Statement from Raul Joseph A. Concepcion, 
Chairman of Concepcion Industrial Corporation

September 21, 2023, Thursday

I am pleased to announce a significant development at Concepcion Industrial Corporation (CIC).

After careful consideration and with full confidence, I, Raul Joseph Concepcion, Chairman of CIC, am delighted to inform you of the approval by our Board of Directors of 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. Ariel Fermin is the ideal fit for this role, and we are excited to welcome him to the CIC family.

Ariel Fermin brings a wealth of experience and a distinguished track record of leadership across various industries. Ariel has held senior leadership positions at renowned multinational companies such as Procter & Gamble, Coca-Cola, Unilever, and Nike, as well as local publicly listed companies Max’s Group Inc (MGI), Jollibee Foods and PLDT. His extensive background covers brand management, product development, retail and sales operations, supply chain management, and general management.

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.

Ariel Fermin, our incoming CEO, has expressed his excitement about joining CIC and leading us into this new chapter. His words, “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,” resonate deeply with our vision and values.

I have complete faith in Ariel’s capabilities, and I am confident that his leadership will contribute significantly to CIC’s continued success. Together, we will embark on this journey, uphold our commitment to excellence, and take CIC to even greater heights.