Lopez Group chairman
Amb. Manuel M. Lopez, who currently serves as Philippine ambassador to Japan, said he appreciates the work of third-generation Lopez family members, led by Lopez Group vice chairman
Eugenio Lopez III (EL3) and First Philippine Holdings Corporation chairman
Federico R. Lopez (FRL), for their “active leadership of and consideration for the entire Lopez Group.”
In a message read for him by Lopez Holdings vice president for Corporate Affairs Miguel L. Lopez, Amb. Lopez told executives attending the Lopez Group Midyear Performance Reviews that he keeps a close watch on the Group even as he attends to official duties as a civil servant. With significant parts of the globe in turmoil economically and politically, millions of overseas Filipino workers risk losing jobs and worse, physical harm.
“With these concerns, I must congratulate all of you who have done your part in ensuring our companies stay competitive amid all the challenges and negativities facing our country, our industries and our customers. I know it is not easy, but we have gone through greater turbulence in the past and have always found a way to come out victorious,” Amb. Lopez said.
He added that aside from EL3, FRL and other members of the third generation, Lopez Group chairman emeritus Oscar M. Lopez is still very much available to give advice as needed.
Be responsive In his welcome remarks, FRL recalled the strategic bet Lopez Group founder Eugenio H. Lopez Sr. made in moving out of agriculture to industry in 1961, considering that sugar was the lifeblood of the Lopez Group for almost a century. After martial law, the Group entered into new areas largely characterized as regulated monopolies, protected franchises or highly dependent on huge single customers like power generators or distributors.
“Today we have shed or monetized many of these regulated monopolies and find that all our strategic bets, whether in media, telecoms, real estate, power generation, construction or manufacturing, are placed in industries with intense local and even global competition,” FRL said.
He challenged senior executives to be responsive to the demands of business as the country and the world evolve.
“We have an economy and political system that craves more openness and transparency with competition always the recommended antidote to high prices and consumer welfare… we should be preoccupied with whether we have what it takes to tackle our respective challenges and thrive into the next century.”
Managed chaos, shared values In closing the Midyear Performance Reviews, EL3 called on executives to build organizations that encourage creativity and reward risk-taking. With “digital natives” proliferating, systems must work to motivate them and allow the proliferation of new ideas and new business models.
“What we want is ‘managed chaos’ so that new ideas will come out…We believe that there is not one business model that will dominate. Rather, there will be several business models all coexisting in the digital arena…I don’t want us to have that bureaucracy that stifles creativity. I believe the way we are organized is an advantage. We can go around those common issues like territoriality, for example, that is so prevalent in traditional industries,” EL3 said.
He stressed that no matter how very different the businesses of the Lopez Group are, with the corresponding disparate challenges, it is shared values that drive the Lopez brand. “Our values are a far more important ingredient going forward. As long as we keep our eye on the ball, that is, to be of service to the Filipino, we can never go wrong.”