Island Pacific Introduces Its New CFO: Mr. Herman S. Chiu

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Aug 08, 2022, 11:00 ET

CITY OF INDUSTRY, Calif., Aug. 8, 2022 /PRNewswire/ -- Island Pacific is pleased to introduce Mr. Herman Chiu, who will be the newest member of its executive team and will take on the role of Chief Financial Officer (CFO) of the company. Herman brings in more than 30 years of finance executive experience to the organization. After graduating from UCLA in 1989, he started his career by working as Supervising Senior at KPMG, the largest public accounting firm at that time.

Island Pacific is pleased to introduce Mr. Herman Chiu, who will be the newest member of its executive team and will take on the role of Chief Financial Officer (CFO) of the company. Herman brings in more than 30 years of finance executive experience to the Island Pacific organization.

After 4 years at KPMG, Herman took on a dual role of VP of Finance and VP of Technology at Harbor Distributing LLC, which is part of the largest conglomerate of beer distributorship in the United States. While in Harbor Distributing from 1993 to 2001, he streamlined and improved the efficiency of monthly financial reporting and was responsible for the vast network and information reporting systems for all related organizations across the country.

In Year 2002, Herman took the role of CFO at Santa Monica Seafood which is a multi-state manufacturer of seafood products and is a premier seafood distributor in the southwest United States. As CFO, he executed the company's financial strategy which resulted in the company's growth from $35M to $500M in revenue. Herman assembled a top-notch accounting department which resulted in timely preparation of monthly internal financial statement and annual CPA Audited Financial Statement. He transformed the organization into a goal-oriented company by orchestrating detailed budgets and forecasts to improve performance and profitability. Herman also successfully centralized the banking function and leveraged technology to prevent fraud and improve the reconciliation process of Santa Monica Seafood. His accomplishment resulted in him being awarded the 2017 LA Business Journal CFO of the Year for Large Private Company.

After 17 years as CFO at Santa Monica Seafood, Herman joined Tawa Supermarkets which operates the 99 Ranch Supermarket Chain, the largest Asian Supermarket chain in the United States. Herman was brought in to assist the CEO given Tawa's complex organization and business structure with multiple business units having varied operational objectives. Herman was an integral part of the executive team given his vast experience in finance, accounting, taxation, corporate governance, and risk management.

Island Pacific is thrilled to have Herman Chiu support our mission of promoting Filipino Food and Culture to the rest of the world. His more than 3 decades of Executive Leadership experience in various field of finance and accounting is what Island Pacific needs to bring the company to the next level.

[Island Pacific is supermarket chain dedicated to promoting Filipino Food and Culture to the rest of the world. It is headquartered in City of Industry, California and currently has 17 supermarket branches serving communities in California and Las Vegas.]

SOURCE Island Pacific Market