The Market Monitor Minding the Nation's Business
Philippine Amusement and Gaming Corporation (PAGCOR) Chairperson and CEO Alejandro Tengco confirmed on Thursday that he and the entire PAGCOR Board of Directors have tendered their courtesy resignations.
Tengco said the move, made during the previous week, was in deference to President Ferdinand R. Marcos Jr.’s authority to reorganize the bureaucracy as he sees fit.
“We serve at the pleasure of the President,” Tengco said in a statement. “And we will accept whatever the Chief Executive’s decision will be.”
Joining Tengco in stepping down were PAGCOR President and COO Wilma Eisma and Board Directors Jose Maria Ortega, Francis Democrito Concordia, and Gilbert Cesar Remulla.
Their collective resignation allows the President a free hand in evaluating leadership posts within government-owned and controlled corporations, including PAGCOR, in line with ongoing efforts to streamline governance and align key agencies with national priorities.