Manila: Maharlika Investment Corp. (MIC) president and chief executive officer (CEO) Rafael Jose Consing Jr. announced that he has submitted his courtesy resignation. This move comes in response to a directive issued by the Governance Commission for GOCCs (GCG) to government-owned and -controlled corporations (GOCCs).

According to Philippines News Agency, Consing conveyed his decision through a Viber message, stating, "I have submitted my unqualified courtesy resignation." Additionally, the entire MIC Board of Directors followed suit, submitting their resignations promptly after receiving the relevant memorandum from the GCG.

The notice, issued on May 26, requested the courtesy resignation of all appointed CEOs and members of governing boards of state-run companies. Rafael Jose Consing Jr., who was appointed by President Ferdinand R. Marcos Jr. as the President and CEO of MIC in November 2023, will be affected by this directive.

The Maharlika Investment Corp. plays a crucial role in managing the Maharlika Investment Fund, focusing on investments and transactions to achieve optimal returns.