Roxas Holdings, Inc. (RHI), a First Pacific-controlled firm that owns renewable energy company San Carlos Bioenergy, Inc. (SCBI), has named Celso Dimarucut as its new President and CEO.
In a disclosure to the Philippine Stock Exchange, RHI said that Dimarucut’s appointment took effect on December 16.
Prior to becoming the holding firm’s chief, Dimarucut served as officer-in-charge from October 29 to December 15, 2020 and was EVP and CFO from December 1, 2015 to December 15, 2020.
A Certified Public Accountant by profession, Dimarucut graduated Cum Laude from the Polytechnic University of the Philippines with a Bachelor of Science degree in Commerce, Major in Accounting.
Dimarucut oversaw the recent sale of RHI’s sugar mill and ethanol plant in La Carlota City, Negros Occidental to Universal Robina Corporation. The transaction is expected to strengthen the operations of SCBI, the Philippines’ and Southeast Asia’s first fuel bioethanol and co-generation facility.
Hong Kong-based First Pacific, where business tycoon Manny V. Pangilinan sits as Managing Director and CEO, took over RHI in 2015. Pangilinan concurrently serves as RHI’s Vice Chairman.
First Pacific also has interests in the Manila Electric Company (MERALCO) and Global Business Power through Metro Pacific Investments Corporation. Pangilinan is also involved in oil and gas exploration via PXP Energy Corporation.
Photo from Roxas Holdings website.