Lance Gokongwei takes over at RLC

JG Summit President and Chief Executive Officer (CEO) Lance Gokongwei will be taking over the top positions at unit Robinsons Land Corp. (RLC) following Frederick Go's having been given a Cabinet position.

Go, who was named in January as presidential adviser on investment and economic affairs, saw his appointment upgraded on Wednesday to head of the newly created Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).

In a regulatory filing on Wednesday, RLC said its board approved the appointment of Gokongwei as president and CEO, effective Jan. 8, 2024, in addition to his current role as chairman.

This came after the board accepted the resignation of Go as president and CEO of the real estate developer, effective January 8.

In separate disclosures to the bourse, RL Commercial REIT Inc. and Altus Property Ventures Inc. also confirmed that Go would step down as their chairman, effective Jan. 8, 2024. Replacements were not named.

Go, who is a cousin of Gokongwei, vacated his numerous posts to head off possible conflicts of interest. As a Cabinet official, he will have authority over the National Economic and Development Authority (NEDA) and the Budget, Finance and Trade departments, and their attached agencies.

He will also act as the chairman of the Economic Development Group, formerly chaired by the Finance and NEDA chiefs who will now become vice chairmen.

Go will also become a member of the NEDA Board, which decides what projects to pursue and the interagency Development Budget Coordinating Committee that sets the government's macroeconomic targets.

He will be the executive secretary's permanent representative to the Fiscal Incentives Review Board, Executive Order 49 that created the OSAPIEA states, and «may also be designated by the President to act as a representative of the OP (Office of the President) in other agencies, departments, boards and committees, whose functions are related to investment and economic affairs, subject to existing laws, rules and regulations.»