The Palace confirmed on Monday afternoon that Lucas Bersamin has tendered his resignation out of delicadeza—or propriety and moral responsibility—after his office was tagged in allegations connected to the anomalous flood control projects. Department of Finance (DOF) Secretary Ralph Recto will be taking his place.

“To ensure continuity and enforce the administration’s governance agenda, President Marcos has appointed Department of Finance Secretary Ralph Recto as the new Executive Secretary,” Palace Press Officer Claire Castro said in a press conference.

“Secretary Recto’s long record in economic policy-making, fiscal legislation, and national planning positions him well to oversee the day-to-day operations of government and coordinate the implementation of high-impact programs,” she assured.

Moreover, Special Assistant to the President for Investment and Economic Affairs Frederick Go will be heading the DOF.

“Secretary Go has played a central role in advancing investments, strengthening investor confidence, and aligning economic initiatives across agencies. He will now oversee the country’s fiscal direction and the implementation of the administration’s economic agenda,” Castro told the media.

Meanwhile, the Palace has also announced Department of Budget and Management (DBM) Secretary Amenah Pangandaman’s voluntary resignation. Budget Undersecretary Rolando Toledo will serve as Officer-in-Charge in her stead.

Earlier, Recto denied having been offered the executive secretary seat. He said he has only heard of talks of a cabinet revamp from the media, adding that he has not been part of any meeting pertaining to the matter.