Food service giant Jollibee Foods Corporation (Jollibee) has announced the appointment of Arsenio Sabado as its new Chief Human Resources Officer effective Monday, December 3.
In a disclosure to the Philippine Stock Exchange, Jollibee said Sabado was appointed from outside of the company.
“He has spent 25 years in the human resources function of multinational companies here and abroad,” the fast food giant said.
According to his social media page, Sabado was head of HR at ABS-CBN Group prior to his appointment at Jollibee.
He also worked for 17 years at Philip Morris International Global Services as HR and Administration manger in 2000 to Director of Management Organization Development until 2017.
Sabado is a graduate of the University of the Philippines with a bachelor’s degree in Industrial Engineering.
In October, Jollibee announced that it hopes to generate half its sales outside its home market of the Philippines within five to seven years, up from 30 per cent now.
It also hopes to double its revenue in five years by further expanding its own chains and acquiring others.
In May, Jollibee said it was investing up to $34 million to acquire a 45 per cent stake in Singapore private equity fund Titan Dining.
The deal will give Jollibee a substantial ownershp in Tim Ho Wan Pte Ltd, the Asia Pacific master franchise holder of the Tim Ho Wan food and beverage brand.
Jollibee said the deal provides it with the opportunity to acquire a substantial ownership in Tim Ho Wan’s master franchise in the Asia Pacific region, when the term of the fund ends in seven years, through a purchase mechanism that is provided for in the agreement with Titan Dining LP.
“This investment gives JFC the opportunity to have a significant interest in the Tim Ho Wan franchise in the long term… our long-term interest in Tim Ho Wan is in line with JFC’s mission: to serve great tasting food and spread the joy of eating to everyone!” said JFC Chairman Tony Tan Caktiong.