Philippine president orders all executives of government-owned corporations to resign

By Saadet Gokce

ISTANBUL (AA) - Philippine President Ferdinand Marcos Jr. on Wednesday ordered all ranking executives of Government-Owned and Controlled Corporations (GOCCs) to resign, six days after asking his Cabinet secretaries to step down.

All non-ex-officio chairpersons, Chief Executive Officers (CEOs) and all appointed directors, trustees and members of GOCC governing boards were asked to "immediately submit their respective courtesy resignations to the President through the Office of the Executive Secretary," said a notice from the Governance Commission for GOCCs (GCG) dated Monday but made public Wednesday.

The notice said the decision was in line with "the President's announced intention to recalibrate and realign his Administration's policies and priorities with the people's expectations."

The affected officers will continue their work "subject to any further directives that the Office of the President may deem proper" until their resignations are acted upon.

Marcos Jr. had cited the poor performance of government-backed candidates in May 12 midterm elections while asking for his Cabinet secretaries' resignations.

Only six Marcos-backed senatorial candidates were elected to the Senate in the polls, falling short of expectations.