Robert Ongpin has stepped down as chairman and CEO of PhilWeb with immediate effect, with his daughter and vice chairman Anna Bettina Ongpin also quitting the business.
His departure comes after Philippines President Rodrigo Duterte announced a crackdown against so-called “oligarchs embedded in government”.
The President claims that Ongpin only became rich through his close connections with four of the country’s previous presidents, and has called on the legislature to strengthen laws to limit the individual influence of wealthy residents over the government.
Ongpin is [...]
