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Lotilla resigns as Aboitiz Power independent director following DOE nomination

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<p>MANILA - Raphael Perpetuo Lotilla, President Ferdinand &#x27;Bongbong&#x27; Marcos Jr&#x27;s nominee as Energy Secretary, has resigned from his post as independent director of Aboitiz Power Corp, the company said.</p><p>Lotilla&#x27;s &quot;nomination and appointment to government position&quot; as the next Department of Energy Secretary was the reason behind the resignation, Aboitiz Power told the stock exchange in a disclosure on Thursday.</p><p>Aboitiz Power said the resignation took effect on July 11.</p><p>Press Secretary Trixie Cruz-Angeles earlier clarified that Lotilla was nominated as DOE chief pending the clarification of his employment status.</p><p>The Department of Justice on Thursday said Lotilla&#x27;s nomination was &quot;valid and lawful.&quot;</p><p>An independent director position &quot;is not an officer&quot; based on the nature, duties, functions and responsibilities vis-a-vis the corporation he serves, the DOJ said, citing the Revised Corporation Cord, Securities Regulations Code and the Code of Corporate Governance. </p><p>“The position of the department is that the appointment should be valid given that an independent director does NOT fall within those prohibited by the Department of Energy Act of 1992,” the DOJ said. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/07/14/22/doj-oks-lotilla-appointment-as-doe-secretary">DOJ OKs Lotilla appointment as DOE secretary</a></li></ul><p>Lotilla formerly served as Energy Secretary from 2005 to 2007 under the administration of former President Gloria Macapagal Arroyo, Malacanang said. </p><p>He was also a deputy director general of the National Economic and Develop Authority (NEDA) from 1996 to 2004. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/11/22/lotilla-nominated-as-energy-secretary-angeles-clarifies">Lotilla nominated as Energy secretary, Angeles clarifies</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2123318" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

President Ferdinand Bongbong Marcos Jr's nominee as Energy Secretary Atty. Raphael Perpetuo Lotilla has resigned from his post as independent director of Aboitiz Power Corp, the company said.