Jollibee Foods Corp. (JFC), the Philippines’ largest fast-food chain, announced Tuesday it will spin off its entire overseas business and list the new entity on the Main Board of The Stock Exchange of Hong Kong Limited.
The separate listing vehicle, to be known as Jollibee Foods Corp. International (JFCI), will hold all of the company’s existing international operations. The move creates two independently listed businesses, each with its own clear strategic focus, investment profile, and ability to pursue tailored growth opportunities.
JFC said Hong Kong was chosen for its deep capital markets, strong brand recognition across Asia, and access to a broad base of global and regional investors — ideal to support growth spanning Asia and beyond, including continued expansion in North America. The company noted the market best matches JFCI’s business footprint, growth potential, and long-term strategic goals.
Richard Chong Woo Shin, currently JFC’s chief financial officer and chief risk officer, will take the helm as chief executive officer of JFCI once the separation is completed. Shin brings 30 years of international finance and leadership experience across consumer, retail, and related industries, with prior senior roles at William Grant & Sons, Ralph Lauren, Bacardi, and Altria. Since joining JFC, he has been central to financial strategy and capital allocation. A chartered accountant and recipient of the 2024 ING-FINEX CFO of the Year award, Shin holds advanced degrees from McGill University and Concordia University. He will retain his current JFC posts until the separation is finalized, before moving to JFCI full-time.
JFCI will operate as a fully independent company with a streamlined corporate structure, built to govern and support its growing portfolio of international brands.
“Since we first announced plans to list our international business last January, we have laid the groundwork to build two strong, separate companies,” said JFC chairman Tony Tan Caktiong. “That process has strengthened our confidence in this path. Hong Kong is the right home for JFCI, and Richard’s appointment — alongside the new team and structure we are putting in place — positions both companies well for their next chapters of growth.”
The spinoff remains subject to final regulatory and listing approvals, with the company advancing detailed preparations to complete the separation smoothly.
