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Manila Bulletin devider Business devider Banking & Finance devider Over 200 executives from 69 GOCCs submit courtesy resignations—GCG report

Over 200 executives from 69 GOCCs submit courtesy resignations—GCG report

Published Jun 4, 2025 04:20 pm

At A Glance

  • More than 200 executives of government-owned and/or controlled corporations (GOCCs) have so far tendered their courtesy resignations, according to the Governance Commission for GOCCs (GCG).
More than 200 executives from 69 government-owned and/or -controlled corporations (GOCCs) have so far tendered their courtesy resignations, according to the Governance Commission for GOCCs (GCG).
As of June 3, the total number of GOCC officials who have submitted courtesy resignations to President Ferdinand Marcos Jr. reached over 220, including 15 chairpersons and chief executive officers (CEOs), and over 200 board members.
Among the GOCC heads who resigned were Philippine Amusement and Gaming Corp. (Pagcor) Chairperson and CEO Alejandro H. Tengco, Bases Conversion and Development Authority (BCDA) Chairperson Hilario C. Paredes, and BCDA President and CEO Joshua M. Bingcang.
Last May 28, these executives received an order from the Palace to file their courtesy resignations, which came after the Cabinet reshuffle.
According to the Palace, this was done to “assess the performance of key government agencies, including GOCCs, and realign government priorities.”
CEOs and non-ex-officio chairpersons were ordered to address their courtesy resignations to the President and submit them through the Office of the Executive Secretary (OES).
Appointive directors, trustees, and members of GOCC governing boards were ordered to submit directly to the GCG, not the OES. The resignation letters must be addressed to the President.
Similar to the Cabinet secretaries, the acceptance, reassignment, or replacement of GOCC heads’ resignations fall under the prerogative of the President. This could mean some agency heads might be retained or removed from their offices.
Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman earlier told Manila Bulletin that she “does not foresee any delays in national programs or transactions involving GOCCs” even with the blanket directive.
Pangandaman is an ex-officio member of the GCG.
In a report published in December last year, the Organization for Economic Cooperation and Development (OECD) grouping of rich nations cited that the number of GOCCs in the Philippines dwindled to 118 in 2024 from 158 in 2011 amid closures of loss-making corporations, mergers, and privatizations, citing GCG data.

Related Tags

Governance Commission for GOCCs (GCG) government-owned and/or -controlled corporations (GOCCs)
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