CAB remembered for leadership, public service

 

The ICTSI community is mourning the passing of Cesar Augusto Buenaventura, widely known as CAB, who passed on December 10. CAB was the first Filipino chief executive officer and chairman of Shell Philippines and later served on the Monetary Board of the Bangko Sentral ng Pilipinas. His career included senior roles in private industry and public service, as well as board positions in major corporations.

In 1991, CAB was appointed Honorary Officer of the Order of the British Empire by Her Royal Majesty Queen Elizabeth II, citing his professional achievements and public service.

At ICTSI, CAB served for many years as an independent director and as a trustee of the ICTSI Foundation. He chaired the Related Party Transactions Committee and served on the Audit Committee, Corporate Governance Committee, ESG Sub-Committee, and the Board Risk Oversight Committee. His work with the Foundation included programs related to education, youth development, and sports.

One of CAB’s few final public appearances was last September, during the launch of the ICTSI Intercollegiate Tour. An avid golfer, CAB was involved in bringing together Pilipinas Golf Tournaments Inc. and the Philippine Golf Foundation, a partnership that led to the creation of the tour.

In early 2024, CAB published a three-volume memoir, I Have a Story to Tell, edited by Manuel L. Quezon III. Written initially for family and close friends, the memoir later reached a wider audience. It covers his early years, his career in industry and governance, and his reflections later in life, set against developments in Philippine corporate and economic history.

In the memoir, CAB grouped the principles that guided him into four sets of “Top 10s,” covering life, professional advancement, leadership, and advice. They are reproduced below.

 

10 LESSONS GROWING UP

  1. Know your roots.
  2. Respect your elders.
  3. Learn to appreciate what you have.
  4. You cannot choose your relatives, but you can choose your friends.
  5. Be a good listener.
  6. Don’t be a poor loser.
  7. Learn how to dance.
  8. Have a role model.
  9. Learn how to share.
  10. Learn how to pray.

TOP 10 THINGS TO BEAR IN MIND WHEN CLIMBING THE RANKS

  1. Always be on time.
  2. Don’t be afraid to make mistakes—but learn from them, and don’t make the same mistake twice.
  3. Own up when you make a mistake and accept the consequences—don’t pass the buck.
  4. Trust is not a given; it is earned.
  5. Learn to be a team player.
  6. Don’t be an eager beaver—don’t try to impress people with your knowledge in every subject.
  7. Don’t step on anyone on your way up or get ahead at someone else’s expense.
  8. Don’t butter up the boss or do things just to please him.
  9. Don’t be discouraged by setbacks or disappointments.
  10. There is no substitute for hard work and discipline.

TOP 10 THINGS EVERY CEO NEEDS TO KNOW AND DO

  1. Commit loyalty to the institution, while considering the interests of stakeholders and the general public.
  2. Set a clear vision and long-term goals, then lead, inspire, motivate, and delegate.
  3. Protect your name and reputation; credibility is built over time.
  4. Be a good listener.
  5. Verify facts carefully, then act with judgment.
  6. Lead with emotional intelligence:
    a. Praise in public; admonish in private.
    b. Give people second chances.
    c. Be firm and compassionate.
    d. Preserve self-respect and confidence.
  7. Plan for succession and identify high-potential performers early.
  8. Build networks across business, government, and academe, and remain active in civic life.
  9. Maintain composure in public, practice forgiveness, and say “I am sorry” when appropriate.
  10. Keep balance through rest, reflection, and time with family.

10 RULES TO BEAR IN MIND WHEN GIVING ADVICE

  1. Allow compromise without surrendering principles.
  2. Focus on long-term relationships rather than single transactions.
  3. Prepare for unexpected outcomes.
  4. Practice fairness and ensure it is clearly seen.
  5. Accept that solutions are rarely perfect.
  6. Treat your word as a binding commitment.
  7. Conduct thorough due diligence in acquisitions, partnerships, and joint ventures.
  8. Take risks with care and calculation.
  9. Show restraint and compassion when others face difficulty.
  10. Remember that opportunities remain open at every stage of life.
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