Jollibee Foods Corp. said Wednesday it will continue focusing on growing its business even as it moves forward with plans to spin off its international operations.
The company said the planned spin-off, which is expected to lead to the listing of its international unit on a US stock exchange by late next year, will not distract management from improving performance across both its Philippine and overseas stores.
Chief financial officer Richard Chong Woo Shin said the goal of the separation is to give each business a clearer structure, stronger focus, and better alignment with investors. This will allow faster decision-making, improved governance, and more efficient operations from the supply chain to restaurants and cafés.
Under the plan, Jollibee will be split into two independent companies. One will cover all Philippine operations and remain listed on the Philippine Stock Exchange, focusing on the local consumer market and domestic expansion. The other will handle all international businesses and operate as a global growth company, with plans to list in the United States.
Each company will have its own board, management team, and operating model. While they will share common brand principles through the same controlling shareholders, transactions between the two companies will be done on an arm’s-length basis.
Shin said preparations include regulatory approvals, audits, governance setup, and financial readiness. He stressed that the company is taking a careful and orderly approach to manage risks and avoid rushing the process.
Once the spin-off is completed, existing Jollibee shareholders are expected to receive shares in the new international company in proportion to their current holdings, subject to taxes and regulatory approvals. Shareholders will then be free to hold or sell their shares in either company separately.
