Alsons Consolidated Resources, Inc. has announced Tomas I. Alcantara's decision to retire as the company's Chairman and President, for health reasons, effective 1 March 2021. He will remain a director of the company. Nicasio I. Alcantara will assume the position of ACR Chairman and President upon the former's retirement. Nicasio Alcantara previously led ACR as Chairman and President from 1995 to 2001. He was Chairman and Chief Executive Officer of Petron Corporation from 2001 to 2009. He currently holds leadership positions and board directorships in several companies including ACR Mining Corporation where he serves as Chairman and Phoenix Petroleum where he sits as an independent director. ACR's board of directors have likewise confirmed the appointment of Alexander Benhur M. Simon as Vice President and the assumption of Antonio Miguel B. Alcantara to the new position of Chief Investment and Strategy Officer.