Ready to take charge! Lotilla resigns as director of AboitizPower due to his appointment as DOE chief

Lawyer Raphael “Popo” Lotilla gave up his independent director’s post in Aboitiz Power Corp. after the Department of Justice said there was no impediment to his appointment as Energy Secretary.

The DOJ on Thursday said the nomination of Lotilla as the new head of the Department of Energy is valid and lawful despite a law prohibiting an officer of an energy company from being appointed to the post.

In a stock exchange filing, AboitizPower said Lotilla resigned due to his “nomination and appointment to a government position.”

According to the DOJ, an independent director is not an officer based on the nature, duties, functions and responsibilities vis-a-vis the corporation he serves.

“It is clear that an independent director like Lotilla does not fall within the proscription under Section 8 of RA. 9638 against an officer, external auditor, accountant, or legal counsel of any private company or enterprise primarily engaged in the energy industry,” the DOJ said.

Scammers beware! REGASCO, DOE spearhead LPG Law public awareness

Republic Gas Corp. (REGASCO) president and former LPGMA party-list representative Arnel Ty has called on fellow industry players to ensure the safe use of liquefied petroleum gas in the country in line with Republic Act 11592 or the Liquefied Petroleum Gas Industry Regulation Act.

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Usapang Bilyonaryo” is a digital-first, hybrid magazine show hosted and produced by veteran broadcast journalist Ces Oreña-Drilon in cooperation with the Bilyonaryo.com team. The 30-minute TV cut airs on CNN Philippines at 8 PM every Monday, starting January 16. The full version or producer’s cut of each episode, as well as interview splices, will be posted on Bilyonaryo.com’s Youtube and Facebook accounts.

 

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