Guerrero resigns as CUC chief

Anthony C. Guerrero has resigned as executive director of the financially troubled Commonwealth Utilities Corp.

Guerrero submitted his resignation letter to Gov. Benigno R. Fitial on Friday, just hours after the governor delivered his State of the Commonwealth Address.

In the past couple of weeks, there were speculations at CUC that Fitial will terminate Guerrero as executive director.

According to the Public Information and Protocol Office, Fitial accepted Guerrero’s resignation and appointed Antonio Muna, the former special assistant for the Office of Management and Budget, as new CUC executive director effective tomorrow, Monday.

Press secretary Charles Reyes Jr. quoted Guerrero in a statement as thanking the governor for the opportunity to serve the administration and the CNMI people.

“Your steadfastness to do what is right for the people and the CNMI’s future is very admirable. I wish you and your administration continued success during these difficult and challenging times,” the outgoing executive director told Fitial in his letter.

The administration tapped Guerrero in January 2006 to serve as acting executive director. Eight months later, the governor made him permanent executive director.

Guerrero joined the utility agency on Dec. 15, 2003, as a contract officer.

Reyes, in the statement issued Friday, said that Muna would assume the CUC post effective Monday in order to stabilize the troubled public utility and restore it back to sound financial health.

Fitial told Muna in a letter that he has high confidence in his ability to successfully resolve the many pressing challenges besetting the troubled public utilities agency.

“I look forward to working closely with you to address the needs of the utility and restore its solvent financial status,” said the governor.

In a memo to government agencies and department heads, the chief executive urged all agencies to support Muna’s efforts to resolve CUC’s pressing challenges and extend their full cooperation as Muna “takes on this important responsibility for the Commonwealth.”

Fitial said he admires Muna for his strict financial discipline.

He cited Muna’s successful rehabilitation of the Bank of Saipan as evidence of his ability to reverse a bad situation and restore a troubled organization back to sound financial health.

Muna previously served as a receiver for the rehabilitated bank.

Muna said he hopes that Guerrero will serve in some transitional capacity over the next 30 days to allow for continuity and a smooth transfer of duties and responsibilities.

“I thank Anthony Guerrero for his faithful service and contributions,” said Muna in the press statement.

Muna had resigned as budget official for the Fitial administration in December 2007, but stayed on as a financial adviser to the governor.

He then told the media that he will return to private practice. He said he will, however, serve as the governor’s financial consultant on a contractual basis.

Muna had reportedly taken a lot of heat over drastic cost-cutting measures implemented by the Fitial administration. Such measures included mass layoffs, austerity Fridays, and the suspension of retirement contributions.