BOI head resigns

Board of Investments (BOI) managing head Gregory L. Domingo has resigned his post effective April 15.

In his irrevocable letter to President Arroyo dated March 11, Domingo cited that his "personal and financial circumstances do not allow me to continue working for government for a longer period."

Domingo has been head of the BOI for three years during the term of former Trade and Industry Secretary Manuel A. Roxas II. Roxas had resigned earlier in December 2003 to pursue a seat in the Senate during the May national elections.

Domingo, prior to h is stint as BOI Managing Head, enjoyed a highly paid job in the private sector.

Sources close to Domingo said that he is likely to return to the private sector after observing the one-year restriction period for former government officials after they resign from government.

Domingo is now on personal leave with BOI governor Armin Raquel-Santos temporarily designated by Trade and Industry Secretary Cesar V. Purisima as officer-in-charge of the BOI and the Department of Trade and Industry (DTI) Industry and Investment Group for the following dates, March 26, April 1, 2, 5, 6, 13 and 15.

Thereafter, the BOI Executive Director Elmer C. Hernandez will be designated as OIC of the BOI and DTI Industry and Investment Group effective April 16, 2004.