MANILA, Philippines – Seven Filipinas who climbed up the corporate ladder in their respective companies have made it to Fortune Magazine’s 2024 Most Powerful Women in Asia list.
The list rounded up 100 of the most powerful women — company founders, chief executive officers (CEOs), and C-suite level leaders in corporate and in other sectors across Asia Pacific. Fortune accepted nominations for this year's iteration and took into consideration the size and performance of their business, their "strategic vision," their influence on the company and its growth, and the women's reputation.
However, Fortune editor Clay Chandler noted that companies in the region are still behind their Western counterparts “by almost every meaningful measure of gender equality, including workforce participation, seniority pay, and board representation.”
Grace Wang, cofounder and CEO of the Shenzhen-based electronics manufacturer Luxshare, topped the list. Meanwhile, part-Filipino Melanie Perkins — who co-founded Australian graphic design app Canva — also made the list, ranking 12th.
Here are the seven Filipinas, most of them recently appointed as chiefs of their respective companies, who made it to the list:
Martha Sazon leads the country's only $5-billion unicorn, GCash. She took the helm of Mynt, the fintech company behind GCash, in June 2020 and has since led the company to "exponential growth."
GCash said it helped increase the banked population to 65% in 2022 from a mere 29%, pre-pandemic.
The app also made it easier for Filipinos to set up savings accounts, manage their investments in local and global funds, and has sold insurance policies on the app. It has since partnered with the Bangko Sentral ng Pilipinas and the Department of the Interior and Local Government to make cashless payments available even in local marketplaces and mom-and-pop stores across the country. (READ: The GCash effect: More middle-income earners join stock market)
"I am proud to represent the talented, and empowered women of the Philippines — all deserving to be recognized [and] discovered by the rest of the world. This also goes out to the most hardworking and purpose-driven 2,000-strong GCash barkada (friends)," Sazon said in a LinkedIn post.
Despite being the daughter of Robinsons Retail's founder and Filipino tycoon, John Gokongwei Jr., Robina Gokongwei-Pe started at the conglomerate's retail business as a receiving clerk at a Robinsons Department Store stock room. She eventually climbed up the ranks, and was appointed as president and chief operating officer (COO) of Robinsons Retail in 1997.
She took on the role as CEO in 2018. Aside from the Gokongwei's retail arm, she also holds key positions in other companies, including JG Summit Holdings, Robinsons Land Corporation, Cebu Air, and Robinsons Bank Corporation.
Gokongwei-Pe saw the company's growth in the past three decades but has announced plans to step down by January 2025.
Lorelie Quiambao-Osial started working for Shell Philippines in 2001 as a finance support advisor and climbed up the corporate ladder. After almost two decades of working there, she became the first woman to be appointed president and CEO of the company since its incorporation in 1959.
She has since not only led billion-dollar worth of investments in the company, but is also leading Shell Philippines to achieve its goal of becoming "one of the most diverse and inclusive organizations in the world."
"I joined the company 20 years ago and I have certainly had my own experiences of being a minority in various teams — being the only woman or the only Asian or the only one from my geographic location in the Philippines," Quiambao-Osial said in a 2022 interview.
"I am very much aware that the energy industry has traditionally been predominantly male and we will continue to work hard to look beyond gender, value achievements, develop talent, promote growth, recognize diversity and inclusion and ensure we enable equal opportunities," she added.
In August, Quiambao-Osial was appointed chairperson of the Philippine-British Business Council.
Anna Ma. Margarita Bautista Dy is the first female CEO of the Ayala conglomerate's real estate arm, Ayala Land, Incorporated (ALI). She officially took the helm of the company in October 2023. Prior to the top post, she was the company's executive vice president and chief operating officer.
"She played a key role in launching critical projects in our portfolio, such as BGC [Bonifacio Global City], Nuvali, Vertis, and Arca South," ALI chairman Jaime Zobel de Ayala said following her appointment as CEO in 2023.
She was also included in this year's Forbes Asia 50 Over 50 list.
Prior to joining ALI, she was vice president of the Lopezes' Benpres Holdings Corporation.
Ortiz took the helm of of Land Bank of the Philippines, the country's largest financial institution, in 2023. She is the 11th president and CEO of Landbank.
This is her first time working in the public sector, having led Standard Chartered Bank Philippines since 2016 and other senior roles in private institutions. Landbank has noted of her experience spearheading "several landmark transactions" in both capital markets here and overseas.
"I hope to bring in a fresh perspective drawn from my experience working in global organizations," she said then.
She is also currently the first vice president in the board of the Bankers Association of the Philippines.
Lourdes Gutierrez-Alfonso was appointed president of Megaworld in July 2024. She took the vacated seat of tycoon Andrew Tan, who stepped down from the position after over three decades since the company's incorporation in 1989. She joined Megaworld just six months after it was created.
Gutierrez-Alfonso previously served as the property company's chief operating officer.
"She has extensive experience in real estate and a strong background in finance and marketing," Megaworld said in the announcement of her appointment in July.
She is also appointed director in multiple subsidiaries of Megaworld.
Veteran investment banker Rhoda Huang has been leading Filinvest Development Corporation (FDC) since July 2023. She replaced Filinvest heir Josephine Gotianun-Yap as the company prepares for its path to growth.
She brings with her over three decades of experience in financial and government institutions. Before she worked at FDC, she was president of BPI Capital Corporation and branch head of investment banking for Credit Suisse Philippines.
Huang also had a 19-year stint at JP Morgan Chase.
"Succession planning has been identified as a primary strategy to ensure business continuity and the orderly futureproofing of the organization," Gotianun-Yap said.
"As we thrive in this post-pandemic revitalization phase, we look forward to Chiqui harnessing the depth of her investment banking experience which has exposed her to industries where the Filinvest group also operates." – Rappler.com
