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Manila Bulletin devider Business devider The Stock Market devider Gokongwei takes over helm of RLC

Gokongwei takes over helm of RLC

Published Dec 20, 2023 10:26 am

JG Summit Holdings President and CEO Lance Gokongwei is taking over the helm of real estate unit Robinsons Land Corporation (RLC) after Frederick D. Go resigned from the post to join the Marcos administration.

In separate disclosures to the Philippine Stock Exchange (PSE), RLC and RL Commercial REIT Inc. (RCR) said Go’s resignation takes effect on Jan. 8, 2024. Gokongwei is currently chairman of RLC’s Board of Directors and a director of RCR.

RLC said its Board of Directors has duly accepted Go's resignation as a member of the Board of Directors and as President and CEO while RCR’s Board has accepted Go’s resignation as Chairman and member of the Board of Directors.

The RLC and RCR boards have yet to appoint a new director to replace Go in both boards and as chairman of the RCR board.

Go has been appointed by President Ferdinand R. Marcos Jr. as Special Assistant to the President for Investment and Economic Affairs (SAPIEA), a newly-created position with the rank of Secretary under the Office of the President.

Marcos issued Executive Order (EO) No. 49 creating the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) to be headed by Go.

The order said this is because “there is a need to further strengthen the existing mechanisms for formulation, coordination and implementation of the Government’s economic initiatives, plans, policies and programs, as well as to establish a robust monitoring system to ensure a holistic and cohesive approach to addressing the diverse economic challenges currently confronting the nation.”

Among its main functions is to coordinate with the Economic Development Group (EDG) in identifying problems in the implementation of priority economic initiatives of the Marcos administration.

It will also provide relevant and strategic advice on economic concerns to ensure the timely execution of priority economic initiatives of the government as well as the realization of investment pledges.

Related Tags

Lance Gokongwei Robinsons Land Corporation RL Commercial REIT (RCR) Faraday D. Go Frederick D. Go
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