Appliance maker Concepcion Industrial Corp. (CIC) and food manufacturer Monde Nissin Corp. on Friday announced new appointments to beef up their operations.
CIC said in a disclosure to the stock exchange it named Isaias Ariel Fermin as new president and chief executive effective Jan.1, 2024.
CIC chairman Raul Joseph Concepcion said the appointment of Fermin is aligned with the company’s commitment to strengthening its corporate governance framework.
“We believe in separating the roles of CEO and chairman to ensure the highest standards of leadership within our organization. Ariel Fermin is deal fit for this role, and we are excited to welcome him to the CIC family,” Concepcion said.
Fermin held senior positions in big multinational companies such as Procter & Gamble, Coca-Cola, Unilever and Nike.
“I am honored to lead CIC and leading us into this new chapter. I look forward to building happy spaces with CIC and leading a significant impact in nurturing the family’s legacy and steering CIC to a very bright future,” Fermin said.
Meanwhile, Monde Nissin said its board elected former PLDT chief finance officer Anabelle Chua as an independent director. Chua will serve the unexpired term of Romeo Bernardo, who resigned upon his appointment to the Monetary Board.
Chua was also appointed as chairperson of the board’s audit committee and as a member of the board’s risk and related-party transaction committee and corporate governance, nominations and remuneration committee.
Chua was one of the executives who filed for early retirement from PLDT in April after the P33 billion budget overrun reported by the telecom company.
