Preserving family legacy: Lance Gokongwei takes helm at JG Summit
Bilyonaryo Lance Gokongwei is ready to take over the reins of the family?s growing business empire, spanning from shopping malls, snacks and beverages, real estate, airlines, banking to petrochemicals.
The only son of industrialist John Gokongwei, 51-year old Lance has been named chief executive of JG Summit Holdings Inc. effective May 14, to secure the legacy of his father, who founded the company 60 years ago.
He will replace his uncle James Go, who will remain as chairman of the company which has a presence in Southeast Asia.
Founded in 1957, JG Summit has grown to be one of the country?s largest conglomerates, amassing an unprecedented investment warchest over the years. With a market cap of P438.8 billion, JG Summit also has investments in telecommunications.
Lance, who joined the family business in 1988, is responsible for steering Cebu Pacific and Universal Robina Corp. to great heights.