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Wednesday, October 01, 2008
Napocor turnover ceremony set

NEWLY-installed National Power Corporation (Napocor) president Froilan Tampinco will finally assume his post on Thursday.

Going to Napocor, Tampinco said is just like returning to his old home since he had served the agency for nearly 20 years.

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Tampinco, prior to his appointment as Napocor chief, was the vice president for asset management of the Power Sector Assets and Liabilities Management (Psalm).

President Gloria Macapagal-Arroyo named him as the new Napocor head following the resignation of Cyril del Callar that took effect last Tuesday.

The formal turnover ceremonies between Tampinco and del Callar is set on October 6.

Tampinco graduated with a Bachelor of Science degree in Chemical Engineering from Saint Louis University in Baguio City, Philippines in 1966.

He obtained a post-graduate degree in Chemistry from the Catholic University of Leuven in Belgium in 1975, and Master in Management degree at the Asian Institute of Management in Makati, Philippines in 1990.

Del Callar, on the other hand, is credited for being able to get Napocor back to profitability after posting losses for seven years.

During del Callar's term at Napocor, the state firm registered a net income of P85.99 billion, up from a net loss of P29.9 billion in 2004. In 2006, Napocor sustained its profitability of P90 billion, the highest in 70 years. (MSN/Sunnex)

For more Philippine news, visit Sun.Star Bacolod.

(October 1, 2008 issue)
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