Section 16Sec./Art. 16

Powers and Duties of President.- The President of the Corporation shall have the following powers and duties:

a. Direct and manage the affairs and business of the Corporation;

b. Implement the budget, policies, programs and projects approved by the governing Board;

c. Enter into and execute, in behalf of the Corporation, all contracts and authorized transactions;

d. Appoint, promote, remove, suspend or otherwise discipline for cause, any subordinate officer or employee of the Corporation pursuant to the Civil Service Law, rules and regulations: Provided, however, That with respect to officers with rank equivalent to or higher than vice-president, such action shall be subject to the approval of the governing Board;

e. Ensure that the officers concerned prepare the annual and financial reports, including the analysis required in Section 14 hereof on or before the time fixed therein;

f. Delegate any of his powers or duties to any officer of the Corporation as may be deemed expedient for its efficient and effective management; and

g. Perform such other powers or duties as may be appropriately and reasonably assigned to him by the governing Board from time to time.