Garcia is on the way out. This news from ABS-CBN:
MANILA, Philippines - President Benigno Aquino III said Government Service Insurance System (GSIS) President and General Manager Winston Garcia will soon be replaced.
"It's just a matter of talking to his replacement," Aquino said in a Malacanang briefing on Wednesday.
Previously, Aquino said the person being eyed to replace Garcia, a banker, is in the process of working out the details of his exit from the private sector.
Garcia, who was appointed by former President Gloria Arroyo, has been involved in several controversies. He was acquitted last year by the Court of Appeals of graft in connection with the purchase of paintings by two Filipino national artists worth more than $1 million in 2002.
The GSIS chief has also drawn flak from several sectors, especially GSIS members, for his alleged mismanagement of the state-pension fund agency.