Ordonez said the restructuring would transform Basic into "combat-ready form to see it through the current rough times.
Under the restructuring, Basic has gone from a single organisation structure to one with three operating divisions, divided according to categories.
The food division is headed by Basic president and chief creative officer Tere Filipina, the general division by vice-chairman Chiqui Lara, and WellCare (healthcare) by executive vice-president Matec Gargantiel.
"Now there are three groups running like mini agencies. I've made each responsible for revenues, Ordonez said. On top of division heads who will be responsible for and profits, the divisions will have separate creative and account management teams. Only the accounting and finance function are controlled directly by the chairman and CEO. "Agencies have to have an entrepreneurial mindset. They have to be efficient. The profile of agencies has been altered by globalisation. Cost efficiency is now the focus of global companies, Ordonez said.
