Handling business and success the MVP way
As a business tycoon and Filipino luminary, Manuel V. Pangilinan, or MVP as he is more commonly known, is a testament to the power of determination, grit, and doing what needs to be done while guided by unwavering virtues.
Last year, he admitted that he was contemplating stepping down from his many, influential roles in the companies he heads, including conglomerates First Pacific Company Limited (First Pacific) and Metro Pacific Investments Corp. (MPIC), to put more focus onto his personal life as he approaches his golden years.
Yet, as early this year, he once again took the reins as PLDT President and CEO after Al Panlilio resigned from the position due to health concerns. This was only two years after MVP supposedly retired from being the head of the telecommunications giant altogether.
Mr. Pangilinan said that he is being very careful about choosing the next person to succeed him in this role, as this is a “decision that will affect the company long-term.”
“This is not just making an investment or buying an equipment; so, no, it’s difficult because you have to look at the future in terms of the successor. I know that he should be younger than I am, much younger, should be steeped in IT, have an excellent business sense,” he said in press briefings.
Meanwhile, he was also busy overseeing the delisting of MPIC from the Philippine Stock Exchange after majority shareholders First Pacific through its affiliate, Metro Pacific Holdings, Inc., Ty-led GT Capital Holdings, Inc., a consortium including Mitsui & Co., Ltd. and MIG Holdings, Inc. (MIG) offered to buy out shares held by the public.
The delisting comes after First Pacific expressed that the intrinsic value of MPIC’s core investments in infrastructure in the Philippines has not been fully reflected in MPIC’s share price for some time. MPIC owns significant shares in Meralco; Metro Pacific Tollways Corp. (MPTC), the largest toll road developer and operator in the Philippines; Metro Pacific Health Corp., the largest private hospital operator in the Philippines; Maynilad Water Services, Inc., its water distribution arm; and other assets.
After the delisting, MVP noted that MPIC plans to list MPTC, as well as Maynilad, by 2026.
The MVP way
That he would be so willing to come back and postpone his well-deserved retirement comes as no surprise, however. This discerning criteria for excellence is exactly what led his companies — the likes of Smart, Meralco, and Maynilad, among many others — to become undisputed juggernauts in their respective fields.
Speaking to graduating students at Manila Tytana Colleges, he once said of his career, “Success springs from old-fashioned values — values as fundamental as being honest and truthful — with yourself and with others. And so is being diligent, hard-working and disciplined. But most of all, success is about passion — passion to succeed, passion for excellence, passion to compete.”
Born into modest beginnings, MVP excelled academically. He earned a Bachelor of Arts in Economics from Ateneo de Manila University, graduating with honors, and eventually went to study in the United States to pursue an MBA. He landed a scholarship at the prestigious Wharton School of Finance and Commerce, where he earned his MBA as a Procter & Gamble Fellow.
MVP’s professional journey began at Philippine Investment Management Consultants, Inc. (PHINMA), where he served as an executive assistant to the president for six years. His quest for greater challenges led him overseas once again to Bancom International Limited in Hong Kong, a Philippine investment bank.
It was during this period that he founded First Pacific in 1981, starting from a modest 50-square-meter office with a small team. His vision and leadership transformed First Pacific into a major conglomerate with diverse investments across Southeast Asia, including PLDT, Indofood, and MPIC.
Under his stewardship, First Pacific’s investment portfolio flourished. PLDT became the largest fixed broadband network and wireless provider in the Philippines, while Indofood Sukses Makmur Tbk emerged as Indonesia’s largest vertically integrated food company and the producer of the global instant noodle brand Indomie. MPIC’s investments spanned critical sectors like electricity, toll roads, water distribution and healthcare, cementing its status as a leader in Philippine infrastructure.
MVP’s influence eventually extended beyond corporate boardrooms as he took leadership roles in companies such as Meralco, Maynilad, and Philex Mining Corp. He also guided significant ventures in media, healthcare, and energy, demonstrating a unique ability to navigate and excel in diverse industries.
Currently, his portfolio includes positions as Chairman, President and CEO of MPIC, PLDT, Inc., Smart Communications, Inc., ePLDT, Inc., PLDT Communications and Energy Ventures, Inc., Manila Electric Company (Meralco), Maynilad, MPTC, NLEX Corp., and Philex Mining Corp.
More than that, MVP also chairs the Philippine Business for Social Progress (PBSP) and co-chairs the Philippine Disaster Resilience Foundation (PDRF), playing a crucial role in national recovery efforts during crises, including the COVID-19 pandemic. His initiatives through the Tulong Kapatid alliance and partnerships with the Department of Health have proven his dedication to humanitarian causes.
He serves as chairman of the PBSP, the PLDT-Smart Foundation, Inc., One Meralco Foundation, Inc., the Makati Medical Foundation, Inc., and the San Beda College Board of Trustees. He co-chairs the US-Philippine Society, the Board of Trustees of the Stratbase Albert del Rosario Institute, and the Philippine Disaster Resilience Foundation (PDRF). The Philippine Business for Education (PBED) also counts MVP as a director.
Due to his achievements and contributions to the nation, the Philippine Air Force awarded him the rank of Lieutenant Colonel (Res) in a promotion list approved by former President Rodrigo R. Duterte in July 2021. He received the Order of Lakandula with the rank of Komandante from the Office of the President of the Philippines in 2006, and he was named Management Man of the Year by the Management Association of the Philippines in 2005.
He also received the First Honorary Doctorate Degree in Management from the Asian Institute of Management in 2016, an Honorary Doctorate in Science from Far Eastern University in 2010, and an Honorary Doctorate in Humanities from Holy Angel University in 2008, Xavier University in 2007, and San Beda College in 2002.
Even as he plans for a quieter life, his influence on Philippine business and society will no doubt continue to resonate. His legacy is one of visionary leadership, transformative impact, and a steadfast commitment to uplifting the Philippine economy.
But for now, he’s still in the game. — Bjorn Biel M. Beltran