THE head of the transition subcommittee that reviewed the Commonwealth Ports Authority is the Commonwealth Utilities Corp.’s new board chairman.
A civil engineer, Francisco Q. Guerrero used to be president of SSFM International, an engineering and planning firm, before he was appointed as CUC board member. He is also a former CPA board member.
Board member Laura Manglona was elected vice chairwoman while Frank Camacho was named board secretary.
Guerrero appointed Manglona as chairman of the committee on finance and budget.
Businessman Herman P. Sablan, the newest appointed board member, will chair the operations committee.
In an interview, Guerrero said the new board will take the direction recommended by the administration.
“We have the administration’s blessing to strictly follow the findings of the transition committee that reviewed CUC,” Guerrero told Variety.
Of crucial interest to the new board is CUC’s debt to the Commonwealth Development Authority.
The new chairman said he would thoroughly discuss the issue with CUC’s legal counsel.
The government is working on a loan restructuring deal between CDA and CUC to settle the corporation’s over $100 million debt.
