GOCC heads, top execs ordered to submit courtesy resignations

President Ferdinand "Bongbong" Marcos Jr.'s order for his alter egos and other secretary-ranked members of his administration to tender courtesy resignations has been extended to those overseeing government-owned and -controlled corporations (GOCCs).

In a notice dated May 26, 2025, the Governance Commission for GOCCs (GCG) directed state-run firms' non ex-officio chairpersons, chief executive officers (CEOs), and all appointive directors/trustees/members of their respective GOCCs' governing boards to immediately submit their courtesy resignations to the President through the Office of the Executive Secretary.

"The affected officers are reminded that until any action is taken by the Office of the President on such courtesy resignation, they shall continue to report for work and perform their usual duties and functions subject to any further directives that the Office of the President may deem proper," the notice read.

There are 157 GOCCs under the jurisdiction of the GCG.

Last week, Marcos directed the courtesy resignations of Cabinet secretaries to "recalibrate" his administration after the 2025 national and local elections.

The President had lamented that results of the May 2025 midterm polls showed that the people are "tired of politics and they are disappointed with the government."

Members of the economic team—Finance Secretary Ralph Recto, Economic Planning and Development Secretary Arsenio Balisacan, Budget Secretary Amenah Pangandaman, Trade Secretary Ma. Cristina Roque, and Special Assistant to the President for Investment and Economic Affairs Frederick Go—were retained in their respective posts in the initial round of Cabinet reshuffle announced by Executive Secretary Lucas Bersamin.

Meanwhile, Bersamin announced that Energy Secretary Raphael Lotilla will be the next chief of the Department of Environment and Natural Resources, replacing Ma. Antonia Yulo Loyzaga; Department of Human Settlements and Urban Development Secretary Jose Acuzar will be the Presidential Adviser for Pasig River Development; and Foreign Affairs Undersecretary Tess Lazaro will replace Foreign Affairs Secretary Enrique Manalo, who will become as Permanent Representative to the United Nations as Antonio Manuel Lagdameo will retire in July.

The Department of Energy, meanwhile, will be temporarily headed by Undersecretary Sharon Garin as officer-in-charge.

In a May 28 addendum to its notice, the GCG issued specific procedures "to facilitate a more efficient process for the submission of courtesy resignations."

The following instructions were issued by the agency:

For non ex-officio chairpersons

• Courtesy resignations shall be addressed to the President and submitted through the Office of the Secretary

For CEOs

• Courtesy resignations shall be addressed to the President and submitted through the Office of the Secretary

For appointive directors, trustees, and members of GOCC Governing Boards

• Courtesy resignations shall be submitted directly to the Governance Commission instead of the Office of the Executive Secretary
• The courtesy resignation letter shall be addressed to the President

GOCCs' remittances to state coffers have reached over P76 billion as of May 15, 2025, according to the Department of Finance (DOF).

Among the top contributor-GOCCs were the following:

• Landbank of the Philippines
• Philippine Amusement and Gaming Corporation
• Philippine Deposit Insurance Corporation
• Philippine Port Authority (PPA)
• Manila International Airport Authority (MIAA)
• Clark Development Corporation (CDC)
• Philippine National Oil Company (PNOC)
• Bases Conversion and Development Authority (BCDA)
• Philippine Charity Sweepstakes Office (PCSO)
• Subic Bay Metropolitan Authority (SBMA)
• Maharlika Investment Corporation (MIC)
• Philippine Economic Zone Authority (PEZA)
• Philippine Guarantee Corporation (PHILGUARANTEE)

The Finance Department had said GOCC dividend remittances are expected to exceed P100 billion by the end of the year.

Under Republic Act 7656 or the Dividend Law, GOCCs are required to remit at least 50% of their net earnings during the preceding year as dividends to the national government.

To maximize non-tax revenue, the DOF has requested state-owned firms to increase this share to 75%. — VDV, GMA Integrated News