AIR-CONDITIONING and refrigeration solutions provider Concepcion Industrial Corp. (CIC) said on Friday that its board of directors had approved the appointment of Isaias Ariel Fermin as the company's new chief executive officer (CEO) effective Jan. 1, 2024.
"The board's decision to split the roles of CEO and chairman aligns with its thrust to follow best governance practices, which will contribute to unbiased strategic decisions and improve board independence," CIC said in a filing with the stock exchange.
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