Roxas Holdings prexy resigns

MANILA, Philippines – Sugar group Roxas Holdings, Inc. yesterday announced its president and CEO Renato C. Valencia has 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 would take over as interim CEO until the board appoints a permanent one.

Valencia served as director of RHI since Sept. 24, 2004. He was elected CEO of the company on Oct. 27, 2011 while serving concurrently as director.

On Dec. 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, Roxas assured the public that the company would continue to enhance the operations of all its plants in Nasugbu, Batangas; La Carlota and San Carlos in Negros Occidental.