MANILA, Philippines - Former agriculture secretary Carlos Dominguez has resigned from his post as director of Alsons Consolidated Resources Inc. (ACR) of the Alcantara Group to serve as the finance secretary in the incoming administration.
In a disclosure to the Philippine Stock Exchange (PSE), the company said Dominguez has tendered his irrevocable resignation as member of the board of directors effective June 17.
“Mr. Dominguez has left the ACR board in order to serve as secretary of finance under the incoming administration of President-elect Rodrigo Duterte,” the firm said.
ACR said it will advise regulators, namely the PSE and the Securities and Exchange Commission, on the replacement director as soon as the board elects one.
“We at Alsons Consolidated Resources have long benefited from Mr. Dominguez’s expertise and vast experience in numerous fields,” ACR chairman and president Tomas Alcantara said in a statement.
ACR is primarily engaged in power generation in Mindanao, currently operating four power plants that have all contributed significantly to helping end the power shortage in Mindanao.