(Left Photo, 2nd from the left) CNPF’s Compliance Officer, Atty. Maria Rosario Ybañez, accepts the Golden Arrow Award for CNPF.
(Right Photo, 2nd from the left) PIZZA’s Assistant Corporate Secretary, Atty. Ma. Isabel Llave, accepts the award for PIZZA.
Century Pacific Food Inc., (PSE:CNPF), one of the Philippines’ leading food and beverage companies, and Shakey’s Pizza Asia Ventures Inc. (PSE:PIZZA|SPAVI), the country’s leading full-service chain restaurant and food service group, were recently awarded by the Institute of Corporate Directors (ICD) at the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards Night. Both companies, which are part of the Century Pacific Group, were honored for their commitment to upholding exemplary corporate governance standards and practices among publicly listed companies in the Philippines.
The Golden Arrow Award is based on ACGS, which measures the performance of companies in five key areas: rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency, and responsibilities of the board. This scorecard is also aligned with the Organization for Economic Cooperation and Development (OECD) Principles of Corporate Governance.
CNPF and SPAVI both garnered two Golden Arrows this year. According to CNPF Executive Chairman Chris Po, “We are honored by this recognition as we constantly aim to do right by our stakeholders. We believe that adhering to the utmost standards of corporate governance is essential to maintaining the trust and confidence our stakeholders have bestowed upon us, which then underpins the longevity of our businesses.”
SPAVI’s two Golden Arrows marks an improvement from the previous year when the company received its first Golden Arrow Award, with President and CEO Vic Gregorio saying, “We are truly grateful for the trust and support of our shareholders and our board of directors. This recognition reflects our WOW! Culture that promotes being better than before, and we remain firmly committed to uphold good corporate governance practices currently in place and to further improve as we move forward and achieve our growth ambitions.”
Given the importance of good governance to successfully progress in their respective sustainability journeys, both CNPF and SPAVI have their Corporate Governance and Sustainability Committees in place at the board level. Headed by an independent director, this committee oversees the implementation of each company’s sustainability framework and periodically reviews sustainability risks and opportunities.
For Century Pacific, the company’s sustainability framework focuses on Protein Delivery, Planet Preservation, and People Development. CNPF’s recent initiatives include enhancing the nutrition profile of its product portfolio, expanding renewable capacity in its largest manufacturing plant, and providing seedlings and essential training to over 7,000 smallholder coconut farmers.
On the other hand, the Shakey’s Group’s sustainability framework revolves around People, Planet, and Pizza. Key programs undertaken by SPAVI include its “Love ‘Em Down” initiative to recruit individuals with Down Syndrome and other inclusive hiring activities for senior citizens and specially-abled employment, Project Near and Ready (Nerdy) to ensure that store staff live within 30 minutes from their place of work, and Shakey’s Super League, the largest intercollegiate all-girls volleyball tournament in the country promoting sports development.
“Given the footprint and reach that both Century and Shakey’s have, we aim to create positive impact an inclusive growth within our communities as good corporate governance works hand-in-hand with our sustainability initiatives. As we work on our environmental, social, and governance practices, we aim to generate greater shareholder value.” Po concluded.
