MANILA - The Gaisanos of Cebu are looking outside the family to help run its retail empire, a third-generation boss said Tuesday, hoping more professionals in management would make running the company smoother.
Metro Retail Stores Group started professionalizing management in 2010, Chairman and CEO Frank Gaisano told ANC's The Boss in an exclusive interview.
"We believe there are better professionals than we are. It is also very difficult if you have to work with the family, promotions, it's a bit complicated," Gaisano said.
"Having a professional team running the business makes it easier for making decisions, for accountability," he said.
Rival retailer SM Investments also looked outside the family when chairman Henry Sy stepped down and was replaced by his longtime chief financial officer, Jose Sio.
Gaisano also recalled to The Boss the lessons he learned from his grandmother, Modesta, who started the retail business 35 years ago along Colon Street in Cebu City.
"Frugality is one thing, the other one is being of course (being) very allergic to waste. You don’t want to waste anything, not even a grain of rice. Whatever you put on your plate, you can finish," he said.