Powers of the President of TRANSCO.
Section 16
SEC. 16. Powers of the President of TRANSCO. — The President of TRANSCO shall be appointed by the President of the Philippines. In the absence of the Chairman, the President shall preside over Board meetings. The President of TRANSCO shall be the Chief Executive Officer of TRANSCO and shall have the following powers and duties: To execute and administer the policies and measures approved by the Board, and take responsibility for the efficient discharge of management functions; To oversee the preparation of the budget of TRANSCO; To direct and supervise the operation and internal administration of TRANSCO and, for this purpose, may delegate some or any of his administrative responsibilities and duties to other officers of TRANSCO; Subject to the guidelines and policies set up by the Board, to appoint and fix the number and compensation of subordinate officials and employees of TRANSCO; and for cause, to remove, suspend, or otherwise discipline any subordinate employee of TRANSCO; To submit an annual report to the Board on the activities and achievements of TRANSCO at the close of each fiscal year and upon approval thereof, submit a copy to the President of the Philippines and to such other agencies as may be required by law; To represent TRANSCO in all dealings and transactions with other offices, agencies, and instrumentalities of the Government and with all persons and other entities, private or public, domestic or foreign; and To exercise such other powers and duties as may be vested in him by the Board from time to time.