BIZ BUZZ: Fermin back in the game
Three months after his surprising departure from restaurant chain operator Max’s Group, Ariel Fermin has found a new home as CEO of the country’s leading consumer appliance and industrial solutions manufacturer, Concepcion Industrial Corp.
This appointment, which will take effect on Jan.1, 2024, comes at a pivotal time as family-led CIC transitions to a leadership structure that splits the roles of CEO and chair and boosts its professional management pool in line with global corporate governance best practices.
The appointment also makes Fermin the first non-family professional to hold the top post at the company that traces its beginnings to Concepcion Industries Inc. founded by Filipino industrialist Jose Concepcion Sr. in 1962.
CIC chair Raul Joseph Concepcion said the decision to appoint Fermin “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,” he said.
The University of the Philippines alumnus is used to taking on top roles, having held senior leadership positions at renowned multinational companies such as Procter & Gamble, Coca-Cola, Unilever and Nike, as well as local publicly listed MGI, Jollibee Foods and PLDT.