The Special Meeting of the Board of Directors of Concepcion Industrial Corporation held on September 21, 2023, the Board approved the appointment of Mr. Isaias Ariel Fermin as Chief Executive Officer of the Company effective January 1, 2024. Mr. Fermin 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.

He obtained his degree in Chemical Engineering from the University of the Philippines in Diliman. The Board's decision to split the roles of CEO and Chairman aligns 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.