadership experience across Asia, including senior positions at William Grant & Sons, Ralph Lauren, Bacardi and Altria.
Since joining JFC, he has played a key role in the company’s financial strategy, capital allocation and international expansion. He has also led JFCI as it expanded its portfolio and geographic reach.
JFC said JFCI was being designed as a fully independent company with a lean corporate organization and capabilities focused on capital allocation, investment opportunities and portfolio priorities.
Upon implementation of the proposed transaction, current JFC shareholders are expected to receive shares in JFCI corresponding to their prevailing interest in JFC as of a designated record date, subject to applicable tax, legal and regulatory requirements.
JFC will remain listed on the Philippine Stock Exchange to oversee the company’s Philippine operations and businesses following the separation.
The proposed transaction remains subject to corporate restructuring and due diligence, market conditions and required corporate, regulatory and other approvals, including approval from the listing committee of the Hong Kong exchange.
JFC shares on Tuesday surged P2.80, or 1.87 percent, to close at P152.80 each amid a 2.31-percent rise for the benchmark Philippine Stock Exchange index.
