BREAKING: PSALM CEO placed under 90-day preventive suspension
The chief executive officer (CEO) of state-run Power Sector Assets and Liabilities Management Corp. (PSALM) has been suspended from his post.
“Following the deliberations during the principals board meeting of PSALM held on May 5, 2015, the board resolved to place president and CEO Emmanuel R. Ledesma Jr. under preventive suspension for 90 days, effective immediately after the said board meeting,” the Department of Finance (DOF) said in a statement on Wednesday.
The DOF did not say the reason behind Ledesma’s suspension.
According to the DOF, Lourdes S. Alzona, who is currently PSALM’s vice president for finance, will serve as the officer-in-charge of PSALM’s office of the president.
PSALM is in charge of privatizing state-owned power assets.
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