The National Power Corporation (NAPOCOR) has named Atty. Melchor Ridulme as officer-in-charge (OIC) following the death of its President Pio Benavidez on Tuesday.
Ridulme, who was the government-owned firm’s vice president and legal counsel, will hold the position until Pres. Rodrigo Duterte selects a replacement.
NAPOCOR said that as OIC-President, Ridulme is authorized to act on and approve urgent matters concerning the operations of the firm. He also has the authority to sign contracts related to procurement of goods and services; approve disbursements of the corporation’s legitimate financial transactions; release funds and approve payroll of employees and personnel; issue office orders and memoranda; and sign promotional appointments of employees and others.
Duterte is expected to nominate Benavidez’s replacement and be formally elected by NAPOCOR board, which is chaired by Finance Sec. Carlos Dominguez III.
Ridulme, the company’s youngest Vice President, also chaired the firm’s anti-red tape and investigative committee and was the country coordinator for the heads of ASEAN power utilities and authorities. He graduated with a Bachelor of Laws degree from San Beda University and obtained his Political Science and Economics degrees from the University of the Philippines.