Government nominees elected to POTC board

The board of directors of the Philippine Overseas Telecommunications Corp. announced yesterday its acceptance to its board the two nominees of President Arroyo as it expressed optimism in putting an end to the long-standing corporate squabbles within the company and its subsidiaries.

The election of Manuel Andal and Enrique L. Locsin to the POTC board came two months after they were nominated and elected to the board of the Philippine Communications Satellite (Philcomsat), the operating arm and a major subsidiary of POTC.

Following their election in the newly reconstituted board, Andal and Locsin will represent the 35-percent government stake in Philcomsat.

The two will join the other POTC directors, namely, Victor Africa, Erlinda Ilusorio-Bildner; Manuel H. Nieto Jr., Honorio Poblador III and Katrina Ponce-Enrile.

President Arroyo and the Presidential Commission on Good Government (PCGG) have been informed of the election of the two government nominees according to protocol.

"Our board of directors is now complete," said Africa, officer in charge of Philcomsat, of the election of the two government nominees. Africa is also the president of POTC.

The entry of government nominees is expected to settle the leadership dispute in Philcomsat.

"All the communities that our corporation services – the stockholders, the employees, the clients and the public in general – look forward to working directors who will soon settle into their mandated task of policy formulation. . . unhampered and undisturbed by any and all political and ownership issues," Africa said.

"We have no reason to think that our board of directors – now with the two new nominees of President Arroyo – will not be able to fulfill its commitment," he said.

"We hope that their (Andal and Locsin) attention will be united and focused on our corporation’s survival. . . especially in these trying times," he added.

"Truly, now and perhaps more than ever, there is the need for our corporation to have oneness in purpose. The officers and staff of POTC and Philcomsat are all looking forward to the stabilization of the two companies, which is now anchored on the guidance and professional steering whose responsibilities lie in the hands of the directors or the policy making body of the two respective companies," Africa stressed.