Senator Mark Villar has been elected as the new chairman of the Senate committee on finance, replacing Senator Sherwin Gatchalian in a leadership reorganization approved during Tuesday’s plenary session.

The change was formalized through a motion by Acting Majority Leader Senator Joel Villanueva before the Senate adjourned, marking a significant shift in committee leadership following recent political realignments in the chamber.

Gatchalian, in response to his replacement, expressed confidence in Villar’s capacity to lead the powerful finance panel, citing his experience as former Secretary of the Department of Public Works and Highways and his family background in public service.

The leadership change comes after Gatchalian was among several minority senators who lost committee chairmanships following the May 11, 2026, Senate leadership vote that installed Senator Vicente “Tito” Sotto III as Senate President before his subsequent replacement by Senator Alan Peter Cayetano.

In related developments, several senators aligned with the previous leadership were also stripped of key committee posts earlier this week. Senators Risa Hontiveros, Bam Aquino, and brothers Erwin and Raffy Tulfo were removed from their respective chairmanships and replaced in a broader Senate reorganization affecting multiple panels.