• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

3

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

3

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
LeadershipHow to Reopen

‘Forget about making money’: Asia’s CEOs share lessons on reopening and the post-pandemic business landscape

By
Maria Aspan
Maria Aspan
Down Arrow Button Icon
By
Maria Aspan
Maria Aspan
Down Arrow Button Icon
June 9, 2020, 2:30 PM ET
Add Fortune on Google for similar content.

Their businesses were among the first to feel the effects of COVID-19. Now the CEOs of some of Asia’s leading companies are providing a road map for what businesses around the world can expect as they reopen.

The top executives of Alibaba Group, Yum China, Grab, and Rakuten met virtually with members of Fortune’s CEO Initiative on Tuesday to discuss how they are slowly transitioning their business operations and their employees out of quarantine. Their advice ranged from practical workplace considerations to thoughts about the lasting shifts in customer behavior and corporate social responsibility that all top executives and leaders should anticipate, as cities and regions slowly reopen around the world.

Below are three top lessons from these CEOs’ efforts to reopen and recover from the global pandemic:

Reopenings will be slow and cautious—for a long time. The CEOs say they are balancing the benefits of reopening with the continued wariness of both customers and employees. Pizza Hut and KFC operator Yum China, for example, is seeing more in-person business at restaurants with wide-open spaces—and less at those in shopping mails, train stations, and airports. Until internal and international travel recovers, “those businesses will continue to struggle a little bit,” says Joey Wat, CEO of Yum China.

For these CEOs’ employees, meanwhile, slow reopenings have pros and cons. “Working from home is very, very efficient” but also makes some employees feel “isolated and lonely,” says Hiroshi Mikitani, founder and CEO of Rakuten. The Japanese e-commerce company hopes to eventually reach a mix of roughly 70% of people working in the office and 30% working from home; but right now, Mikitani says, “we are making a baby step.”

Technology will permanently replace some offline operations, even as the non-virtual world rebounds. The pandemic-caused surge in video meetings, online shopping, and digital payments is here to stay, these CEOs predict. “COVID has accelerated cashless adoption,” says Anthony Tan, CEO and cofounder of Grab. The Singapore-based ride-sharing company, which operates throughout Southeast Asia, has now made all of its ride-sharing payments cashless in the Philippines, even though “cash is still very much king here,” Tan says.  

Meanwhile, Alibaba Group has seen a quarantine-related boost not only in the online shopping that helped the company become an e-commerce giant, but also in internal and external usage of its video and workplace collaboration tools. “We do see a very efficient collaboration online, which I believe will fundamentally change the model of working collaboration in the future,” says Alibaba CEO Daniel Zhang.

“Forget about making money for now this year.” That’s the bottom line from Yum China’s Wat, whose company instituted some expensive new programs for employees and customers during the pandemic. Yum China expanded health insurance coverage to the spouses and parents of its store managers, and served free food to over 1,450 hospitals and community health centers across China. This sense of social responsibility is paramount for all companies, she argues: “This year is to build a brand; it’s not about making money. Hopefully we can build a brand that can help shareholders make money for the next 100 years.”

About the Author
By Maria Aspan
LinkedIn iconTwitter icon

Maria Aspan is a former senior writer at Fortune, where she wrote features primarily focusing on gender, finance, and the intersection of business and government policy.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Leadership

Alphabet’s SpaceX stake fuels a $98 billion gain, beating estimates
Big TechMarkets
Alphabet’s SpaceX stake fuels a $98 billion gain, beating estimates
By Barbara Ortutay and The Associated PressJuly 23, 2026
3 hours ago
Benjamin Franklin's experiment with the kite.
AIScience
The Trump administration is revamping the era of the ‘gentleman scientist.’ It’ll cost $200 billion
By Eva RoytburgJuly 23, 2026
4 hours ago
Amazon founder Jeff Bezos
SuccessBillionaires
Amazon’s Jeff Bezos could be the latest American billionaire to buy into European soccer clubs—he’s eyeing up a stake in Liverpool FC
By Emma BurleighJuly 23, 2026
4 hours ago
Sanae Takaichi
Successwork-life balance
Japan’s prime minister sleeps just ‘zero to three’ hours a night—even as Tokyo pushes a 4-day workweek to fight ‘death by overwork’
By Preston ForeJuly 23, 2026
5 hours ago
All hail London—whatever the U.K.’s new Prime Minister says 
EuropeLetter from London
All hail London—whatever the U.K.’s new Prime Minister says 
By Kamal AhmedJuly 23, 2026
7 hours ago
AI coding company Cursor, soon to be acquired by SpaceX, expands its CFO council
NewslettersCFO Daily
AI coding company Cursor, soon to be acquired by SpaceX, expands its CFO council
By Sheryl EstradaJuly 23, 2026
8 hours ago

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
1 day ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
1 day ago
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
3 days ago
'The man who dies rich dies disgraced': The last time America had such wealth inequality, Andrew Carnegie knew he had to give it all away
Success
'The man who dies rich dies disgraced': The last time America had such wealth inequality, Andrew Carnegie knew he had to give it all away
By Nick LichtenbergJuly 22, 2026
1 day ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
2 days ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.