Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Marcos orders GOCC heads to quit

President Ferdinand R. Marcos, Jr. has ordered the heads of state-owned companies to file their courtesy resignations. — PHILIPPINE STAR/KJ ROSALES

PRESIDENT Ferdinand R. Marcos, Jr. has ordered the heads of state-owned companies to quit, a week after a similar order on his Cabinet secretaries that some see as an attempt to salvage whatever political capital he has left during the second half of his single six-year term.

In a May 26 notice posted on its website, the Governance Commission for Government-Owned or -Controlled Corporations (GCG) under the Office of the President said state companies are covered by the Palace order on courtesy resignations dated May 21.

This is in line with “the President’s announced intention to recalibrate and realign his administration’s policies and priorities with the people’s expectations,” GCG Chairman Marius P. Corpus said in the notice.

All non ex-officio chairpersons, chief executive officers (CEO) and appointive directors/trustees/members of GOCC governing boards have been ordered to submit their courtesy resignations.

“This directive is intended to allow the President to assess the performance of key officials in all government agencies, including GOCCs, and realign government priorities in response to evolving expectations of the Filipino people and ensure that the administration remains dynamic, accountable and responsive,” he said.

In an addendum dated May 28, GCG said that CEOs of GOCCs must address their resignations to the President and submitted through the Office of the Executive Secretary.

For appointive directors, trustees, and members of GOCC governing boards, the resignation letter should be sent directly to the GCG, instead of the Office of the Executive Secretary.

However, the GCG said all GOCC heads should still report for work until the President accepts or rejects their resignation.

“The affected officers are reminded that until any action is taken by the Office of the President on such courtesy resignations, they shall continue to report for work and perform their usual duties and functions subject to any further directives that the Office of the President may deem proper,” Mr. Corpus said.

Last week, Mr. Marcos told all Cabinet members to submit their courtesy resignations.

Since then, he has retained members of the economic team — Finance Secretary Ralph G. Recto, Trade Secretary Cristina Aldeguer-Roque, Department of Planning, Economy, and Development Secretary Arsenio M. Balisacan, Budget Secretary Amenah F. Pangandaman and Special Assistant to the President for Investment and Economic Affairs Frederick D. Go. — Norman P. Aquino with inputs from ARAI

    You May Also Like

    Stock Markets

    PHILIPPINE President Ferdinand R. Marcos, Jr. met with Laos Prime Minister Sonexay Siphandone on May 26 as part of the 46th ASEAN Summit and...

    Stock Markets

    ABOITIZECONOMICESTATES.COM By Beatriz Marie D. Cruz, Reporter ABOITIZ INFRACAPITAL, Inc. (AIC), the infrastructure subsidiary of the Aboitiz group, said it expects up to 25...

    Stock Markets

    In the photo from left to right: WeFund Lending Corp. President and CEO Francisco “Coco” Mauricio, Netbank Head of Lender Amiel De Sotto, Netbank...

    Finance

    Small businesses in the North East of England are preparing to showcase their products and services to buyers from across the globe, as the...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.