The National Retail Conference and Expo (NRCE) 2024, organized by the
Philippine Retail Association (PRA), kicked off its second day with a highly
engaging ‘fireside chat’ that featured SM Prime Holdings Chairman of the
Executive Committee Hans Sy and his son, SM Engineering Design and Development
President Hans “Chico” Sy Jr. The two spoke informally about succession, and
about carrying on a vision and legacy as set by SM founder Henry Sy Sr.
Anecdotal, humorous, and insightful; the two speakers captivated the audience.
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(L-R): SM Prime Holdings Chairman of the Executive Committee, Hans Sy, and his son, SM Engineering Design and Development President Hans “Chico” Sy Jr., during the special session “Legacy of Guidance: How my Father Shaped My Life” at the 30th National Retail Conference and Expo (NRCE). |
How anecdotal, humorous, and light? Well, the first thing Mr. Hans
mentioned was how Friday was his regular golf day, but he had given that up in
order to make it to the NRCE event. And he proceeded to mention the recurring
theme of how the Sy family operates on the principle of “we are never forced,
but we have no choice!” And with that contradiction in terms, amidst much
laughter from the audience, insight into how the Sy family deals with
succession could be understood.
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| SM Prime Chairman of the Executive Committee, Hans Sy (right), and his son, SM Engineering Design and Development President Hans "Chico" Sy Jr. (left), share insights on Henry Sy’s legacy of guidance. |
Mr. Hans recounted working at the age of 13, and not the traditional ‘after college’. It was a family custom, and one the children would get excited about, ‘being able to help dad’. His first job at 13? Throwing the garbage out and assisting the cash clerk - and for that, he had gotten all dressed up on his first day. And Mr. Hans was quick to point out that elder sister Tessie was then the cashier. It was all about working from the ground up and understanding the operations, and experiencing what the rank and file go through on a daily basis. That was how Mr. Henry Sy wanted his children to appreciate the business.
Chico Sy then chimed in, saying that as a grandfather, Mr. Henry Sy
would show more of his human and soft side. As a third-generation member, he
did recall being exposed to the business at an early age, like walking through
SM City North EDSA when it was still a construction site. And Chico joked about
how that was a truly different time, as you can’t bring children to a job site
nowadays.
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| (L-R): SM Prime Director Herbert Sy and his sons, Herson and Hendrick, proudly show their support for the National Retail Conference and Expo (NRCE) |
Mr. Hans then spoke of the value of leading by example, something that
was instilled into them from an early age by Mr. Henry Sy, also known as
‘Tatang’. And it’s one he has taken to heart himself. He remembers how Chico’s
brother would think family dinner at 10 PM is a regular thing in most
households, as that was the time Mr. Hans would get home from work. He frankly
admitted he didn’t really have a life when he was working full time at SM.
While he is still hands-on with National University (NU) and China Bank, he was
honest to say that letting go and turning over responsibilities at SM Prime has
been rewarding, giving him more time for himself.
Chico recalled Tatang’s reminder that behind every success is a
person, and it was important to understand that person. Chico accepted that as
market leader, and working under the umbrella of a massive vision and legacy,
one has a unique set of challenges. What he remembers is how Tatang always said
that the key is to stay focused, to stay hungry, and to stay humble. As market
leader, you’re creating your own benchmark, and one has to challenge oneself
every day.
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| (L-R): Penshoppe Brand Director Brandon Liu, SM’s Shereen Sy, and SM Supermalls’ Assistant Vice President for Special Events and Tenant Marketing Hanna Carinna Sy |
To the mantra of focused, hungry, and humble, Mr. Hans then spoke of ‘malasakit,’ or being mindful of others. He mentioned how this was an added dimension by which one always conducts business. Resilient, innovative, and compassionate were the rules to also live by and embed in the company’s DNA. He reminded the audience that it should never just be about profit, of being the best, or dominating the market.
Mr. Hans recalled how all of his generation studied here in the
Philippines; and how with the first grandchild, it was him who pushed for Chico
to study abroad, convincing Tatang that Chico would learn more and could apply
it here. Chico then revealed how his grandfather took him aside and reminded
him that as the first to be sent to Melbourne, Australia, he better do well and
prove the ‘experiment’ was worthwhile, or all the other grandchildren would
never leave. Chico laughed remembering the weight on his shoulders from that
one-on-one conversation. And he smiled saying that all the other grandchildren
have since gone on to study abroad as well.
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| (L-R): SM’s Carol Sy and Shereen Sy with Golden ABC Chairman Bernie Liu |
Mr. Hans then got nostalgic, recalling how so much of his time was spent with his father and loving how Tatang was so eager to spoil the grandchildren, easing up and lavishing so much love on this third generation. Misty-eyed, the two generations of Sys spoke of shared values playing an essential role in making succession effective and rewarding.
Much food for thought from this discussion, and the learning that so much about worthy succession has as much to do with things of the heart as it does with bottom lines and expansion targets. (SM Supermalls)
