Philippine Olympic Committee President Ricky Vargas today tendered his irrevocable resignation as head of the Olympic body yesterday (Tuesday).
Vargas formally tendered his resignation during a session he attended with a majority of the POC Board Members held at the POC offices at the Philsports Complex in Pasig City.
In the letter, he wrote: “After much introspection, I have determined that there would be other sports leaders who would have the time and inclination needed to lead the POC more effectively”.
He explained to the Board Members that corporate responsibilities and family sentiments played a big role in his decision.
He asked for the understanding of all concerned, “most especially the athletes and NSAs who have supported my initiatives in the organization”.
He also pledged to continue to support Philippine sports in his role as an official of the MVP Sports Foundation and President of ABAP.
He instructed Secretary General Patrick Gregorio to assist in the smooth transition of the administration of the POC, but Robert Bachman of the squash association could be tapped as Secretary General.
Former POC first vice president Joey Romasanta will take over Vargas’ position.
The POC board members questioned Vargas’ involvement in various issues, especially in the Philippine Southeast Asian Games Organizing Committee (Phisgoc) Foundation, Inc. and the contract with a company that aims to become the official outfitter of the SEA Games.
Vargas is one of the eight original incorporators of Phisgoc Foundation, together with Gregorio and POC communications director Patrick Gregorio.
POC board members did not recognize the Phisgoc Foundation.
The Phisgoc Foundation is led by Taguig Conressman-elect Alan Peter Cayetano, who is also the Chairman of the original Phisgoc created with the POC and the Philippine Sports Commission.
