RHI President and CEO Valencia Steps Down; Roxas Takes Over

Makati—(PHStocks)—Sugar group Roxas Holdings Inc. (PSE: ROX) has announced that its president and CEO Renato C. Valencia resigned.

In a special meeting, RHI’s Board of Directors thanked Valencia for his contributions to the company. In his place, RHI Chairman Pedro E. Roxas will take over as interim president and CEO.

Valencia served as director of RHI since September 24, 2004. He was elected CEO of the company on October 27, 2011 while serving concurrently as Director. On December 1, 2011, he was appointed group president and CEO.

Under Valencia’s watch, RHI instituted changes across all its plants in support of the group’s vision to become a globally-competitive industry player.

Meanwhile, RHI Chairman, president and CEO Roxas assured that the company would continue to enhance the operations of all its plants in Nasugbu, Batangas; and La Carlota and San Carlos in Negros Occidental.

“RHI is focused on its vision to become a globally-competitive player. We will continue to implement the needed changes to ensure excellence in all aspects of our organization,” Roxas said.