‘Oligarch’ on Rody hit list quits as firm’s boss

‘Oligarch’ on Rody hit list quits as firm’s boss

Businessman Roberto V. Ongpin on Thursday stepped down as chair and director of gaming firm Philweb Corp. following President Duterte’s threat to bring down “oligarchs” while pinpointing him as a prime example. Ongpin quit his posts in Philweb and all subsidiaries effective immediately, based on his brief resignation letter submitted to the Philweb board on Thursday, a copy of which was disclosed to the Philippine Stock Exchange. “I am fighting a monster… Believe me, I will destroy their clutches in our nation,” Mr. Duterte said at an environment summit in Davao City on Thursday, without identifying anyone. On Wednesday night, the President threatened to take on the oligarchs, naming Ongpin as an example. “My plan, my order … is: ‘Destroy the oligarchs [who] are embedded in government now,’” he said in Malacañang.


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