Poor health forces SEC commissioner to resign

Securities and Exchange Commissioner Blas James Viterbo has resigned from his post, citing health reasons.

SEC spokesperson Armando Pan said Viterbo has cardiac arrhythmia, a condition wherein the heartbeat is irregular.

SEC chairman Teresita Herbosa said Viterbo is prioritizing his health.

Viterbo for his part, insisted that there are no other reasons for his resignation other than health concerns. He is the only one among four SEC commissioners who did not participate in the recent SEC decision that voided Rappler’s certificate of registration.

The SEC, which is led by Herbosa as chairman, has three other SEC commissioners – Antonieta Ibe, Ephyro Amatong and Emilio Aquino. All are appointees of former president Benigno Aquino III except for Aquino, who is the first SEC commissioner appointed by President Duterte.

Viterbo’s resignation comes three years before his term officially ends in 2021.

Pan said Viterbo tendered his resignation to President Duterte through Finance Secretary Carlos Dominguez III on Feb. 1, 2018.

Viterbo is a corporate and tax lawyer. Prior to joining the SEC, Viterbo was director and treasurer of a private corporation with business interests in mass media, power generation, commercial and tourism realty development, among others.

He likewise served as a member of the board of directors of the Development Bank of the Philippines (DBP), where he advocated good governance initiatives.

He sat in DBP’s Trust, Audit, and Human Resource Committees, and represented the bank as a member of the governing board of the Maritime Industry Authority.