Vivant’s Ramontito Garcia hands over reins to the next generation, Arlo Sarmiento to take over as CEO starting Feb.7
Business

Vivant’s Ramontito Garcia hands over reins to the next generation, Arlo Sarmiento to take over as CEO starting Feb.7

Cebu-based Vivant Corp. announced that its CEO Ramontito E. Garcia, was stepping down effective February 7.

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Garcia, who turns 65 next month, said he was ready to step aside and make room for a new generation of leaders.

Vivant president Arlo G. Sarmiento will assume the role of CEO while SVP for Power Emil M. Garcia will take over as president.

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“My retirement offers the next generation the opportunity to take the helm, to bring new ideas and to implement new styles of leadership while maintaining the same core values that have brought Vivant to where it is now,” said Ramontito, who will continue to sit on the board as chairman.

Vivant, a holding company with investments in energy and infrastructure, landed on Forbes Asia’s 200 Best Under A Billion list in 2020.

“I’m proud of being part of the team that made this small holding company of five employees to a conglomerate of several companies with interests in different industries,” said Ramontito.

Sarmiento said that taking over the position of CEO is a challenging one in a business environment that is still reeling from the impact of the Covid-19 pandemic and super typhoon Odette.

However, he is confident that he will be able to steer Vivant to greater heights.

“I am certain we’ll be able to get back on our feet and gain new ground with the same can-do spirit, guided by the same core values that have been instrumental in Vivant’s growth through the years,” Sarmiento said.

Based on data from the Philippine Stock Exchange, the Garcia-Escaño family of Cebu owned around 76 percent of the outstanding capital stock of Vivant as of Dec. 31, 2020.

 

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