"Success is feeling good about what you do".

Exactly 50 years ago, in 1971, one of Peru's leading figures in the business world graduated from the Economics course at the then new Faculty of Social Sciences at our University. During his years as a student, he developed many facets: he was head of internships, did voluntary work, played sports and alternated his time in the classroom with his internship at the Central Reserve Bank.

Outside of PUCP, Pierce has had an explosive professional career: he has been CEO of Alicorp (with his leadership, it became the largest consumer goods company in Peru and achieved a presence throughout Latin America), Vice Minister of Commerce of the Peruvian Ministry of Economy and Finance, partner and director of Credicorp, and a leader in philanthropic organisations such as Vida Peru, the Food Bank of Peru and Crea+.

In this interview, Pierce, recognised as a distinguished alumnus of the PUCP Alumni and Graduates Association, shares with us some reflections on the current situation, his time at PUCP and other key moments in his professional life.

"At PUCP, I have learned to respect the thoughts of others".

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What did you learn most from your time as an economics student at the PUCP?

Much of my way of being and thinking is built from my experience at the Catholic University, which allowed me to come into contact with diverse realities and social environments. When the University moved to Fundo Pando, the Economics course was integrated into the Faculty of Social Sciences, where there was a lot of student political activity with a strong socialist influence. Although I was not a leftist, my economic training was totally social and I drew a lot from that. At PUCP, I have learned to respect the thinking of others. I have friends who think differently and absolutely the opposite of mine, and I respect them.

At that stage, you volunteered in Huaraz, how did that experience mark you?

In May 1970, there was a big earthquake in Huaraz and for three months I went to work in social work in the disaster area. Being a volunteer marked me much more than any course. The different debates and opinions I encountered at PUCP, as well as the courses and the teachers, were enriching, but going out, travelling and meeting other realities transformed me.

"Social work changes people and allows them to solve problems in a better way, with greater judgement, with sensitivity, always thinking of the country".

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PUCP is oriented towards the formation of professionals committed to the country. PUCP's current (campaign) slogan, "You are great when you do something great for others", reinforces that vision and sentiment. For you, why is it important for professionals to be highly committed to society? What does 'being great' imply?

I have always felt that I should give back to society something of what society has given me. At university I was taught to feel a commitment to society and to the country. As part of organisations such as Crea+ (which promotes professional volunteering) or the Food Bank of Peru, my way of seeing life reflects exactly that. That is why I would much rather work with someone who has volunteered than with someone who has not, even if they come from the best universities. Social work changes people and allows them to solve problems in a better way, with better criteria, with sensitivity, always thinking of the country. Peruvian companies are just beginning to realise that this is important.

He has recently published a book about his experiences during 20 years as general manager of Alicorp. In it, he tells how he worked at a loss for almost a decade...

1991 was a very complicated and different period for Peru, in which companies had to transform themselves to the new conditions of free competition. Many of them disappeared in the attempt. In our case, it was nine years of a process of transformation and search for efficiencies, until the year 2000 we worked at a loss. Since then, we started to grow steadily. Success was the result of a long-term vision and a lot of commitment. Achieving this was very difficult, but at the same time a necessary process. The most important thing was not to stray from the initial vision, which I never stopped believing in. More than a book by Leslie Pierce, it is a book of the great group of people I worked with during that time.

"At university I was taught to feel a commitment to society and to the country".

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In that sense, what has it meant to you to have power?

I understood from a very young age what power is, I learned to live with it, but I never gave it more importance than it deserved. I knew that at some point it would come to an end, I consider that I never let myself be seduced by power. As general manager, I was in charge of thousands of employees, and as deputy minister I had to make important decisions with the conviction that I was not making mistakes and with the responsibility to correct errors as I went along. In these positions, you have no one to consult or share doubts with. In 2011, at the age of 63, I decided to retire from Alicorp to be replaced by younger talent. Good riddance! New people were needed. In retrospect, I never felt attached to power and I think it helps a lot to live better. You have to know that power is ephemeral.

You got married at 22, had your first child at 23 and at 25 took up your first managerial position at Adex. Before the age of 35, you were vice-minister of trade at the MEF. How did you manage to maintain your balance, from your youth, in the midst of so many responsibilities?

I learned to have priorities in life. In my case, there were three: my family, work responsibilities and my other priority was me. That is, I had to be happy with myself. One of the things that always rewarded me was sport. I would start my day at 4:30 a.m., and it gave me time to play squash and run board on weekends. The contact with nature, the sea and the waves helped me to release stress, which has been great because of the responsibilities I took on. Having this balance was also possible thanks to my wife and children.

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Nowadays, there is a lot of pressure to achieve 'success' or 'power', to be recognised or to achieve financially. From your perspective, what does it mean to be successful?

I am now 72 years old, I am going on 50 years of marriage, I have four children and six grandchildren. I have a family stability that makes me proud and makes me feel good. I have also been successful in the world of work. However, success is not linked to having a high position in a big company. Success is feeling good about what you do, and doing this work in the best way, with precision, commitment, honesty and responsibility.

What would be your professional recommendation to PUCP graduates?

We are in difficult times and for a while young people are going to have a difficult labour market, because the economy is going to slow down due to political uncertainty. This will not last forever and it will get better. Today I see a lot of entrepreneurship, many start-ups are emerging. I recommend to graduates not to stop their projects, to keep doing what they believe in. Resilience, that's what life is all about.

"I recommend to the graduates not to stop their projects, to keep doing what they believe in. Resilience, that's what life is all about.