Ex-investment banker named new FDC chief

GOTIANUN -l E D F ilinvest Development Corp. (FDC) has appointed Rhoda A. Huang as its new president and CEO and Brian T. lim as chief finance officer (CFO).

Huang will replace Josephine Gotianun-Yap, who spearheaded significant milestones for the Gotianun family business since taking over following the Asian financial crisis. Yap will become vice chairman of the company.

pointment, Huang was President of BPI Capital Corp. and branch head of investment banking for Credit Suisse Philippines.

She worked for 19 years at JPMorgan Chase and its predecessor institutions and was responsible for expanding the bank’s major corporate relationships. Huang completed her bachelor’s degree in business administration and accountancy at the University of the Philippines and is a certified public accountant (CPA).

REC k I TT Benckiser Group Plc shares fell after the maker of Strepsils lozenges and Durex condoms reported a larger-than-expected decline in sales volumes as shoppers balked at higher prices.

Volumes fell 4.3 percent in the second quarter, Reckitt said Wednesday, more than the 3.7-percent slump estimated by analysts. Sales climbed 4.1 percent on a like-for-like basis as the company passed along higher costs to consumers.

The stock fell as much as 2.8 percent in l ondon, the biggest intraday decline in almost three months.

The slump in volumes suggests inflation-weary consumers may be turning toward lower-cost store brands in the face of price increases. Consumer-goods giant Unilever Plc said Tuesday that it’s becoming more selective in raising prices as raw material inflation eases, which resulted in a rebound in the volume of beauty and personal care products sold.

Volumes at Reckitt’s hygiene unit, which includes Air Wick deodorizer and Finish dishwasher detergent, tumbled by 7.3 percent in the quarter. Citigroup analysts said the decline may require a strategic update from kris licht, who will succeed interim boss Nicandro Durante as the group’s chief executive officer by the end of the year. The CEO-designate has been leading the health unit. Bloomberg News

By VG Cabuag @villygc

MA x S Group Inc. (MGI), the casual dining operator, has added electric bicycles to its fleet to deliver orders in densely populated areas in Metro Manila.

The initiative is the group’s response to the increasing demand for delivery services, alongside the global pursuit for more sustainable transport alternatives, the company said.

Currently, Max’s has deployed its fleet of 30 pedal assist e-bike to service more customers in highdensity areas such as Ortigas, San Juan, EDSA, Makati, Taguig and Alabang.

“Along with helping the environment, we are motivated by the positive impact that our fleet of pedal assist e-bicycles have had on both our customers and employees as we continuously work together to help reduce our carbon footprint,” Robert F. Trota, the company’s president and CEO, said.

“As the leading casual dining operator in the Philippines, we are committed to using our reach and influence to push forward our collective sustainability efforts.”

As more and more consumers demand brands to elevate corporate responsibility, initiatives that help reduce carbon footprint and drive sustainable efficiencies are “a sure win.” These e-bikes are designed to emit less carbon emissions and have already helped the group rely less on fuel, the company said.

Since launching in key cities around Metro Manila, Max’s has continued to offer “environmentally-conscious” delivery services to its customers, while also encouraging a healthier option for its riders.

Citing a report, MGI noted that a pedal-assist e-bike is a great option for someone looking for a boost in biking, but would still like the benefits of a normal bike.

It gives the biker an option to control the level of boost or the level of effort that one will put in making it beneficial to the health of those driving them.

Huang, a former investment banker, brings with her expertise to the company’s executive team, with track record of successful mergers and acquisitions.

“We are pleased to have Chiqui Huang lead the next phase of the Filinvest group and believe in her ability to guide organizations towards achieving their vision. Her leadership will be instrumental in our pursuit of strategic objectives and advancing our position in the market,” said FDC Chairman Jonathan T. Gotianun said.

The announcement follows a roster of high-level leadership changes within the Filinvest Group.

“Succession planning has been identified as a primary strategy to ensure business continuity and the orderly future-proofing of the organization,” Yap said.

“As we thrive in this post-pandemic revitalization phase, we look forward to Chiqui harnessing the depth of her investment banking experience which has exposed her to industries where the Filinvest group also operates.”

Huang brings to FDC more than 30 years of experience in Philippine corporations, financial and government institutions. Prior to her ap- lim has over 14 years of experience in the financial field and was CFO at one of the largest construction companies in the Philippines. He graduated summa cum laude and class valedictorian from the University of St. l a Salle in Bacolod City in 2006 and is a CPA board exam topnotcher. lim has also completed executive management programs at the University of Asia and the Pacific and Massachusetts Institute of Technology Sloan.

“I am honored to be a part of this esteemed organization and look forward to leveraging my experience to create value for our stakeholders,” Huang said.

Meanwhile, lim will replace Elsie D. Paras, who resigned early this month.

“FDC has established a solid foundation for growth, supported by an extensive asset base, an expansive network, and brand portfolio which is poised to reach its full potential. We believe that with new leaders who embrace our core values, bring fresh perspectives, and build on our established businesses, we can foster a high-energy, growth-oriented company,” Yap said. VG Cabuag