Delineation of Responsibilities of the Chairman of the Board and of the Chief Executive Officer of GOCCs
Letter of Instructions No. 1200, issued on February 24, 1982, mandates the separation of the roles of Chairman of the Board and Chief Executive Officer (CEO) in all government-owned or controlled corporations in the Philippines. If one individual currently holds both positions, the governing board must take action within three days to separate them and inform the Office of the President for further appointments. Additionally, if a corporation's charter allows for these roles to be held concurrently, recommendations for amending the charter must also be submitted within the same three-day period. This directive aims to clarify responsibilities in corporate governance.
Law Information
- Reference Number
- Letter of Instructions No. 1200
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 24, 1982
LETTER OF INSTRUCTIONS NO. 1200
| TO | : | All Heads of Ministries |
| All Heads of Government-Owned or Controlled Corporations |
In order to clearly define responsibilities in the policy formulation and implementation aspects of corporate management, I hereby direct that steps be taken to separate the positions of Chairman of the Board from that of the Chief Executive Officer of all government-owned or controlled corporations. cd
In the event that the two positions are presently held by one person, steps shall be taken within three days to separate them and the Office of the President will be notified of the resolution of the governing board to this effect in order that the President may order the election or appointment of either the Chief Executive Officer or the Chairman.
If the charter of a corporation provides for a concurrent Chairman of the Board and Chief Executive Officer, appropriate recommendations for the amendment of its charter should likewise be submitted within three days to the President.
Manila, February 24, 1982
Cite This Law
Delineation of Responsibilities of the Chairman of the Board and of the Chief Executive Officer of GOCCs, Letter of Instructions No. 1200, Feb 24, 1982 (Philippines)
Delineation of Responsibilities of the Chairman of the Board and of the Chief Executive Officer of GOCCs, Letter of Instructions No. 1200 (Phil. 1982)
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