Oban takes over as CDC head

CLARK FREEPORT, Pampanga ,Philippines  – Former Armed Forces of the Philippines (AFP) chief of staff Eduardo Oban Jr. assumed the chairmanship of the state-owned Clark Development Corp. (CDC) yesterday.

Executive Secretary Paquito Ochoa informed the members of the CDC board about Oban’s appointment last Friday.

Oban replaced Arnel Casanova, who had held the CDC chair in an acting capacity.

Oban, who was named AFP chief at the height of allegations that top military officials received cash gifts prior to their retirement, retired last December.

Oban’s appointment came as a number of investors appealed to President Aquino not to accept the resignation of CDC president and chief executive officer Felipe Romollo. Aquino has yet to act on Remollo’s resignation.

Frank Sauceda, president of L&T International Group Philippines Inc., expressed disappointment over Remollo’s resignation, saying CDC investors “don’t like really that much change.”    

Jeanie del Rosario, president of the Clark Locators and Investors Association, cited Remollo’s “incorruptibility and efficiency.”

She described Remollo as “one of the best, if not the best president the CDC ever had.”