Concepcion Industrial Corporation (CIC), a leading provider of consumer lifestyle and building and industrial solutions in the Philippines, has named Isaias Ariel Fermin as Chief Executive Officer after his resignation as President of Max’s Group Inc. took effect at the end of last month.
In a disclosure to the Philippine Stock Exchange (PSE), CIC said Fermin brings a wealth of experience and a distinguished track record of leadership across various industries.
Prior to this announcement, Fermin steered the Max’s Group through the tumultuous pandemic period which saw restaurants sales dropping due to the lockdowns. He eventually nursed it back to profitability following the easing of quarantine measures.
Fermin has also held senior leadership positions at renowned multinational companies such as Procter & Gamble, Coca-Cola, Unilever, and Nike, as well as local publicly-listed companies Jollibee Foods and PLDT aside from the Max’s Group.
His extensive background covers brand management, product development, retail and sales operations, supply chain management, and general management. He obtained his degree in Chemical Engineering from the University of the Philippines in Diliman.
Fermin takes the role of CEO from CIC Chairman Raul Joseph A. Concepcion after the firm’s Board of Directors decided to split the roles of CEO and Chairman to align with its thrust to follow best governance practice which will contribute to unbiased strategic decisions and improve Board independence.
“It demonstrates the Board’s unwavering commitment to strengthen the Company’s corporate governance framework and ensure the highest standards of leadership within the organization,” CIC said.
Concecion said that, “after careful consideration and with full confidence, I am delighted to inform you of the approval by our Board of Directors for the appointment of Isaias Ariel Fermin, known to many as Ariel, as our new Chief Executive Officer (CEO), effective from January 1, 2024.”
“This decision marks a pivotal moment for CIC, as it demonstrates our unwavering commitment to strengthening our corporate governance framework. We believe in separating the roles of CEO and Chairman to ensure the highest standards of leadership within our organization,” he added.
Concepcion noted that, “Ariel Fermin is the ideal fit for this role, and we are excited to welcome him to the CIC family.”
“As Chairman, I am thrilled to champion broader industry trends and opportunities for CIC, ensuring that we remain at the forefront of our domain. I firmly believe that embracing change is vital for progress, and this strategic move will not only position us to adapt to the evolving world but also set the stage for the next generation of leaders to thrive, innovate, and carry forward the legacy of CIC,” he said.
He pointed out that, “Ariel Fermin, our incoming CEO, has expressed his excitement about joining CIC and leading us into this new chapter.”
“I am honored to lead CIC during this exciting chapter. I look forward to building ‘happy spaces’ with CIC and creating a significant impact in nurturing the family’s legacy and steering CIC to a very bright future,” said Fermin.
For his part, Concepcion said that, “after careful consideration and with full confidence, I am delighted to inform you of the approval by our Board of Directors for the appointment of Isaias Ariel Fermin, known to many as Ariel, as our new Chief Executive Officer, effective from January 1, 2024.”
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The article was originally published in Manila Bulletin and written by James A. Loyola.
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