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CDA’s Camacho assumes acting executive post
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Posted on Dec 06 2005
Commonwealth Development Authority loan manager Oscar C. Camacho assumed an additional responsibility as “acting executive officer” effective this week.
He temporarily replaced former CDA executive director Maria Lourdes S. Ada, who left the agency effective Nov. 30.
Ada, who was promoted to the top executive post in 1999, has decided not to renew her contract this year.
In an earlier interview, Ada, who holds a law degree, said that she plans to pursue a career in the legal profession.
The CDA board had tried to keep her in her CDA post, but she was reportedly “unstoppable.”
Board chairman Tom Glenn A. Quitugua said the board unanimously voted last Friday to keep Ada.
“But she’s made up her mind. We can’t stop her anymore,” Quitugua said.
Meantime, Camacho said that the added responsibility is immediately noticeable in terms of workload but that “it’s manageable.”
“So far so good,” the acting executive officer said.
Camacho joined the CDA in 2004 as loan manager.
Before this, he was in private insurance and bonding business.
Camacho also serves as trustee of the NMI Retirement Fund board, representing Saipan.
Camacho’s four-year term as board member expires in 2008.
Quitugua earlier said that the board would “restructure” the executive director position and later open it to potential applicants.
The executive director was reportedly paid $84,000 a year.
