8990 Holdings, Inc. Announces Changes in Chief Executive Officer
September 02, 2021 at 09:40 pm EDT
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8990 Holdings, Inc. at the Special Meeting of the Board of Directors held on September 2, 2021, announced the resignation of Mr. Alexander Ace Sotto as director and Acting President and Chief Executive Officer (CEO) of the Company, effective immediately. The Board of Directors accepted his resignation. The Chairman noted that he will stay on and continue to serve as Chief Operating Officer (COO) of the Company. The Chairman then opened the table for nominations for a new director and for a new President and CEO. After further discussion, Atty. Anthony Vincent S. Sotto was nominated for election as director to fill in the vacancy in the Board, and for appointment as President and CEO of the Company, effective immediately.
8990 Holdings, Inc. is a Philippines-based holding company and a mass housing developer. The Company's business segment includes the construction of low-cost mass housing; construction of medium-rise condominium units; construction of high-rise condominium units, and hotel operations. Under the brand name DECA Homes, its residential subdivisions are located in Cebu, Iloilo, Davao, Pampanga and Cavite. It constructs over three types of housing unit, including single-story detached, single-story attached and townhouse. The floor areas range from 35 square meters (sq. m.) to 120 sq. m. Its facilities include concrete roads and an underground drainage system. It also develops low-cost residential complexes of medium-rise buildings (MRBs) under the Urban DECA Homes brand. The floor area for an MRB unit ranges from 25 sq. m. to 36 sq. m. The Company has also ventured into high-rise condominium projects under the brand name, DECA Towers in the urban areas of Metro Manila.
8990 HOLDINGS, INC. 
