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Chairman, Board members President/CEO of Clark Development Corp. CDC all replaced, finally

Stake-holders, potential investors as well as anyone who has a vested interest in the well being and future of Clark Freeport Zone, Pampanga, Philippines are happy to hear that Philippines President Aquino has finally taken actions to replace the top officers running Clark Development Corporation.

Here is a report published by Manila Bulletin on 16th April, 2011.

Aquino appoints Melo to Clark Devt Corp board

MANILA, Philippines (UPDATED) – MalacaΓ±ang has announced the appointment of Jose Armando R. Melo, former chairman of the Commission on Elections to the board of Clark Development Corporation on Saturday.

Melo, a former associate justice of the Supreme Court, retired from the Comelec last January.

He was in charge of the elections body when the country had its first nationwide automated elections in May 2010.

State-owned Clark Development Corp (CDC) is the administrative and governing body for the Clark Freeport Zone in the former American military base north of Manila.

Melo replaced Maria Theresa Abes-Laus in the board.

The other CDC board members whose appointment was also announced on Saturday are:

Francis Raphael Carpio
Jose Danilo Honrado
Ricardo S. Baron
Manuel M. Feliciano
Rommel Bondoc
Cesar Villanueva
Felipe Antonio Remollo
Villanueva, the dean of the Ateneo Law School in Makati City, was also appointed as the chairman of the board.

Remollo, on the other hand, will be the president and chief executive officer of CDC.

Remollo is a former Dumaguete City mayor and considered a political ally of President Aquino and Former Senator Mar Roxas

for the full stoy published by Manila Bulletin, please log on to:

http://www.abs-cbnnews.com/nation/04/16/11/aquino-appoints-melo-clark-devt-corp-board

Many keen observers of Clark Freeport affairs still remember vividly the expose of extraordinary compensation received by President and CEO Benny Ricafort.

According to reporter Leila B. Salverria of Philippines Daily Inquirer’s expose titled “Subic, Clark execs highest paid gov’t men” (full story on http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20100807-285364/Subic-Clark-execs-highest-paid-govt-men ) CDC President and CEO Ricafort got his millions through “extraordinary and miscellaneous” expenses, including but certainly not limited to these for example: Php 832,400 in per diem for sitting in the Board of Directors of Clark Development corporation and the Clark International Airport Corp CIAC, another p606,056 in Rata and php497,441 in “others” and then nearly p400,000 in bonus and incentives.

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