THE Commonwealth Utilities Corporation board of directors will hire a new chief financial officer from a group of four candidates.
As part of the federal stipulated orders, CUC must fill key management positions, including CFO, or face penalties.
Acting CUC Executive Director Betty Terlaje said “there were four candidates, then the board’s hiring committee narrowed it down to the top two, and then…one of the two rescinded their application on the day the committee was deliberating.”
She added, “If [the top] candidate does not pan out, we still have two candidates to select from. But we want to focus on one candidate for the position one at a time.”
According to Terlaje, CUC Board Chairwoman Janice Tenorio was authorized to offer the candidate a salary “within the range.”
Once the candidate accepts the offer, the board will disclose the name and salary range, Terlaje said.
The previous CUC CFO was Greg Cruz, who was hired in April 2019 and whose contract expired on May 21, 2023. CUC wanted to renew his contract, but Cruz declined for family reasons. He is a former CFO of the Guam Waterworks Authority.
Antonio Castro served as CUC’s CFO prior to Cruz. When Castro left, Corina L. Magofna, now a senator, served as acting CFO.
In late 2023, Rodolfo Urbano, a U.S. certified public accountant, was hired as acting CUC CFO. Urbano has been with CUC for more than six years now. His contract as acting CFO is up for renewal in June 2024.
During the regular board meeting on April 25, CUC’s legal counsel, Hunter Hunt, announced that the hiring of a chief engineer was also ongoing.
