Airconditioning and Refrigeration Company Names Ariel Fermin as its New CEO
Following his resignation from Max’s Group Inc. last month, Ariel Fermin is named the new CEO of Concepcion Industrial Corporation.
Electronic appliances are house essentials in the Philippines, and given the demand it brings, it is foreseen that the market for electronic appliances is expected to grow annually by 3.91%. This includes appliances that Filipinos usually go for, such as refrigerators and air conditioners.
Many companies in the country specialize in manufacturing and distributing refrigerators and air conditioners, including Conception Industrial Corporation (CIC), which works with some of the country’s biggest brands in the refrigeration and air conditioning industry.
Just recently, CIC named Ariel Fermin—the previous head of Max’s Group—as its new CEO.
A Change in Leadership
Ariel Fermin was named as the company’s new CEO after he stepped down from his position at Max’s Group by the end of last month. He succeeds CIC Chairman Raul Josep A. Concepcion after the board decided to split the roles of CEO and Chairman.
Their reason for this? To align the company’s thrust to follow best governance practices, have 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,” the CIC said in a statement.
Who is Ariel Fermin?
Fermin brings years of experience and a strong leadership track record across various industries. This is evident by how he led Max’s Group to profitability during the pandemic—despite the closure and decrease in sales of other restaurants.
Aside from Max’s Group he has held senior leadership positions at companies like Procter & Gamble, Coca-Cola, Unilever, and Nike in the past, as well as local publicly-listed companies Jollibee Foods and PLDT. Moreover, his business background encompasses brand management, product development, retail and sales operations, supply chain management, and general management.
By taking his new position, Fermin will again prove his leadership prowess—this time in a different industry. By doing so, he can contribute what he has learned from his past work and incorporate it into propelling CIC to newer heights.