Entire board of CIIF OMG resigns amid appointment of Rehan Lao
The entire board of directors of Coconut Industry Investment Fund Oil Mills Group (CIIF OMG) resigned following the appointment of its new president, Rehan Lao, who has been allegedly charged with criminal and administrative cases.
Established in the 1970s, CIIF OMG is a conglomerate of strategically located oil mills and refineries in the Philippines.
According to CIIF OMG officials, Lao is currently facing charges on his failure to present his statement of assets, liabilities and net worth (SALN) as well as for misrepresentation of his real position at the CIIF OMG.
In his social media accounts, Lao has been claiming since then that he is the president of the organization.
Lao was appointed by Executive Secretary Salvador Medialdea.