Olongapo SubicBay BatangGapo Newscenter

Friday, June 20, 2008

President Arroyo regrets resignation of Laus from CDC

President Gloria Arroyo expressed regrets over the resignation of Clark Development Corp. (CDC) President and Chief Executive Officer Levy P. Laus from the state-owned firm.

Secretary Cerge Remonde of the Presidential Management Staff said the President was saddened by Laus’ decision that was conveyed in a letter sent to the President last month, which was coursed through him.

“The President recognizes Laus not only as valuable and irreplaceable ally but a close personal friend. She also realizes the challenge of replacing Laus at CDC considering his substantial achievements during his tenure,” Remonde said.

Remonde said the President would still tap Laus’ expertise and influence to serve the people in another capacity.

“We know he can and will continue to help the President in achieving growth and progress for the country, especially in the countryside,” he said.

In his letter to the President, Laus said his reason for leaving CDC is his desire to go back to his business and steer his companies in the direction of the country’s growing economy under the Arroyo Administration.

Laus is set to relinquish his CDC post on July 31 as he stated in his letter to the President.

“My decision to leave CDC is consistent with the timetable and objectives I set for myself when the President gave me the opportunity to serve her government and help contribute to her vision for the development and growth of Clark,” he said.

Under Laus, Clark was converted from a special economic zone to a freeport zone as investments rose to unprecedented level. Last year, Texas Instruments, one of the world’s biggest semiconductor firm, moved to Clark with an investment of $1 billion—one of the biggest single investments by any foreign firm in the country.

The President appointed Laus to the CDC in October 2006. Prior to this, the President also named him as a member of the board of directors of the Bases Conversion Development Authority and concurrently as director of the Fort Bonifacio Development Corp. and the Bataan Technology Park.

In 2005, he was also appointed commissioner to the Consultative Commission for the Revision of the Constitution. The President later conferred him with the Presidential Medal of Honor.

Laus, a leading businessman in Central Luzon, is the founder and chairman of the Laus Group whose core business is automotive dealership spread in a vast network from Metro Manila to Central and North Luzon.

His business organization, the Laus Group of Companies is currently undertaking several expansion projects, among them the opening of two car dealerships, Kia and Hyundai in Baliuag, Bulacan, next month and the inauguration of the Laus Group Holdings Inc. in August.

He is also the chairman of the Pampanga Chamber of Commerce and Industry.
-- Mark Louie P. Roxas - Manila Times

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