Garofalo, who was 37 years old as of IDC’s latest annual report, had served as chief operating officer and played a key role in executing the company’s multimillion-dollar project portfolio.
“I am honored to take on this responsibility. IDC’s success is built on a unique blend of sustainability, innovation, and teamwork,” said Garofalo, who is Filipino but studied in Italy, earning a civil engineering degree from the University of Calabria and a master’s degree in structural engineering from the Polytechnic of Turin.
Outgoing CEO and co-founder Architect Romolo V. Nati will remain as chairman and chief of design office, focusing on long-term strategy and architectural vision.
“As we enter this new phase where we need execution capability more than ever, I’m proud to pass the operational leadership to Giuseppe,” Nati said.
The transition comes on the back of strong 2024 results, with net income doubling to P335.45 million and revenues climbing to P604.23 million.
“I look forward to leading our talented team as we continue to grow responsibly, create value for our shareholders, for the environment and for the communities and deliver thoughtfully designed certified green developments to our clients,” Garofalo said.
—Edited by Miguel R. Camus
