Dominguez resigns posts in 2 listed firms

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BUSINESSMAN Carlos “Sonny” Dominguez 3rd has resigned his posts in two publicly listed companies after accepting the offer of incoming to head the Department of Finance (DOF) under the Duterte administration.

In separate disclosures to the Philippine Stock Exchange, both Alsons Consolidated Resources Inc. (ACR) of the Alcantara Group and property firm PFTC Redevelopment Corp. said that Dominguez has already resigned from his executive positions in their respective firms.

“We at Alsons have long benefited from Mr. Dominguez’s expertise and vast experience in numerous fields. While his counsel and presence in our board meetings will be sorely missed, we in ACR strongly support his answering the call to serve our country and our people. We wish Mr. Dominguez all the best as he embarks once again on the path to government service,” ACR chairman and president Tomas Alcantara said in a statement.

ACR is primarily engaged in power generation in Mindanao. By 2019, ACR-affiliated power facilities will have around 588 megawatts of generating capacity, approximately 25 percent of Mindanao’s projected peak power demand for that year.


Meanwhile, PFTC Redevelopment Corp., a real estate firm, likewise announced that Dominguez has resigned as president, director, and chairman of the executive committee at PFTC “in anticipation of his appointment as the Finance chief under the incoming administration.”

Leo Dominguez will serve the unexpired term of Dominguez, the company said.

“Of course, I am willing to divest all my business interests and affiliations to effectively assume my post as Finance Secretary,” Dominguez said, who owns several businesses in Davao City including the Marco Polo Hotel.

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