PAMPANGA, Philippines – Clark Development Corporation (CDC) president and chief executive officer Arthur Tugade has reportedly tendered his resignation citing his health and his support for a presidential candidate other than the anointed one of President Benigno Aquino III.
Sources at the CDC said Tugade announced his resignation to officials and employees of the state-owned corporation right after the flag-raising ceremony on April 4.
His resignation is to take effect on April 26, though the CDC board has yet to make an announcement on whether or not it would accept his resignation.
Tugade, appointed by the CDC board as president and CEO in December 2012 upon the recommendation of Aquino, is known here as supportive of the presidential bid of Davao City Mayor Rodrigo Duterte.
Tugade and Duterte were schoolmates at the San Beda College of Law. Tugade graduated cum laude in 1971, while Duterte graduated in 1972.
Some CDC employees present at the April 4 flag ceremony quoted Tugade as saying that he does not want to appear like a two-faced person by staying as an official of the Aquino administration but not supporting its presidential candidate, Manuel “Mar” Roxas II.
“You already know who my candidate is,” Tugade was quoted as saying, referring to Duterte.
Sources said Tugade also mentioned a health problem but did not elaborate.
As CDC chief, Tugade directed officials and employees of the state-owned corporation not to accept cash and gifts from clients and business locators.
The CDC public information office said under Tugade’s leadership, the corporation posted the highest revenue of P1.554 billion, highest net income of P697 million, and highest cash position of P 2.33 billion in 2015.
Tugade is the founder of Perry’s Holding Corporation, the management arm for Perry’s Group of Companies, which include Transglobal Equipment Leasing, Perry’s Technology, ATP Travel, Perryome, Perry’s Farm, Transglobal Trucking and Transglobal Consolidators Incorporated.
In March, Angeles City Mayor Edgardo Pamintuan, also an alumnus of the San Beda College of Law, endorsed Duterte’s candidacy. – Rappler.com
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